Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Jan. 31, 2016 | Jun. 30, 2015 | |
Entity Information [Line Items] | |||
Entity Registrant Name | QUESTAR CORP | ||
Entity Central Index Key | 751,652 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Public Float | $ 3,600,000,000 | ||
Entity Common Stock, Shares Outstanding | 175,008,184 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2015 | ||
Questar Gas [Member] | |||
Entity Information [Line Items] | |||
Entity Registrant Name | QUESTAR GAS CO | ||
Entity Central Index Key | 68,589 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Public Float | 0 | ||
Entity Common Stock, Shares Outstanding | 9,189,626 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2015 | ||
Questar Pipeline [Member] | |||
Entity Information [Line Items] | |||
Entity Registrant Name | QUESTAR PIPELINE CO | ||
Entity Central Index Key | 764,044 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Public Float | $ 0 | ||
Entity Common Stock, Shares Outstanding | 6,550,843 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2015 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
REVENUES | |||
Questar Gas / Revenues from unaffiliated customers | $ 917.6 | $ 960.9 | $ 985.2 |
Wexpro | 22.9 | 35.6 | 45.1 |
Questar Pipeline / Revenues from unaffiliated customers | 187.9 | 190.2 | 189.5 |
Other | 6.5 | 2.6 | 0.2 |
Total Revenues | 1,134.9 | 1,189.3 | 1,220 |
OPERATING EXPENSES | |||
Cost of sales (excluding operating expenses shown separately) | 175.2 | 186.3 | 285.9 |
Cost of natural gas sold | |||
Operating and maintenance | 181.6 | 194.2 | 179.4 |
General and administrative | 109 | 122.7 | 115.9 |
Pension settlement costs | 16.7 | 0 | 0 |
Production and other taxes | 51.3 | 66.2 | 57.4 |
Depreciation, depletion and amortization | 216 | 213.7 | 194.8 |
Abandonment and impairment | 12.5 | 2 | 80.6 |
Total Operating Expenses | 762.3 | 785.1 | 914 |
Net gain (loss) from asset sales | 1.8 | 1.2 | (0.2) |
OPERATING INCOME | 374.4 | 405.4 | 305.8 |
Interest and other income | 4.2 | 6.6 | 9.9 |
Income from unconsolidated affiliate | 3.7 | 3.5 | 3.7 |
Interest expense | (63) | (63.1) | (56.9) |
INCOME BEFORE INCOME TAXES | 319.3 | 352.4 | 262.5 |
Income taxes | (110.6) | (125.9) | (101.3) |
NET INCOME | $ 208.7 | $ 226.5 | $ 161.2 |
Earnings Per Common Share | |||
Basic | $ 1.18 | $ 1.29 | $ 0.92 |
Diluted | $ 1.18 | $ 1.29 | $ 0.92 |
Weighted-average common shares outstanding | |||
Used in basic calculation | 176.1 | 175.8 | 175.4 |
Used in diluted calculation | 176.3 | 176.1 | 176 |
Questar Gas [Member] | |||
REVENUES | |||
Questar Gas / Revenues from unaffiliated customers | $ 917.6 | $ 960.9 | $ 985.2 |
Revenues from affiliated company | 0 | 0 | 0.6 |
Total Revenues | 917.6 | 960.9 | 985.8 |
Cost of natural gas sold | |||
Cost of natural gas sold - unaffiliated parties | 164.6 | 181.4 | 279.7 |
Cost of natural gas sold - affiliated companies | 393.5 | 423.4 | 370.9 |
Total cost of natural gas sold (excluding operating expenses shown separately) / Total Questar Gas cost of natural gas sold | 558.1 | 604.8 | 650.6 |
Operating and maintenance | 111.9 | 122.5 | 113.1 |
General and administrative | 50.6 | 52.8 | 52.5 |
Depreciation and amortization | 55.1 | 53.6 | 49.7 |
Other taxes | 19.3 | 17.8 | 18 |
Total Operating Expenses | 795 | 851.5 | 883.9 |
Net gain (loss) from asset sales | 0 | 0.1 | 0 |
OPERATING INCOME | 122.6 | 109.5 | 101.9 |
Interest and other income | 4.8 | 5.9 | 5.1 |
Interest expense | (28.3) | (28.2) | (22.3) |
INCOME BEFORE INCOME TAXES | 99.1 | 87.2 | 84.7 |
Income taxes | (34.8) | (32) | (31.9) |
NET INCOME | 64.3 | 55.2 | 52.8 |
Questar Pipeline [Member] | |||
REVENUES | |||
Questar Pipeline / Revenues from unaffiliated customers | 187.9 | 190.2 | 189.5 |
Revenues from affiliated companies | 75.1 | 73.7 | 76.7 |
Total Revenues | 263 | 263.9 | 266.2 |
Cost of natural gas sold | |||
Operating and maintenance | 37.6 | 39.3 | 37.6 |
General and administrative | 38.9 | 38.9 | 41.6 |
Depreciation and amortization | 54.6 | 54.5 | 55.5 |
Abandonment and impairment | 0 | 0 | 80.6 |
Other taxes | 8.8 | 9.1 | 9.3 |
Cost of sales (excluding operating expenses shown separately) | 8.9 | 4 | 6.1 |
Total Operating Expenses | 148.8 | 145.8 | 230.7 |
Net gain (loss) from asset sales | 0.2 | (0.5) | 0 |
OPERATING INCOME | 114.4 | 117.6 | 35.5 |
Interest and other income | 0.9 | 1.2 | 1.8 |
Income from unconsolidated affiliate | 3.7 | 3.5 | 3.7 |
Interest expense | (26) | (26.1) | (25.8) |
INCOME BEFORE INCOME TAXES | 93 | 96.2 | 15.2 |
Income taxes | (33.4) | (35.6) | (7) |
NET INCOME | $ 59.6 | $ 60.6 | $ 8.2 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Net income | $ 208.7 | $ 226.5 | $ 161.2 |
Pension and other postretirement benefits | |||
Change in unrecognized actuarial loss | 25.7 | (97.5) | 167.7 |
Change in unrecognized prior service cost | (0.1) | 0.6 | 1.1 |
Interest rate cash flow hedge amortization | 0.6 | 0.5 | 0.5 |
Commodity cash flow hedge | (0.2) | 0 | 0 |
Change in fair value of long-term investment | 0 | 0 | (0.1) |
Income taxes | (10) | 36.9 | (64.7) |
Net other comprehensive income (loss) | 16 | (59.5) | 104.5 |
COMPREHENSIVE INCOME | 224.7 | 167 | 265.7 |
Questar Pipeline [Member] | |||
Net income | 59.6 | 60.6 | 8.2 |
Pension and other postretirement benefits | |||
Interest rate cash flow hedge amortization | 0.6 | 0.5 | 0.5 |
Commodity cash flow hedge | (0.2) | 0 | 0 |
Income taxes | (0.2) | (0.1) | (0.2) |
Net other comprehensive income (loss) | 0.2 | 0.4 | 0.3 |
COMPREHENSIVE INCOME | $ 59.8 | $ 61 | $ 8.5 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Current Assets | ||
Cash and cash equivalents | $ 25 | $ 32 |
Accounts receivable, net | 106.7 | 89.6 |
Unbilled gas accounts receivable | 91.3 | 93.7 |
Federal income taxes receivable | 61.3 | 28.5 |
Inventories, at lower of average cost or market: | ||
Gas stored underground | 45.1 | 43.7 |
Materials and supplies | 28.4 | 30.4 |
Current regulatory assets | 70 | 79.6 |
Prepaid expenses and other | 12.3 | 11.2 |
Total Current Assets | 440.1 | 408.7 |
Property, Plant and Equipment | ||
Distribution property, plant and equipment | 2,570.3 | 2,352.3 |
Gas and oil property, plant and equipment, successful efforts method | 1,654.4 | 1,688.4 |
Transportation property, plant and equipment | 1,851.1 | 1,827.7 |
Other property, plant and equipment | 106.2 | 93.1 |
Total Property, Plant and Equipment | 6,182 | 5,961.5 |
Distribution accumulated depreciation and amortization | (812.2) | (780.3) |
Cost-of-service gas and oil accumulated depreciation, depletion and amortization | (789.9) | (757.3) |
Transportation accumulated depreciation and amortization | (709.7) | (673.9) |
Other accumulated depreciation and amortization | (21.5) | (14.5) |
Total accumulated depreciation, depletion and amortization | (2,333.3) | (2,226) |
Net Property, Plant and Equipment | 3,848.7 | 3,735.5 |
Investment in unconsolidated affiliate | 23.9 | 24.7 |
Other Assets | ||
Goodwill | 9.8 | 9.8 |
Noncurrent regulatory assets | 14.9 | 25 |
Other noncurrent assets | 40.4 | 40.2 |
Total Other Assets | 65.1 | 75 |
TOTAL ASSETS | 4,377.8 | 4,243.9 |
Current Liabilities | ||
Short-term debt | 457.6 | 347 |
Accounts payable | 113.7 | 116 |
Accrued expenses and other | 39.1 | 42.3 |
Production and other taxes | 26.1 | 35.5 |
Customer advances | 34.3 | 29.4 |
Current regulatory liabilities | 6.4 | 13.4 |
Interest payable | 11.6 | 11.7 |
Current portion of long-term debt | 250.2 | 25.1 |
Current portion of capital lease obligation | 1.2 | 1 |
Total Current Liabilities | 940.2 | 621.4 |
Long-term debt, less current portion | 968.1 | 1,220.1 |
Capital lease obligation, less current portion | 36 | 37.4 |
Deferred income taxes | 779.5 | 709.8 |
Asset retirement obligations | 67.6 | 69.3 |
Defined benefit pension plan | 81.1 | 141.9 |
Other postretirement benefits | 41.9 | 43.8 |
Noncurrent regulatory liabilities | 75.6 | 69.9 |
Customer contributions in aid of construction | 23.7 | 29.2 |
Other noncurrent liabilities | $ 49 | $ 54.9 |
Commitments and contingencies - Note 10 | ||
COMMON SHAREHOLDERS' EQUITY | ||
Common stock | $ 469 | $ 476.8 |
Retained earnings | 1,031.4 | 970.7 |
Accumulated other comprehensive loss | (185.3) | (201.3) |
Total Common Shareholders' Equity | 1,315.1 | 1,246.2 |
TOTAL LIABILITIES AND COMMON SHAREHOLDERS' EQUITY | 4,377.8 | 4,243.9 |
Questar Gas [Member] | ||
Current Assets | ||
Cash and cash equivalents | 10.5 | 19.8 |
Accounts receivable, net | 77.8 | 66.4 |
Unbilled gas accounts receivable | 91 | 93.7 |
Accounts receivable from affiliates | 69.2 | 45.2 |
Federal income taxes receivable | 34.2 | 0 |
Inventories, at lower of average cost or market: | ||
Gas stored underground | 43.9 | 40.3 |
Materials and supplies | 17.1 | 19.2 |
Current regulatory assets | 69.8 | 78.3 |
Prepaid expenses and other | 3.5 | 3.5 |
Total Current Assets | 417 | 366.4 |
Property, Plant and Equipment | ||
Distribution property, plant and equipment | 2,186.9 | 1,991.6 |
Other property, plant and equipment | 320.9 | 306.3 |
Construction work in progress | 62.5 | 54.4 |
Total Property, Plant and Equipment | 2,570.3 | 2,352.3 |
Total accumulated depreciation, depletion and amortization | (812.2) | (780.3) |
Net Property, Plant and Equipment | 1,758.1 | 1,572 |
Other Assets | ||
Goodwill | 5.6 | 5.6 |
Noncurrent regulatory assets | 11.9 | 21.3 |
Other noncurrent assets | 3.4 | 3.7 |
Total Other Assets | 20.9 | 30.6 |
TOTAL ASSETS | 2,196 | 1,969 |
Current Liabilities | ||
Notes payable to Questar | 273.3 | 119.3 |
Accounts payable | 91.3 | 76 |
Accounts payable to affiliates | 74.5 | 78.7 |
Accrued expenses and other | 24.4 | 22.7 |
Dividends payable to Questar | 0 | 9 |
Customer advances | 34.3 | 29.4 |
Federal income taxes payable | 0 | 6.4 |
Current regulatory liabilities | 4 | 12.5 |
Interest payable | 6.8 | 6.8 |
Deferred income taxes - current | 6 | 6.3 |
Total Current Liabilities | 508.6 | 360.8 |
Long-term debt, less current portion | 534.5 | 534.5 |
Deferred income taxes | 436.7 | 383.8 |
Asset retirement obligations | 0.6 | 0.6 |
Noncurrent regulatory liabilities | 65.6 | 60.9 |
Customer contributions in aid of construction | 23.7 | 29.2 |
Other noncurrent liabilities | $ 2.2 | $ 2.8 |
Commitments and contingencies - Note 10 | ||
COMMON SHAREHOLDERS' EQUITY | ||
Common stock | $ 23 | $ 23 |
Additional paid-in capital | 266.8 | 265.4 |
Retained earnings | 334.9 | 308.6 |
Total Common Shareholders' Equity | 624.7 | 597 |
TOTAL LIABILITIES AND COMMON SHAREHOLDERS' EQUITY | 2,196 | 1,969 |
Questar Pipeline [Member] | ||
Current Assets | ||
Cash and cash equivalents | 10.2 | 7.4 |
Notes receivable from Questar | 6 | 40.1 |
Accounts receivable, net | 21.2 | 17.2 |
Accounts receivable from affiliates | 49.8 | 39.2 |
Federal income taxes receivable | 8.4 | 0.7 |
Inventories, at lower of average cost or market: | ||
Materials and supplies | 7.9 | 10.3 |
Current regulatory assets | 0.2 | 1.3 |
Prepaid expenses and other | 4.4 | 4.3 |
Total Current Assets | 108.1 | 120.5 |
Property, Plant and Equipment | ||
Transportation property, plant and equipment | 1,396.8 | 1,371.6 |
Storage | 308.6 | 300.3 |
Processing | 24.9 | 24.9 |
Other property, plant and equipment | 86 | 82.7 |
Construction work in progress | 34.8 | 48.2 |
Total Property, Plant and Equipment | 1,851.1 | 1,827.7 |
Total accumulated depreciation, depletion and amortization | (709.7) | (673.9) |
Net Property, Plant and Equipment | 1,141.4 | 1,153.8 |
Investment in unconsolidated affiliate | 23.9 | 24.7 |
Other Assets | ||
Goodwill | 4.2 | 4.2 |
Noncurrent regulatory assets | 3 | 3.7 |
Noncurrent regulatory and other assets | 5.5 | 6.6 |
Total Other Assets | 9.7 | 10.8 |
TOTAL ASSETS | 1,283.1 | 1,309.8 |
Current Liabilities | ||
Accounts payable | 7.7 | 9.7 |
Accounts payable to affiliates | 15.8 | 5.8 |
Accrued expenses and other | 6.4 | 9.9 |
Dividends payable to Questar | 0 | 16 |
Current regulatory liabilities | 2.4 | 0.9 |
Interest payable | 2 | 2.1 |
Current portion of long-term debt | 0 | 25.1 |
Total Current Liabilities | 34.3 | 69.5 |
Long-term debt, less current portion | 433.6 | 433.7 |
Deferred income taxes | 249.9 | 239.5 |
Asset retirement obligations | 2.3 | 2.3 |
Noncurrent regulatory liabilities | 10 | 9 |
Noncurrent regulatory and other liabilities | $ 16.3 | $ 15.9 |
Commitments and contingencies - Note 10 | ||
COMMON SHAREHOLDERS' EQUITY | ||
Common stock | $ 6.6 | $ 6.6 |
Additional paid-in capital | 353.4 | 351.4 |
Retained earnings | 211.3 | 215.7 |
Accumulated other comprehensive loss | (22.3) | (22.5) |
Total Common Shareholders' Equity | 549 | 551.2 |
TOTAL LIABILITIES AND COMMON SHAREHOLDERS' EQUITY | $ 1,283.1 | $ 1,309.8 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Dec. 31, 2015 | Dec. 31, 2014 |
Common Stock, No Par Value | $ 0 | $ 0 |
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 |
Common Stock, Shares Outstanding | 175,000,000 | 175,400,000 |
Questar Gas [Member] | ||
Common Stock, Par or Stated Value Per Share | $ 2.5 | $ 2.5 |
Common Stock, Shares Authorized | 50,000,000 | 50,000,000 |
Common Stock, Shares Issued | 9,200,000 | 9,200,000 |
Common Stock, Shares Outstanding | 9,200,000 | 9,200,000 |
Questar Pipeline [Member] | ||
Common Stock, Par or Stated Value Per Share | $ 1 | $ 1 |
Common Stock, Shares Authorized | 25,000,000 | 25,000,000 |
Common Stock, Shares Issued | 6,600,000 | 6,600,000 |
Common Stock, Shares Outstanding | 6,600,000 | 6,600,000 |
CONSOLIDATED STATEMENTS OF COMM
CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions | Total | Common Stock Including Additional Paid in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] | Questar Gas [Member] | Questar Gas [Member]Common Stock [Member] | Questar Gas [Member]Additional Paid-in Capital [Member] | Questar Gas [Member]Retained Earnings [Member] | Questar Pipeline [Member] | Questar Pipeline [Member]Common Stock [Member] | Questar Pipeline [Member]Additional Paid-in Capital [Member] | Questar Pipeline [Member]Retained Earnings [Member] | Questar Pipeline [Member]Accumulated Other Comprehensive Loss [Member] |
Beginning balances at Dec. 31, 2012 | $ 1,035.6 | $ 442.4 | $ 839.5 | $ (246.3) | $ 467.6 | $ 23 | $ 172.5 | $ 272.1 | $ 605.8 | $ 6.6 | $ 347.5 | $ 274.9 | $ (23.2) |
Beginning balances (in shares) at Dec. 31, 2012 | 175 | ||||||||||||
Equity contribution from Questar | 90 | 0 | 90 | 0 | |||||||||
Common stock issued | 2.3 | $ 2.3 | 0 | 0 | |||||||||
Common stock issued (in shares) | 0.3 | ||||||||||||
Common stock repurchased | (4.2) | $ (4.2) | 0 | 0 | |||||||||
Common stock repurchased (in shares) | (0.2) | ||||||||||||
Dividends paid | (124.6) | $ 0 | (124.6) | 0 | (35.5) | 0 | 0 | (35.5) | (64) | 0 | 0 | (64) | 0 |
Share-based compensation | 10 | 10 | 0 | 0 | 1.4 | 0 | 1.4 | 0 | 2 | 0 | 2 | 0 | 0 |
Tax benefits from share-based compensation | 14 | 14 | 0 | 0 | |||||||||
Net income | 161.2 | 0 | 161.2 | 0 | 52.8 | 0 | 0 | 52.8 | 8.2 | 0 | 0 | 8.2 | 0 |
Net other comprehensive income (loss) | 104.5 | 0 | 0 | 104.5 | 0.3 | 0 | 0 | 0 | 0.3 | ||||
Ending balances at Dec. 31, 2013 | 1,198.8 | $ 464.5 | 876.1 | (141.8) | 576.3 | 23 | 263.9 | 289.4 | 552.3 | 6.6 | 349.5 | 219.1 | (22.9) |
Ending balances (in shares) at Dec. 31, 2013 | 175.1 | ||||||||||||
Common stock issued | 2.9 | $ 2.9 | 0 | 0 | |||||||||
Common stock issued (in shares) | 0.5 | ||||||||||||
Common stock repurchased | (4.1) | $ (4.1) | 0 | 0 | |||||||||
Common stock repurchased (in shares) | (0.2) | ||||||||||||
Dividends paid | (131.9) | $ 0 | (131.9) | 0 | (36) | 0 | 0 | (36) | (64) | 0 | 0 | (64) | 0 |
Share-based compensation | 11.3 | 11.3 | 0 | 0 | 1.5 | 0 | 1.5 | 0 | 1.9 | 0 | 1.9 | 0 | 0 |
Tax benefits from share-based compensation | 2.2 | 2.2 | 0 | 0 | |||||||||
Net income | 226.5 | 0 | 226.5 | 0 | 55.2 | 0 | 0 | 55.2 | 60.6 | 0 | 0 | 60.6 | 0 |
Net other comprehensive income (loss) | (59.5) | 0 | 0 | (59.5) | 0.4 | 0 | 0 | 0 | 0.4 | ||||
Ending balances at Dec. 31, 2014 | 1,246.2 | $ 476.8 | 970.7 | (201.3) | 597 | 23 | 265.4 | 308.6 | 551.2 | 6.6 | 351.4 | 215.7 | (22.5) |
Ending balances (in shares) at Dec. 31, 2014 | 175.4 | ||||||||||||
Common stock issued | 3.5 | $ 3.5 | 0 | 0 | |||||||||
Common stock issued (in shares) | 0.8 | ||||||||||||
Common stock repurchased | (23.3) | $ (23.3) | 0 | 0 | |||||||||
Common stock repurchased (in shares) | (1.2) | ||||||||||||
Dividends paid | (148) | $ 0 | (148) | 0 | (38) | 0 | 0 | (38) | (64) | 0 | 0 | (64) | 0 |
Share-based compensation | 11.4 | 11.4 | 0 | 0 | 1.4 | 0 | 1.4 | 0 | 2 | 0 | 2 | 0 | 0 |
Tax benefits from share-based compensation | 0.6 | 0.6 | 0 | 0 | |||||||||
Net income | 208.7 | 0 | 208.7 | 0 | 64.3 | 0 | 0 | 64.3 | 59.6 | 0 | 0 | 59.6 | 0 |
Net other comprehensive income (loss) | 16 | 0 | 0 | 16 | 0.2 | 0 | 0 | 0 | 0.2 | ||||
Ending balances at Dec. 31, 2015 | $ 1,315.1 | $ 469 | $ 1,031.4 | $ (185.3) | $ 624.7 | $ 23 | $ 266.8 | $ 334.9 | $ 549 | $ 6.6 | $ 353.4 | $ 211.3 | $ (22.3) |
Ending balances (in shares) at Dec. 31, 2015 | 175 |
CONSOLIDATED STATEMENTS OF COM7
CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Statement of Stockholders' Equity [Abstract] | |||
Dividends paid per common share | $ 0.84 | $ 0.75 | $ 0.71 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
OPERATING ACTIVITIES | |||
Net income | $ 208.7 | $ 226.5 | $ 161.2 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation, depletion and amortization | 223.5 | 234.4 | 201.8 |
Deferred income taxes | 59.5 | 49.2 | 42.4 |
Abandonment and impairment | 12.5 | 2 | 80.6 |
Share-based compensation | 11.4 | 12.4 | 10.2 |
Net (gain) loss from asset sales | (1.8) | (1.2) | 0.2 |
(Income) from unconsolidated affiliate | (3.7) | (3.5) | (3.7) |
Distributions from unconsolidated affiliate | 4.5 | 4.4 | 4.6 |
Other operating | 1.1 | 0.9 | 0.9 |
Changes in operating assets and liabilities | |||
Accounts receivable, including unbilled gas sales | (11.4) | 29.5 | (41.5) |
Inventories | 0.6 | (10.4) | (0.2) |
Prepaid expenses and other | (1.1) | (1.7) | 3.6 |
Accounts payable, accrued expenses and other | (15.1) | (19.6) | 33.7 |
Federal income taxes | (32.8) | (24) | 6.2 |
Current regulatory assets and liabilities | 2.6 | (44.5) | 19.2 |
Noncurrent regulatory and other assets and liabilities | (47.1) | (10.8) | (17.1) |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 411.4 | 443.6 | 502.1 |
INVESTING ACTIVITIES | |||
Property, plant and equipment | (306.8) | (319.1) | (399.4) |
Wexpro acquisition of producing properties | (12.2) | (52.4) | (104.3) |
Questar Gas acquisition | (11.4) | 0 | 0 |
Cash used in disposition of assets | (6.2) | (4.8) | (4.9) |
Proceeds from disposition of assets | 1.1 | 9.5 | 0.6 |
NET CASH USED IN INVESTING ACTIVITIES | (335.5) | (366.8) | (508) |
FINANCING ACTIVITIES | |||
Common stock issued | 3.5 | 2.9 | 2.3 |
Common stock repurchased | (23.3) | (4.1) | (4.2) |
Long-term debt issued, net of issuance costs | 0 | 0 | 147.3 |
Long-term debt repaid | (25.1) | 0 | (42) |
Capital lease obligation repaid | (1.2) | (0.9) | (0.7) |
Change in short-term debt | 110.6 | 71 | 13 |
Dividends paid | (148) | (131.9) | (124.6) |
Tax benefits from share-based compensation | 0.6 | 2.2 | 14 |
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | (82.9) | (60.8) | 5.1 |
Change in cash and cash equivalents | (7) | 16 | (0.8) |
Beginning cash and cash equivalents | 32 | 16 | 16.8 |
Ending cash and cash equivalents | 25 | 32 | 16 |
Supplemental Disclosure of Cash Paid (Received) During the Year for: | |||
Interest | 62 | 61.3 | 55.8 |
Income taxes | 89 | 97.4 | 33.6 |
Questar Gas [Member] | |||
OPERATING ACTIVITIES | |||
Net income | 64.3 | 55.2 | 52.8 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 60.6 | 58.8 | 54.7 |
Deferred income taxes | 52.9 | 46 | 37.7 |
Share-based compensation | 1.4 | 1.6 | 1.4 |
Net (gain) loss from asset sales | 0 | (0.1) | 0 |
Changes in operating assets and liabilities | |||
Accounts receivable, including unbilled gas sales | (32.7) | 4.6 | (43.7) |
Inventories | (1.5) | (8.2) | 0.5 |
Prepaid expenses and other | 0 | (0.5) | 0.2 |
Accounts payable, accrued expenses and other | 12.7 | (0.2) | 29.5 |
Federal income taxes | (40.6) | 9.2 | (2.8) |
Current regulatory assets and liabilities | 0 | (46.7) | 17.6 |
Noncurrent regulatory and other assets and liabilities | (1) | (6) | 5.4 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 116.1 | 113.7 | 153.3 |
INVESTING ACTIVITIES | |||
Property, plant and equipment | (217.4) | (174.7) | (166.2) |
Questar Gas acquisition | (11.4) | 0 | 0 |
Cash used in disposition of assets | (3.9) | (3.4) | (3.9) |
Proceeds from disposition of assets | 0.4 | 0.8 | 0.3 |
Affiliated-company property, plant and equipment transfers | (0.1) | 0 | 10.8 |
NET CASH USED IN INVESTING ACTIVITIES | (232.4) | (177.3) | (159) |
FINANCING ACTIVITIES | |||
Long-term debt issued, net of issuance costs | 0 | 0 | 149 |
Long-term debt repaid | 0 | 0 | (42) |
Change in notes payable to Questar | 154 | 101.6 | (58.4) |
Dividends paid | (47) | (27) | (35.5) |
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 107 | 74.6 | 13.1 |
Change in cash and cash equivalents | (9.3) | 11 | 7.4 |
Beginning cash and cash equivalents | 19.8 | 8.8 | 1.4 |
Ending cash and cash equivalents | 10.5 | 19.8 | 8.8 |
Supplemental Disclosure of Cash Paid (Received) During the Year for: | |||
Interest | 27.6 | 26.3 | 21 |
Income taxes | 21.1 | (13.2) | (13.8) |
Supplemental Disclosure of Noncash Investing and Financing Transaction: | |||
Noncash reduction in notes payable to Questar due to equity contribution | 90 | ||
Questar Pipeline [Member] | |||
OPERATING ACTIVITIES | |||
Net income | 59.6 | 60.6 | 8.2 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 57.1 | 56.9 | 58.1 |
Deferred income taxes | 10.1 | 12.6 | (14.3) |
Abandonment and impairment | 0 | 0 | 80.6 |
Share-based compensation | 2 | 2.1 | 2 |
Net (gain) loss from asset sales | (0.2) | 0.5 | 0 |
(Income) from unconsolidated affiliate | (3.7) | (3.5) | (3.7) |
Distributions from unconsolidated affiliate | 4.5 | 4.4 | 4.6 |
Other operating | 0.6 | 0.5 | 0.5 |
Changes in operating assets and liabilities | |||
Accounts receivable, including unbilled gas sales | (14.6) | (1.3) | (8.5) |
Inventories | 2.4 | (2.2) | (0.9) |
Prepaid expenses and other | (0.1) | 0.1 | 3.3 |
Accounts payable, accrued expenses and other | 3 | (7.6) | 0.4 |
Federal income taxes | (7.7) | (3.6) | 2.9 |
Current regulatory assets and liabilities | 3.3 | 4.5 | 2.1 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 116.3 | 124 | 135.3 |
INVESTING ACTIVITIES | |||
Property, plant and equipment | (40.6) | (59.4) | (73.4) |
Cash used in disposition of assets | (2.3) | (1.4) | (1) |
Proceeds from disposition of assets | 0.3 | 0.2 | 0.1 |
Affiliated-company property, plant and equipment transfers | 0.1 | 0 | (10.7) |
NET CASH USED IN INVESTING ACTIVITIES | (42.5) | (60.6) | (85) |
FINANCING ACTIVITIES | |||
Long-term debt repaid | (25.1) | 0 | 0 |
Change in notes receivable from Questar | 34.1 | (10.7) | 9.3 |
Dividends paid | (80) | (48) | (64) |
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | (71) | (58.7) | (54.7) |
Change in cash and cash equivalents | 2.8 | 4.7 | (4.4) |
Beginning cash and cash equivalents | 7.4 | 2.7 | 7.1 |
Ending cash and cash equivalents | 10.2 | 7.4 | 2.7 |
Supplemental Disclosure of Cash Paid (Received) During the Year for: | |||
Interest | 25 | 25.4 | 25.2 |
Income taxes | $ 24.8 | $ 32.4 | $ 11 |
Summary of Significant Accounti
Summary of Significant Accounting Policies (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies A. Nature of Business Questar Corporation (Questar or the Company) 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). B. Principles of Consolidation The Questar and Questar Pipeline consolidated financial statements contain the accounts of the parent companies and their majority-owned or controlled subsidiaries. The consolidated financial statements were prepared in accordance with U.S. generally accepted accounting principles (GAAP) and with the instructions for Annual Reports on Form 10-K and SEC Regulations S-X and S-K. All significant intercompany accounts and transactions have been eliminated in consolidation. C. Investment in Unconsolidated Affiliate Questar and Questar Pipeline use the equity method to account for an investment in an unconsolidated affiliate where they do not have control, but have significant influence. The investment in the unconsolidated affiliate on the Consolidated Balance Sheets equals Questar Pipeline's proportionate share of equity reported by the unconsolidated affiliate. The investment is assessed for possible impairment when events indicate that the fair value of the investment may be below Questar Pipeline'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. White River Hub, LLC, a limited liability company and FERC-regulated transporter of natural gas, is the sole unconsolidated affiliate. Questar Pipeline owns 50% of White River Hub, LLC, and is the operator. D. Use of Estimates The preparation of financial statements and notes in conformity with GAAP requires that management formulate estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. The Company also incorporates estimates of proved developed and total proved gas and oil reserves in the calculation of depreciation, depletion and amortization rates of its gas and oil properties. Changes in estimated quantities of the Company's reserves could impact its reported financial results as well as disclosures regarding the quantities of proved gas and oil reserves. Actual results could differ from these estimates. E. Revenue Recognition Questar Gas Questar Gas records revenues in the period that gas is delivered, including gas delivered to residential and commercial customers but not billed as of the end of the accounting period. Unbilled gas deliveries are estimated for the period from the date meters are read to the end of the month. Approximately one-half month of revenue is estimated in any period. Gas costs and other variable costs are recorded on the same basis to ensure proper matching of revenues and expenses. Questar Gas's tariff allows for monthly adjustments to customer bills to approximate the effect of abnormal weather on non-gas revenues. The weather-normalization adjustment significantly reduces the impact of weather on gas-distribution earnings. The PSCU and PSCW approved a conservation enabling tariff (CET) to promote energy conservation. Under the CET, Questar Gas non-gas revenues are decoupled from the volume of gas used by customers. The tariff specifies an allowed monthly revenue per customer, with differences to be deferred and recovered from or refunded to customers through periodic rate adjustments. Rate adjustments occur every six months under the CET. The adjustments amortize deferred CET amounts over a 12 -month period. These adjustments are limited to 5% of non-gas revenues. Questar Gas allows customers the option of paying an estimated fixed monthly bill throughout the year on a budget-billing program. The estimated payments are adjusted to actual usage annually. Amounts collected from customers under this program in excess of gas deliveries are recorded on the Consolidated Balance Sheets as customer advances. The budget-billing option does not impact revenue recognition. Questar Gas may collect revenues subject to possible refunds and establish reserves pending final orders from regulatory agencies. Wexpro Wexpro recognizes revenues in the period that services are provided or products are delivered. In accordance with the Wexpro agreements, production from the gas properties operated by Wexpro is delivered to Questar Gas at Wexpro's cost of providing this service, including an after-tax return on Wexpro's investment. Wexpro sells crude oil and NGL production from certain producing properties at market prices, with the revenues used to recover operating expenses and to provide Wexpro a return on its investment. Any operating income remaining after recovery of expenses and Wexpro's return on investment is divided between Questar Gas and Wexpro, with Wexpro retaining 46% . Amounts received by Questar Gas from the sharing of Wexpro's oil and NGL income are used to reduce natural gas costs to utility customers. Wexpro's investment base consists of its costs of acquired properties and commercial wells and related facilities, and is adjusted for working capital and reduced for deferred income taxes and accumulated depreciation, depletion and amortization. Property acquisition costs only pertain to properties that have been approved under the Wexpro II Agreement. Wexpro may collect revenues subject to possible refunds and establish reserves pending final calculation of the after-tax return on investment, which is adjusted annually. Revenues associated with the sale of gas, oil and NGL are accounted for using the sales method, whereby revenue is recognized as gas, oil and NGL are sold to purchasers. A liability is recorded to the extent that Wexpro has sold or delivered volumes in excess of its share of remaining gas and oil reserves in the underlying properties. Questar Pipeline Questar Pipeline and subsidiaries recognize revenues in the period that services are provided or products are delivered. The straight-fixed-variable rate design used by Questar Pipeline, which allows for recovery of substantially all fixed costs in the demand or reservation charge, reduces the earnings impact of volume changes on gas transportation and storage operations. Questar Pipeline may collect revenues subject to possible refunds and establish reserves pending final orders from regulatory agencies. F. Cost of Sales 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 agreements. 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: Year Ended December 31, 2015 2014 2013 (in millions) Questar Gas Gas purchases $ 82.5 $ 136.5 $ 186.6 Operator service fee 319.0 349.7 294.6 Transportation and storage 79.2 79.6 80.1 Gathering 22.1 21.0 18.8 Royalties 33.3 60.1 44.3 Storage (injection),net (3.5 ) (1.1 ) (0.8 ) Purchased-gas account adjustment 20.5 (45.8 ) 22.0 Other 5.0 4.8 5.0 Total Questar Gas cost of natural gas sold 558.1 604.8 650.6 Elimination of Questar Gas cost of natural gas sold - affiliated companies (393.5 ) (423.4 ) (370.9 ) Total Questar Gas cost of natural gas sold - unaffiliated parties 164.6 181.4 279.7 Questar Pipeline Total Questar Pipeline cost of sales 8.9 4.0 6.1 Other cost of sales 1.7 0.9 0.1 Total cost of sales $ 175.2 $ 186.3 $ 285.9 G. Regulation The Company applies the regulatory accounting principles to its rate-regulated businesses. Under these principles, the Company records regulatory assets and liabilities that would not be otherwise recorded under GAAP for non-rate-regulated entities. Regulatory assets and liabilities record probable future revenues or expenses associated with certain charges or credits that will be recovered from or refunded to customers through the rate-making process. Questar Gas accounts for purchased-gas costs in accordance with procedures authorized by the PSCU and the PSCW. Purchased-gas costs that are different from those provided for in present rates are accumulated and recovered or credited through future rate changes. Questar Gas may hedge a portion of its natural gas supply to mitigate price fluctuations for gas-distribution customers. The regulatory commissions allow Questar Gas to record periodic mark-to-market adjustments for commodity-price derivatives in the purchased-gas adjustment account. Questar had a commodity-price derivative liability of $0.2 million at December 31, 2015 and no commodity-price derivative balances at December 31, 2014 . See Note 12 for a description and comparison of regulatory assets and liabilities as of December 31, 2015 and 2014 . Wexpro manages and produces cost-of-service reserves for gas utility affiliate Questar Gas under the terms of the Wexpro agreements, comprehensive agreements with the states of Utah and Wyoming (see Note 11). Questar Gas is regulated by the PSCU and the PSCW. The Idaho Public Utilities Commission has contracted with the PSCU for rate oversight of Questar Gas operations in a small area of southeastern Idaho. Questar Pipeline is regulated by the FERC. These regulatory agencies establish rates for the sale, storage and transportation of natural gas. The regulatory agencies also regulate, among other things, the extension and enlargement or abandonment of jurisdictional natural gas facilities. Regulation is intended to permit the recovery, through rates, of the cost of service, including a return on investment. H. Cash and Cash Equivalents Cash equivalents consist principally of repurchase agreements with maturities of three months or less. In almost all cases, the repurchase agreements are highly liquid investments in overnight securities made through commercial bank accounts that result in available funds the next business day. I. Notes Payable to and Notes Receivable from Questar Notes payable to or receivable from Questar appearing in the financial statements and disclosures of Questar Gas and Questar Pipeline represent interest bearing demand notes for cash borrowed from Questar for use in operations or loaned to Questar until needed in operations. The funds are centrally managed by Questar. Amounts loaned to Questar earn an interest rate that is identical to the interest rate paid by the companies for borrowings from Questar. J. Property, Plant and Equipment Property, plant and equipment balances are stated at historical cost. Maintenance and repair costs are expensed as incurred. Cost-of-service gas and oil operations The successful efforts method of accounting is used for cost-of-service reserves developed and produced by Wexpro for gas utility affiliate Questar Gas. Cost-of-service reserves are properties for which the operations and return on investment are subject to the Wexpro agreements (see Note 11). Under the successful efforts method, Wexpro capitalizes the costs of acquiring leaseholds, drilling development wells, drilling successful exploratory wells, and purchasing related support equipment and facilities. Geological and geophysical studies and other exploratory activities are expensed as incurred. Costs of production and general corporate activities are expensed in the period incurred. A gain or loss is generally recognized on assets as they are retired from service. Contributions in aid of construction Customer contributions in aid of construction reduce plant unless the amounts are refundable to customers. Contributions for main-line extensions may be refundable to customers if additional customers connect to the main-line segment within five years. Refundable contributions are recorded as liabilities until refunded or the five -year period expires without additional customer connections. Amounts not refunded reduce plant. Capital expenditures in the Consolidated Statements of Cash Flows are reported net of non-refundable contributions. As a result of Questar Gas's Utah and Wyoming general rate cases, effective March 1, 2014 and March 1, 2015, respectively, the Company does not expect to record any new refundable customer contributions in aid of construction for Utah and Wyoming customers. Depreciation, depletion and amortization Major categories of fixed assets in gas distribution, transportation and storage operations are grouped together and depreciated using a straight-line method. Gains and losses on asset disposals are recorded as adjustments in accumulated depreciation. The Company has not capitalized future abandonment costs on a majority of its long-lived gas distribution and transportation assets due to a lack of a legal obligation to restore the area surrounding abandoned assets. In these cases, the regulatory agencies have opted to leave retired facilities in the ground undisturbed rather than excavate and dispose of the assets. Depreciation rates for Questar Gas and Questar Pipeline are established through rate proceedings. Capitalized costs of development wells and leaseholds are amortized on a field-by-field basis using the unit-of-production method and the estimated proved developed or total proved gas and oil reserves. Oil and NGL volumes are converted to natural gas equivalents using the ratio of one barrel of crude oil, condensate or NGL to 6,000 cubic feet of natural gas. The Company capitalizes an estimate of the fair value of future abandonment costs associated with cost-of-service reserves and depreciates these costs using a unit-of-production method. The following represent average depreciation, depletion and amortization rates of the Company's capitalized costs: Year Ended December 31, 2015 2014 2013 Questar Gas distribution plant 2.6 % 2.7 % 2.7 % Cost-of-service gas and oil properties, per Mcfe $ 1.83 $ 1.75 $ 1.56 Questar Pipeline transportation, storage and other energy services 3.2 % 3.2 % 3.4 % Questar Gas's depreciation rates include a component for the cost of plant removal. Accordingly, Questar Gas recognizes the cost of plant removal as depreciation expense. The related cost of removal accrual is reflected as a regulatory liability on the Questar Gas Balance Sheets (see Note 12). At the time property, plant and equipment is retired, removal expenses less salvage, are charged to the regulatory cost of plant removal liability. K. Impairment of Long-Lived Assets Proved gas and oil properties are evaluated on a field-by-field basis for potential impairment. Other properties are evaluated on a specific-asset basis or in groups of similar assets, as applicable. Impairment is indicated when a triggering event occurs and the sum of the estimated undiscounted future net cash flows of an evaluated asset is less than the asset's carrying value. Triggering events could include, but are not limited to, an impairment of gas and oil reserves caused by mechanical problems, faster-than-expected decline of reserves, lease-ownership issues, other-than-temporary decline in gas and oil prices, and changes in the utilization of pipeline assets. If impairment is indicated, fair value is estimated using a discounted cash flow approach that incorporates market interest rates or, if available, other market data. The amount of impairment loss recorded, if any, is the difference between the fair value of the asset and the current net book value. Cash flow estimates require forecasts and assumptions for many years into the future for a variety of factors, including commodity prices, commodity transportation rates and operating costs. Wexpro recorded a $12.1 million pre-tax leasehold impairment charge in the fourth quarter of 2015 and a $2.0 million pre-tax abandonment and impairment charge for its share of the remaining investment in the Brady field in the second quarter of 2014. Questar Pipeline recorded an $80.6 million pre-tax impairment of the eastern segment of its Southern Trails Pipeline in the third quarter of 2013. See Note 17 for additional details. L. Goodwill Goodwill represents the excess of the amount paid over the fair value of net assets acquired in a business combination, and is not subject to amortization. Goodwill and indefinite-lived intangible assets are tested for impairment at least once a year or when a triggering event occurs. The Company evaluates whether it is more likely than not that the carrying value of a reporting unit is greater than its fair value using events and circumstances such as economic conditions, industry changes, financial performance, etc. Fair value is measured using actively traded market values of other comparable companies in the same businesses. If the fair value of the reporting unit exceeds its carrying value then goodwill is considered not to be impaired. If the carrying value of the business unit is greater than the fair value, an impairment of goodwill is recognized equal to the excess of the carrying amount of goodwill over its fair value. M. Capitalized Interest and Allowance for Funds Used During Construction The Company capitalizes interest costs when applicable. The PSCU, PSCW and FERC require the capitalization of an allowance for funds used during construction (AFUDC) for rate-regulated plant and equipment. The Wexpro agreements require capitalization of AFUDC on cost-of-service gas and oil development projects. Amounts recorded in the Consolidated Statements of Income for the capitalization of AFUDC and interest costs are disclosed in the table below: Year Ended December 31, 2015 2014 2013 (in millions) AFUDC (recorded as an increase in interest and other income) Questar Gas $ — $ 0.9 $ — Wexpro 0.6 0.8 4.6 Questar Pipeline 0.6 1.1 1.7 Total AFUDC $ 1.2 $ 2.8 $ 6.3 Capitalized interest costs (recorded as a reduction of interest expense) Questar Gas $ 0.1 $ 0.5 $ 0.2 Questar Pipeline 0.2 0.5 0.6 Total capitalized interest costs $ 0.3 $ 1.0 $ 0.8 N. Derivative Instruments and Hedging Activities The Company may elect to designate a derivative instrument as a hedge of exposure to changes in fair value or cash flows. A derivative instrument qualifies as a hedge if all of the following tests are met: • The item to be hedged exposes the Company to market risk. • The derivative reduces the risk exposure and is designated as a hedge at the inception of the hedging relationship. • At the inception of the hedge and throughout the hedge period, there is a high correlation between changes in the fair value of the derivative instrument and the fair value of the underlying hedged item. If the hedged exposure is a fair value exposure, the gain or loss on the derivative instrument is recognized in earnings in the period of the change together with the offsetting gain or loss from the change in fair value of the hedged item. If the hedged exposure is a cash flow exposure, the effective portion of the gain or loss on the derivative instrument is reported initially as a component of accumulated other comprehensive income (loss) (AOCI) and subsequently reclassified into earnings when the forecasted transaction affects earnings. Any amount excluded from the assessment of hedge effectiveness, as well as the ineffective portion of the gain or loss, is reported currently in earnings. When a derivative instrument is designated as a cash flow hedge of a forecasted transaction that becomes probable of not occurring, the gain or loss on the derivative is immediately reclassified into earnings from AOCI. See Note 7 for further discussion on derivatives and hedging. O. Credit Risk The Rocky Mountain region is the Company's primary market area. Exposure to credit risk may be affected by the concentration of customers in this region due to changes in economic or other conditions. Customers include individuals and numerous commercial and industrial enterprises that may react differently to changing conditions. Management believes that its credit-review procedures, loss reserves, customer deposits and collection procedures have adequately provided for usual and customary credit-related losses. Loss reserves are periodically reviewed for adequacy and may be established on a specific-case basis. Bad debt expense associated with accounts receivable amounted to $2.1 million in 2015 , $1.7 million in 2014 and $0.2 million in 2013 . The allowance for bad debts was $2.1 million at December 31, 2015 and $1.7 million at 2014 . Questar Gas's retail gas operations account for a majority of the bad debt expense. Questar Gas estimates bad debt expense as a percentage of general-service revenues with periodic adjustments. Uncollected accounts are generally written off six months after gas is delivered and interest is no longer accrued. Questar Gas recovers bad debt costs related to the gas-cost portion of rates in its Utah operations through a purchased-gas adjustment to rates. P. Asset Retirement Obligations Questar records an asset retirement obligation (ARO) 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 Wexpro gas and oil wells, production facilities and certain other properties. The Company has not capitalized future abandonment costs 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. In these cases, the regulatory agencies have opted to leave retired facilities in the ground undisturbed rather than requiring the Company to excavate and dispose of the 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 on 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. See Note 5 for further discussion on AROs. Q. Income Taxes Questar and its subsidiaries file a consolidated federal income tax return. Questar Gas and Questar Pipeline account for income taxes on a separate return basis and record tax expenses and benefits as they are generated. Questar Gas and Questar Pipeline make payments to or receive payments from Questar for such tax expenses or benefits as they are generated on the consolidated income tax return. Deferred income taxes are recorded for the temporary differences arising between the book and tax carrying amounts of assets and liabilities. These differences create taxable or tax-deductible amounts for future periods. Questar Gas uses the deferral method to account for investment tax credits as required by regulatory commission. The Company records interest earned on income tax refunds in interest and other income and records penalties and interest charged on tax deficiencies in interest expense. Accounting standards for income taxes specify the accounting for uncertainty in income taxes by prescribing a minimum recognition threshold for a tax position to be reflected in the financial statements. If recognized, the tax benefit is measured as the largest amount of tax benefit that is more-likely-than-not to be realized upon ultimate settlement. Management has considered the amounts and the probabilities of the outcomes that could be realized upon ultimate settlement and believes that it is more-likely-than-not that the Company's recorded income tax benefits will be fully realized. There were no unrecognized tax benefits at the beginning or end of the years ended December 31, 2015 , 2014 or 2013 . The 2015 federal income tax return has not been filed. For the 2014, 2015, and 2016 tax years, Questar was accepted into the IRS's Compliance Assurance Process (CAP) Maintenance program. The CAP employs real-time resolution to improve federal tax compliance by resolving all or most tax positions prior to filing the related tax return. Successful conclusion of the CAP allows the IRS to achieve an acceptable level of assurance regarding the accuracy of the taxpayer's filed tax return and to eliminate or substantially reduce the need for a traditional examination. The CAP Maintenance program is administered by the IRS and indicates that the Company is a compliant taxpayer. The IRS has closed its review of all prior year tax returns. R. Earnings Per Share Basic earnings per share (EPS) is computed by dividing net income by the weighted-average number of common shares outstanding during the reporting period, which includes vested undistributed restricted stock units (RSUs) and vested undistributed deferred RSUs. 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 RSUs with forfeitable dividend equivalents 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 or dividend equivalents are participating securities for the computation of basic earnings per share under the two-class method. The application of the two-class method has an insignificant impact on the calculation of Questar's basic and diluted EPS. See Note 3 for further discussion on EPS. S. Share-Based Compensation Questar may issue stock options, restricted shares, RSUs and performance shares to certain officers, employees and non-employee directors under the LTSIP. The Company uses the Black-Scholes-Merton mathematical model in estimating the fair value of stock options and the Monte Carlo simulation method in estimating the fair value of performance shares for accounting purposes. The granting of restricted shares and RSUs results in recognition of compensation cost measured at the grant-date market price. Questar uses an accelerated method in recognizing share-based compensation costs with graded vesting periods. See Note 13 for further discussion on share-based compensation. T. Comprehensive Income Comprehensive income, as reported on Questar's Consolidated Statements of Comprehensive Income, is the sum of net income as reported on the Questar Consolidated Statements of Income and net other comprehensive income (loss) (OCI) as reported on the Questar Consolidated Statements of Common Shareholders' Equity. OCI includes recognition of the under-funded position of pension and other postretirement benefit plans, interest rate and commodity-based 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 and other postretirement benefit (OPB) costs are accrued, as the Company records interest expense for hedged interest payments, as the Company reaches settlement of commodity-based hedges and when the long-term investment is sold or otherwise realized. Comprehensive income, as reported on Questar Pipeline's Consolidated Statements of Comprehensive Income, is the sum of net income as reported on the Questar Pipeline Consolidated Statements of Income and net OCI as reported on the Questar Pipeline Consolidated Statements of Common Shareholder's Equity. OCI includes interest rate and commodity-based cash flow hedges, and the related income taxes. Income or loss is recognized as the company records interest expense for hedged interest payments and as the Company reaches settlement of commodity-based hedges. See Note 4 for additional information related to OCI and AOCI. U. Business Segments Line of business information is presented according to senior management's basis for evaluating performance considering differences in the nature of products, services and regulation, among other factors. Certain intersegment sales include intercompany profit. See Note 15 for more information on business segments. V. Possible Sale of Questar Southern Trials Pipeline Assets Questar Pipeline has begun a process to sell Questar Southern Trails Pipeline assets. Questar Pipeline's net book value of the western segment of Southern Trails Pipeline is approximately $24 million . The eastern segment of Southern Trails Pipeline continues to operate at a loss. The Company recorded an impairment on the eastern segment of Southern Trails Pipeline in 2013, reducing its book value to zero . Assuming the Company can identify a buyer and negotiate acceptable terms, the Company's objective is to sale the Questar Southern Trails Pipeline during 2016. There is no assurance that the Company will be successful in selling Questar Southern Trails Pipeline. W. Recent Accounting Developments In January 2016, The Financial Accounting Standards Board (FASB) issued Accounting Standards Updates (ASU) 2016-01, Financial Instruments-Overall . The ASU was developed to enhance the reporting model for financial instruments in order to provide users of financial statements with more decision-useful information. The update addresses certain aspects of recognition, measurement, presentation and disclosure of financial instruments. The update is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company is currently evaluating the ASU's effect on its financial position, results of operations, cash flows and associated disclosures. In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes . The ASU simplifies the presentation of deferred income taxes. The update requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The guidance will be effective for annual periods beginning after December 15, 2016. The Company has adopted this update for the current reporting period and has retrospectively reflected all deferred taxes as noncurrent for the periods presented in the Company's statement of financial position, in Item 6 of Part II of this Annual Report and in the accompanying notes (see Note 15). In August 2015, the FASB issued ASU 2015-14. This update defers the effective date of ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which the FASB issued in May of 2014, by one year. ASU 2014-09 replaces most of the existing revenue guidance with a single set of principles, including changes in recognition and disclosure requirements. The revised effective date will be January 1, 2018 and early adoption is permitted beginning January 1, 2017. The new guidance must be applied retrospectively for each prior period presented or via a cumulative effect upon the date of initial application. The Company is currently evaluating the ASU's effect on its financial position, results of operations or cash flows, as well as which transition approach it will take. In July 2 |
Proposed Merger with Dominion R
Proposed Merger with Dominion Resources (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Business Combinations [Abstract] | |
Proposed Merger with Dominion | Proposed Merger with Dominion Resources On January 31, 2016 , Questar Corporation, a Utah corporation, entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among the Company, Dominion Resources, Inc., a Virginia corporation (“Parent”) and Diamond Beehive Corp., a Utah corporation and a direct wholly-owned subsidiary of Parent (“Merger Sub”). The Merger Agreement provides for the merger of Merger Sub with and into the Company on the terms and subject to the conditions set forth in the Merger Agreement (the “Merger”), with the Company continuing as the surviving corporation in the Merger and becoming a direct, wholly-owned subsidiary of Parent. At the effective time of the Merger (the “Effective Time”), by virtue of the Merger and without any action on the part of the Company, Parent or Merger Sub or any holder of any shares of common stock, no par value per share, of the Company (the “Company Common Stock”) or any shares of capital stock of Merger Sub, each share of the Company Common Stock issued and outstanding immediately prior to the Effective Time (other than Dissenting Shares and shares of Company Common Stock that are owned by Parent or Merger Sub or any of their respective subsidiaries, in each case immediately prior to the Effective Time) will be converted automatically into the right to receive $25.00 in cash, without interest. Closing of the Merger is subject to the satisfaction or waiver of specified closing conditions, including (i) the approval of the Merger by the holders of a majority of the outstanding shares of Company Common Stock, (ii) the receipt of regulatory approvals required to close the Merger, including approvals from the Public Service Commission of Utah (if required) and the Public Service Commission of Wyoming, (iii) the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, (iv) the absence of any law, statute, ordinance, code, rule, regulation, ruling, decree, judgment, injunction or order of a governmental authority that prohibits the consummation of the Merger, and (v) other customary closing conditions, including (a) the accuracy of each party’s representations and warranties (subject to customary materiality qualifiers), (b) each party’s compliance in all material respects with its obligations and covenants contained in the Merger Agreement, and (c) the absence of a material adverse effect on the Company. In addition, the obligations of Parent and Merger Sub to consummate the Merger are subject to the required regulatory approvals not imposing or requiring any undertakings, terms, conditions, liabilities, obligations, commitments or sanctions, or any structural or remedial actions that constitute a Company Material Adverse Effect. The Merger Agreement also contains customary representations, warranties and covenants of both the Company and Parent. These covenants include, among others, an obligation on behalf of the Company to use reasonable best efforts to conduct its business in all material respects in the ordinary course until the Merger is consummated, subject to certain exceptions. The Company has made certain additional customary covenants, including, among others, subject to certain exceptions, (a) causing a meeting of the Company’s shareholders to be held to consider approval of the Merger Agreement, and (b) a customary non-solicitation covenant prohibiting the Company from soliciting, providing non-public information or entering into discussions or negotiations concerning proposals relating to alternative business combination transactions, except as permitted under the Merger Agreement. In addition, the parties are required to use reasonable best efforts to obtain any required regulatory approvals. The Merger Agreement may be terminated by each of the Company and Parent under certain circumstances, including if the Merger is not consummated by February 28, 2017 (subject to certain extension rights, up to a maximum of nine months , as specified in the Merger Agreement). The Merger Agreement contains certain termination rights for both Parent and the Company, and provides that, upon termination of the Merger Agreement under specified circumstances, Parent would be required to pay a termination fee of $154 million to the Company (the “Parent Termination Fee”) and the Company would be required to pay Parent a termination fee of $99 million (the “Company Termination Fee”). The Company Termination Fee is payable under certain specified circumstances, including (i) termination of the Merger Agreement by the Company in order to enter into a definitive agreement with respect to certain business combinations, and (ii) termination of the Merger Agreement by Parent following a withdrawal by the Company Board of its recommendation of the Merger Agreement. The Company will also be required to pay Parent the Company Termination Fee in the event the Company signs an alternative transaction within twelve months following the termination of the Merger Agreement under certain specified circumstances. In addition, upon termination of the Merger Agreement in certain specified circumstances, the Company would be required to reimburse Parent for certain expenses incurred by Parent and its affiliates and representatives in connection with transaction, in an amount not to exceed $5 million . The Parent Termination Fee is payable by the Parent in certain specified circumstances if the Merger Agreement is terminated under certain circumstances due to the failure to obtain certain regulatory approvals as a result of the imposition of a Burdensome Condition or the material breach by Parent of its obligations to obtain certain regulatory approvals. Acquisitions In December 2015 , Wexpro acquired working interests in 75 producing wells and 112 future drilling locations in the Vermillion Basin in southwestern Wyoming for $16.0 million . The financial impact of this transaction is not significant therefore, no supplem ental pro forma income information is presented. In March 2015 , Questar Gas purchased Eagle Mountain City's municipal natural gas system for $11.4 million . At the time of acquisition, the city had over 6,500 natural gas customers. The financial impact of this transactions is not significant therefore, no supplemental pro forma income information is presented. In December 2014 , Wexpro acquired an additional interest in natural gas-producing properties in existing Wexpro-operated assets in the Canyon Creek Unit of southwestern Wyoming's Vermillion Basin for about $52.6 million , after post-closing adjustments. This is a "bolt-on" acquisition to the company's current Canyon Creek assets, which are governed by the 1981 Wexpro Agreement. In the fourth quarter of 2015, the Public Service Commission of Utah and the Wyoming Public Service Commission (the Commissions) approved the inclusion of the these properties in the Wexpro II Agreement, effective December 1, 2015. In September 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 (Trail acquisition) for $104.3 million , after post-closing adjustments. This acquisition was an addition to the company’s existing Trail assets, which are governed by the 1981 Wexpro Agreement. In the first quarter of 2014, the Public Service Commission of Utah and the Wyoming Public Service Commission (the Commissions) approved the inclusion of these properties in the Wexpro II Agreement, effective February 1, 2014. |
Earnings Per Share (Notes)
Earnings Per Share (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share Earnings Per Share A reconciliation of the components of basic and diluted shares used in the EPS calculation follows: Year Ended December 31, 2015 2014 2013 (in millions) Weighted-average basic common shares outstanding 176.1 175.8 175.4 Potential number of shares issuable under the Company's LTSIP 0.2 0.3 0.6 Weighted-average diluted common shares outstanding 176.3 176.1 176.0 In the past three years, Questar had the ability to issue shares under the terms of the Dividend Reinvestment and Stock Purchase Plan, 401(k) Retirement Income Plan (see Note 14) and LTSIP (see Note 13). Dividend Reinvestment and Stock Purchase Plan The Dividend Reinvestment and Stock Purchase Plan allows shareholders to reinvest dividends or invest additional funds in Questar common stock. The Company can issue new shares or buy shares in the open market to meet shareholders' purchase requests. The Company bought shares in the open market to satisfy shareholders' purchases in 2015 , 2014 , and 2013 and no shares were issued. At December 31, 2015 , there were 19,872,261 shares reserved and authorized for future issuance. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Other Comprehensive Income [Abstract] | |
Accumulated Other Comprehensive Income | Accumulated Other Comprehensive Income Details of the changes in the components of AOCI, net of income taxes, as reported in Questar's Consolidated Statements of Common Shareholders' Equity, are shown in the tables below. The tables also disclose details of income taxes related to each component of OCI: Pension OPB Interest rate cash flow hedges Commodity cash flow hedges Long-term invest. Total Actuarial loss Prior service cost Total Act. loss and prior serv. cost (in millions) Balances at December 31, 2013 $ (108.4 ) $ (0.4 ) $ (108.8 ) $ (10.2 ) $ (22.9 ) $ — $ 0.1 $ (141.8 ) OCI before reclassifications (111.5 ) — (111.5 ) (2.1 ) — — — (113.6 ) Reclassified from AOCI (1) 15.4 0.6 16.0 0.7 0.5 — — 17.2 Income taxes OCI before reclassifications 42.6 — 42.6 0.8 — — — 43.4 Reclassified from AOCI (2) (5.9 ) (0.2 ) (6.1 ) (0.3 ) (0.1 ) — — (6.5 ) Total income taxes 36.7 (0.2 ) 36.5 0.5 (0.1 ) — — 36.9 Net other comprehensive income (loss) (59.4 ) 0.4 (59.0 ) (0.9 ) 0.4 — — (59.5 ) Balances at December 31, 2014 (167.8 ) — (167.8 ) (11.1 ) (22.5 ) — 0.1 (201.3 ) OCI before reclassifications 0.6 — 0.6 1.8 — 1.2 — 3.6 Reclassified from AOCI (1)(3) 21.9 0.1 22.0 1.2 0.6 (1.4 ) — 22.4 Income taxes OCI before reclassifications (0.2 ) — (0.2 ) (0.7 ) — (0.4 ) — (1.3 ) Reclassified from AOCI (2)(4) (8.4 ) — (8.4 ) (0.5 ) (0.3 ) 0.5 — (8.7 ) Total income taxes (8.6 ) — (8.6 ) (1.2 ) (0.3 ) 0.1 — (10.0 ) Net other comprehensive income (loss) 13.9 0.1 14.0 1.8 0.3 (0.1 ) — 16.0 Balances at December 31, 2015 $ (153.9 ) $ 0.1 $ (153.8 ) $ (9.3 ) $ (22.2 ) $ (0.1 ) $ 0.1 $ (185.3 ) (1) Interest rate cash flow hedge amounts are included in their entirety as charges to interest expense on the Consolidated Statements of Income. (2) Income tax reclassifications related to interest rate cash flow hedge amounts are included in their entirety as credits to income taxes on the Consolidated Statements of Income. (3) Commodity cash flow hedge amounts are included in their entirety as an increase in Questar Pipeline revenue on the Consolidated Statements of Income. (4) Income tax reclassifications related to commodity cash flow hedge amounts are included in their entirety as charges to income taxes on the Consolidated Statements of Income. Pension and other postretirement benefit AOCI reclassifications are included in the computation of net periodic pension and postretirement benefit costs. See Note 14 for additional details. Disclosures regarding interest rate and commodity-based cash flow hedges, including income taxes and income statement reclassification effects, apply to Questar Pipeline. The commodity cash flow hedge amounts reclassified from AOCI (pre-tax) are included in their entirety as an increase in Questar Pipeline revenue on the Questar Pipeline income statement; $1.0 million is included in revenues from unaffiliated customers and $0.4 million is included in revenues from affiliated companies. |
Asset Retirement Obligations (N
Asset Retirement Obligations (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Asset Retirement Obligation [Abstract] | |
Asset Retirement Obligations | Asset Retirement Obligations Changes in Questar's AROs from the Consolidated Balance Sheets were as follows: Year Ended December 31, 2015 2014 (in millions) AROs at beginning of year $ 69.3 $ 67.7 Accretion 3.3 3.4 Liabilities incurred 1.9 3.3 Revisions in estimated cash flows 1.8 (2.7 ) Liabilities settled (8.7 ) (2.4 ) AROs at end of year $ 67.6 $ 69.3 Questar's consolidated AROs by line of business are summarized in the table below: December 31, 2015 2014 (in millions) Questar Gas $ 0.6 $ 0.6 Wexpro 64.6 66.3 Questar Pipeline 2.3 2.3 Other 0.1 0.1 Total $ 67.6 $ 69.3 Wexpro collects from Questar Gas and deposits in trust certain funds related to estimated ARO costs. The funds are recorded as other noncurrent assets on the Consolidated Balance Sheets and are 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 agreements is defined in a guideline letter between Wexpro and the Utah Division of Public Utilities and the staff of the PSCW. |
Fair Value Measurements (Notes)
Fair Value Measurements (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Questar complies with the accounting standards for fair value measurements and disclosures. These standards define fair value in applying GAAP, establish a framework for measuring fair value and require disclosures about fair value measurements. 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 December 31, 2015 or 2014 . Fair value accounting standards also apply to certain nonfinancial assets and liabilities that are measured at fair value on a nonrecurring basis. The Company recorded a pre-tax abandonment and impairment charge of $12.1 million for the South Moxa leasehold. Thus, the South Moxa leasehold was reported at fair value on a nonrecurring basis at December 31, 2015 . Questar did not have any assets or liabilities measured at fair value on a nonrecurring basis in 2014 . Questar primarily applies the market approach for recurring fair value measurements and maximizes its use of observable inputs and minimizes its use of unobservable inputs. Questar considers bid and ask prices for valuing the majority of its assets and liabilities measured and reported at fair value. In addition to using market data, Questar makes assumptions in valuing its assets and liabilities, including assumptions about the risks inherent in the inputs to the valuation technique. 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 Annual Report: Hierarchy Level of Fair Value Estimates Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value December 31, 2015 December 31, 2014 (in millions) Financial assets Cash and cash equivalents 1 $ 25.0 $ 25.0 $ 32.0 $ 32.0 Long-term investment 1 14.1 14.1 15.7 15.7 Financial liabilities Short-term debt 1 457.6 457.6 347.0 347.0 Long-term debt, including current portion 2 1,218.3 1,263.7 1,245.2 1,356.1 The carrying amounts of cash and cash equivalents 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 representing 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. The Questar Condensed Consolidated Balance Sheet included a nonrecurring fair value measurement at June 30, 2014 related to the impairment of Wexpro's investment in the Brady field. The asset's fair value of zero was based on Wexpro's assessment that the field had reached the end of its productive life and would no longer generate positive cash flows. This was a Level 3 fair value measurement because the inputs were unobservable. See Note 17 for additional information. 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 Annual Report: Hierarchy Level of Fair Value Estimates Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value December 31, 2015 December 31, 2014 (in millions) Financial assets Cash and cash equivalents 1 $ 10.5 $ 10.5 $ 19.8 $ 19.8 Financial liabilities Notes payable to Questar 1 273.3 273.3 119.3 119.3 Long-term debt 2 534.5 568.4 534.5 607.2 The carrying amounts of cash and cash equivalents approximate fair value. The carrying amounts of notes payable to Questar approximate fair value because of their short maturities and 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 Annual Report: Hierarchy Level of Fair Value Estimates Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value December 31, 2015 December 31, 2014 (in millions) Financial assets Cash and cash equivalents 1 $ 10.2 $ 10.2 $ 7.4 $ 7.4 Notes receivable from Questar 1 6.0 6.0 40.1 40.1 Financial liabilities Long-term debt, including current portion 2 433.6 445.2 458.8 495.5 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 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. |
Derivatives and Hedging (Notes)
Derivatives and Hedging (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging | Derivatives and Hedging 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 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 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. See the Consolidated Statements of Comprehensive Income and Note 4 for details regarding reclassifications of AOCI related to deferred interest rate cash flow hedge losses to interest expense for 2015 , 2014 and 2013 . Reclassifications into earnings of amounts reported in AOCI will continue as interest expense is recorded for the hedged interest payments through maturity in 2041 . Pre-tax net losses of $0.6 million are expected to be reclassified from AOCI to the Consolidated Statements of Income in the next 12 months . There was a $0.2 million liability at December 31, 2015 and no derivative assets or liabilities outstanding at or December 31, 2014 . |
Debt (Notes)
Debt (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Debt | Debt The Company has revolving credit facilities with various banks to provide back-up credit liquidity support for its commercial paper program. Credit commitments under the revolving credit facilities totaled $500 million under the multi-year credit facility and $250 million under the 364-day facility at December 31, 2015 , with no amounts borrowed. These revolving credit facilities have interest-rate options generally below the prime interest rate and carry commitment fees on the unused balance. A covenant associated with the revolving credit facilities stipulates that consolidated funded debt cannot exceed 70% of consolidated capitalization. The Company was in compliance with this covenant at December 31, 2015 . These credit facilities expire upon a change of control such as the proposed Merger with Dominion Resources. However, the Company has amended its credit facilities to extend through the closing of the proposed Merger with Dominion Resources. The details of short-term debt are as follows: December 31, 2015 2014 (in millions) Commercial paper with various interest rates $ 457.6 $ 347.0 Weighted-average interest rate at end of year 0.50 % 0.23 % Availability under the revolving credit facilities is reduced by outstanding commercial paper amounts. At December 31, 2015 , Questar had net availability under the facilities of $292.4 million . Questar centrally manages cash. Questar makes loans to Questar Gas and Questar Pipeline under a short-term borrowing arrangement. The interest rate paid on amounts borrowed is identical to the rate earned on amounts loaned under the arrangement. The rate is adjusted monthly based on prevailing short-term market interest rates. The following table details the notes payable to Questar from Questar Gas and the associated interest rates. There were no notes payable to Questar from Questar Pipeline at December 31, 2015 or 2014 . December 31, 2015 2014 (in millions) Questar Gas Notes payable to Questar $ 273.3 $ 119.3 Interest rate at end of year 0.35 % 0.25 % All short- and long-term debt and the revolving credit facilities are unsecured obligations and rank equally with all other unsecured liabilities. The terms of the Questar Corporation, Questar Gas and Questar Pipeline long-term debt obligations do not have dividend-payment restrictions. The details of long-term debt are as follows: December 31, 2015 2014 (in millions) Questar Corporation 2.75% Notes due 2016 $ 250.0 $ 250.0 Questar Gas 5.31% and 6.85% Medium-term Notes due 2017 and 2018 84.5 84.5 6.30% Notes due 2018 50.0 50.0 2.98% Notes due 2024 40.0 40.0 3.28% Notes due 2027 110.0 110.0 7.20% Notes due 2038 100.0 100.0 4.78% Notes due 2043 90.0 90.0 4.83% Notes due 2048 60.0 60.0 Total Questar Gas long-term debt 534.5 534.5 Questar Pipeline 6.48% Medium-term Notes due 2018 5.0 30.1 5.83% Notes due 2018 250.0 250.0 4.875% Notes due 2041 180.0 180.0 Total Questar Pipeline long-term debt 435.0 460.1 Total long-term debt outstanding 1,219.5 1,244.6 Less current portion (250.2 ) (25.1 ) Less unamortized debt discount (1.7 ) (1.9 ) Plus unamortized debt premium 0.3 0.5 Plus fair value hedge adjustment 0.2 2.0 Total long-term debt, less current portion $ 968.1 $ 1,220.1 The aggregate maturities of Questar Corporation, Questar Gas and Questar Pipeline long-term debt for the next five years are as follows: Questar Corporation Questar Gas Questar Pipeline Total Years Ending December 31, (in millions) 2016 $ 250.0 $ — $ — $ 250.0 2017 — 14.5 — 14.5 2018 — 120.0 255.0 375.0 2019 — — — — 2020 — — — — Questar Corporation Notes of $250.0 million at 2.75% were repaid on February 1, 2016. The Company used commercial paper to fund this repayment. |
Income Taxes (Notes)
Income Taxes (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes Questar Details of Questar's income tax expense and deferred income taxes are provided in the following tables. The components of income tax expense were as follows: Year Ended December 31, 2015 2014 2013 (in millions) Federal Current $ 45.1 $ 69.6 $ 66.5 Deferred 56.3 47.5 18.4 State Current 5.1 6.9 10.7 Deferred 4.3 2.1 5.9 Deferred investment tax credits recognized (0.2 ) (0.2 ) (0.2 ) Total income tax expense $ 110.6 $ 125.9 $ 101.3 The difference between the statutory federal income tax rate and the Company's effective income tax rate is explained as follows: Year Ended December 31, 2015 2014 2013 Federal income taxes statutory rate 35.0 % 35.0 % 35.0 % Increase (decrease) in rate as a result of: State income taxes, net of federal income tax benefit 1.9 1.6 4.0 Domestic production deduction (2.0 ) (1.5 ) (1.5 ) Amortization of investment tax credits related to rate-regulated assets (0.1 ) — — Tax benefits from dividends paid to employee stock plan (1.2 ) (1.0 ) (1.0 ) Other 1.0 1.6 2.1 Effective income tax rate 34.6 % 35.7 % 38.6 % The combined income tax rate decreased in 2015 due to an exclusion from taxable income of excise tax credits previously included in income and an increase in the domestic production deduction. The combined federal and state income tax rate was lower in 2014 due to research and development and state tax credits and an increase in the domestic production deduction. The 2013 combined effective federal and state income tax rate increased due to the impairment of Southern Trails Pipeline. There was no state tax benefit recorded in association with the impairment charge because the Company has limited state operations for Southern Trails Pipeline. The effective combined federal and state income tax rate also increased in 2013 due to adjustments to estimated state income taxes for the consolidated Questar return that were in excess of state income taxes calculated on a separate return basis for the operating companies. Significant components of Questar's deferred income taxes were as follows: December 31, 2015 2014 (in millions) Deferred income taxes - noncurrent Deferred tax liabilities Property, plant and equipment $ 881.8 $ 827.0 Employee benefits 53.6 52.0 Other 0.6 0.5 Deferred tax liabilities - noncurrent 936.0 879.5 Deferred tax assets Asset retirement obligations 21.3 22.5 Pension and other postretirement benefits 101.0 110.8 Deferred compensation 13.6 15.7 Hedging activities 13.1 13.2 State tax credits 3.4 3.3 Valuation allowance (2.3 ) (1.6 ) Deferred tax assets, net of allowance - noncurrent 150.1 163.9 Net deferred income tax liability - noncurrent $ 785.9 $ 715.6 Deferred income taxes - current Deferred tax assets - current $ 14.9 $ 15.7 Deferred tax liabilities - current 8.5 9.9 Net deferred income tax asset - current $ 6.4 $ 5.8 Questar Gas Details of Questar Gas's income tax expense and deferred income taxes are provided in the following tables. The components of income tax expense were as follows: Year Ended December 31, 2015 2014 2013 (in millions) Federal Current $ (16.0 ) $ (11.9 ) $ 6.0 Deferred 48.8 42.4 23.5 State Current (2.0 ) (1.9 ) 0.6 Deferred 4.2 3.6 2.0 Deferred investment tax credit recognized (0.2 ) (0.2 ) (0.2 ) Total income tax expense $ 34.8 $ 32.0 $ 31.9 The difference between the statutory federal income tax rate and Questar Gas's effective income tax rate is explained as follows: Year Ended December 31, 2015 2014 2013 Federal income taxes statutory rate 35.0 % 35.0 % 35.0 % Increase (decrease) in rate as a result of: State income taxes, net of federal income tax benefit 1.4 1.3 2.1 Amortization of investment tax credits related to rate-regulated assets (0.2 ) (0.2 ) (0.3 ) Other (1.1 ) 0.6 0.9 Effective income tax rate 35.1 % 36.7 % 37.7 % Significant components of Questar Gas's deferred income taxes were as follows: December 31, 2015 2014 (in millions) Deferred income taxes - noncurrent Deferred tax liabilities Property, plant and equipment $ 403.0 $ 354.4 Employee benefits 28.0 23.5 Other 0.6 0.5 Deferred tax liabilities - noncurrent 431.6 378.4 Deferred tax assets Deferred compensation 0.9 0.9 Deferred tax assets - noncurrent 0.9 0.9 Net deferred income tax liability - noncurrent $ 430.7 $ 377.5 Deferred income taxes - current Deferred tax assets - current $ 2.5 $ 3.6 Deferred tax liabilities - current 8.5 9.9 Net deferred income tax liability - current $ 6.0 $ 6.3 Questar Pipeline Details of Questar Pipeline's income tax expense and deferred income taxes are provided in the following tables. The components of income tax expense were as follows: Year Ended December 31, 2015 2014 2013 (in millions) Federal Current $ 21.7 $ 21.9 $ 20.2 Deferred 10.0 11.6 (15.2 ) State Current 1.0 1.0 1.3 Deferred 0.7 1.1 0.7 Total income tax expense $ 33.4 $ 35.6 $ 7.0 The difference between the statutory federal income tax rate and Questar Pipeline's effective income tax rate is explained as follows: Year Ended December 31, 2015 2014 2013 Federal income taxes statutory rate 35.0 % 35.0 % 35.0 % Increase in rate as a result of: State income taxes, net of federal income tax benefit 1.2 1.5 8.5 Other (0.3 ) 0.5 2.6 Effective income tax rate 35.9 % 37.0 % 46.1 % The 2013 combined effective federal and state income tax rate increased due to the impairment of Southern Trails Pipeline. There was no state tax benefit recorded in association with the impairment charge because the company has limited state operations for Southern Trails Pipeline. Significant components of Questar Pipeline's deferred income taxes were as follows: December 31, 2015 2014 (in millions) Deferred income taxes - noncurrent Deferred tax liabilities Property, plant and equipment $ 254.0 $ 246.1 Employee benefits 12.4 10.8 Deferred tax liabilities - noncurrent 266.4 256.9 Deferred tax assets Deferred compensation 1.6 2.0 Hedging activities 13.1 13.2 State tax credits 0.7 0.7 Valuation allowance (0.5 ) (0.4 ) Deferred tax assets, net of allowance - noncurrent 14.9 15.5 Net deferred income tax liability - noncurrent $ 251.5 $ 241.4 Net deferred income tax asset - current $ 1.6 $ 1.9 |
Contingencies, Commitments and
Contingencies, Commitments and Leases (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments, Contingencies and Leases | Contingencies, Commitments and Leases Contingencies Questar and each of its subsidiaries are involved in various commercial, environmental, and regulatory claims. Litigation and other legal proceedings arise in the ordinary course of business. Except as stated below concerning the QEP lawsuit, management does not believe any litigation or other legal proceedings individually or in the aggregate will have a material adverse effect on Questar's, Questar Gas's or Questar Pipeline's financial position, results of operations or cash flows. A liability is recorded for a loss contingency when its occurrence is probable and its amount can be reasonably estimated. If some amount within a range of possible outcomes appears to be a better estimate than any other amount within the range, that amount is recorded. Otherwise, the minimum amount in the range is recorded. Disclosures are provided for contingencies reasonably likely to occur, which would have a material adverse effect on Questar's, Questar Gas's or Questar Pipeline's financial position, results of operations or cash flows. Some of the claims involve highly complex issues relating to liability, damages and other matters subject to substantial uncertainties and, therefore, the probability of liability or an estimate of loss cannot be reasonably determined. Litigation On May 1, 2012, Questar Gas Company filed a legal action against QEP Field Services Company, a subsidiary of QEP Resources, Inc. The case, entitled Questar Gas Company v. QEP Field Services Company , was filed in the Third District Court in Salt Lake County, Utah. Questar Gas believes certain charges of QEP Field Services Company for gathering services exceed the amounts contemplated under a Gas Gathering Agreement, effective September 1, 1993, pertaining to certain gas produced by Wexpro Company under the Wexpro Agreement. Questar Gas is alleging breach of contract by QEP Field Services Company and is seeking an accounting, damages and a declaratory judgment relating to the services and charges under the Gas Gathering Agreement. The charges under the Gas Gathering Agreement are included in Questar Gas's rates as part of its purchased-gas costs. QEP Field Services Company filed an answer and counterclaim alleging that Questar Gas breached the Agreement by failing to allow QEP Field Services to gather and process gas from certain wells located in two fields in the state of Wyoming. On August 13, 2013, QEP Field Services Company assigned its interest in the Gas Gathering Agreement to QEPM Gathering I, LLC, a subsidiary of the general partner of the master limited partnership QEP Midstream Partners. Plaintiffs have filed an amended complaint naming QEP Midstream Partners, LP; QEP Midstream Partners GP, LLC; QEP Midstream Partners Operating, LLC; and QEPM Gathering I, LLC (QEP MLP Entities). QEP Field Services and Tesoro Logistics LP (Tesoro) entered into a Membership Interest Purchase Agreement dated October 19, 2014, to transfer QEP Field Services’ interest in the QEP MLP Entities and related assets and liabilities of QEP Field Services to Tesoro, including control of this legal action. Tesoro closed on the transaction for QEP’s midstream business on December 2, 2014. On December 2, 2014, the court issued a memorandum decision granting two motions for partial summary judgment for breach of contract filed by Questar Gas. The court found QEP Field Services Company breached the Gas Gathering Agreement by overcharging Questar Gas in its gathering rates. The court also denied two motions for partial summary judgment filed by QEP Field Services to reduce or limit contract damages. The court also denied cross-motions for partial summary judgment filed by both parties relating to another claim of breach of contract. The issues raised by the cross-motions, QEP Field Services’ counterclaim and damages on all claims are currently reserved for trial. Trial has been scheduled for April 2016. While Questar Gas intends to vigorously pursue its legal rights, the claims and counterclaims involve complex legal issues and uncertainties that make it difficult to predict the outcome of the case and therefore management cannot determine at this time whether this litigation may have a material adverse effect on its financial position, results of operations or cash flows. In February 2015, a trial was held in the case of Rocky Mountain Resources and Robert N. Floyd v. QEP Energy Company and Wexpro Company , Ninth Judicial District, County of Sublette, State of Wyoming, Case No. 2011-7816. Plaintiffs allege they are entitled to a 4% overriding royalty interest (ORRI) in a so-called replacement state oil and gas lease ultimately assigned to Wexpro and QEP Energy Company (QEP) in the Pinedale Field. Wexpro and QEP believe the former state leases subject to the ORRI expired and a new lease was issued by the State of Wyoming unburdened by the 4% ORRI. A jury decision was reached on February 13, 2015, that awarded the Plaintiffs $14.1 million from Wexpro and $16.2 million from QEP. Wexpro and QEP have filed an appeal of the case to the Wyoming Supreme Court. Wexpro has accrued its estimate of additional royalties in the case. Any additional royalties will be recovered from Questar Gas’s customers. On February 8, 2016, Plaintiffs filed the following class action in the Third District Court in Salt Lake City, Utah, Teamsters Local 456 Pension Fund and Teamsters Local 456 Annuity Fund v. Questar Board of Directors, Questar Corporation and Dominion Corporation. Another class action, Eric Senatori v. Dominion Resources, Questar Board of Directors and Questar Corporation was filed in the Third District Court in Salt Lake City, Utah on February 17, 2016. In these cases the Plaintiffs claim that the defendants breached their fiduciary duty of loyalty and due cause owed to the Plaintiffs thereby failing to maximize the value of Questar to its public stockholders. Plaintiffs demand injunction and monetary relief by enjoining Defendants from proceeding with the Proposed Merger and awarding monetary damages. Environmental Liabilities Questar incurs environmental remediation costs related to both owned and previously-owned facilities, including transmission and production facilities and manufactured gas plant sites. In 2014, Questar increased its environmental liability by $5.0 million to $5.4 million . This liability relates to a previously-owned chemical company and was increased due to changes in the costs of estimated future monitoring activities. The liability is based on undiscounted cash flows and is reported as a component of other noncurrent liabilities on the Consolidated Balance Sheets. The Company does not expect to incur significant additional losses related to this site. Commitments Questar Gas Currently, the majority of Questar Gas's natural gas supply is provided by cost-of-service reserves developed and produced by Wexpro. In 2015 , Questar Gas purchased the remainder of its gas supply from multiple third parties under index-based or fixed-price contracts. Questar Gas has commitments to purchase gas for $22.5 million in 2016 , $13.6 million in 2017 , $15.9 million in 2018 , 2019 and 2020 based on current prices. Generally, at the conclusion of the heating season and after a bid process, new agreements for the next heating season are put in place. Questar Gas bought natural gas under third-party purchase agreements amounting to $82.4 million in 2015 , $135.8 million in 2014 and $186.5 million in 2013 . In addition, Questar Gas stores gas during off-peak periods (typically during the summer) and withdraws gas from storage to meet peak gas demand (typically in the winter). The company has contracted for transportation and underground storage services with Questar Pipeline. Annual payments for these services amount to $70.5 million in 2016 , $43.2 million in 2017 , $13.4 million in 2018 , $5.2 million in 2019 , and $2.4 million in 2020 . Questar Gas has third-party transportation and gathering commitments requiring yearly payments of $31.0 million in 2016 and 2017 , $29.1 million in 2018 , and $26.8 million in 2019 and 2020 . Leases In June 2010, Questar entered into a lease agreement for a new headquarters building. The lease term is 17 years and commenced on May 1, 2012 . Rental payments under the lease escalate at a rate of 3% per year during the lease term. The lease agreement does not include bargain renewal periods or material rent holidays and is not subject to contingent rent or other unusual provisions. Questar accounts for this lease as a capital lease. Other property, plant and equipment on the Consolidated Balance Sheets includes $40.8 million under the capital lease as of December 31, 2015 and 2014 . Other accumulated depreciation and amortization on the Consolidated Balance Sheets includes $9.1 million and $6.7 million under the capital lease as of December 31, 2015 and 2014 , respectively. Amortization of the asset under the capital lease is included with depreciation, depletion and amortization on the Consolidated Statements of Income. Future minimum lease payments for the five years following 2015 and the years thereafter are shown in the table below. Also shown is the present value of minimum lease payments at December 31, 2015 , which is reflected on the Consolidated Balance Sheets as current and noncurrent capital lease obligations of $1.2 million and $36.0 million , respectively. Years Ending December 31, (in millions) 2016 $ 3.2 2017 3.6 2018 3.7 2019 3.8 2020 3.9 After 2020 37.2 Total minimum lease payments 55.4 Less: amount representing interest (18.2 ) Present value of minimum lease payments at December 31, 2015 $ 37.2 |
Wexpro and Wexpro II Agreements
Wexpro and Wexpro II Agreements and Stipulations (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Wexpro Agreement [Abstract] | |
Wexpro and Wexpro II Agreements and Stipulations | Wexpro and Wexpro II Agreements and Stipulations Wexpro's operations are subject to the terms of the Wexpro and Wexpro II agreements, the Trail Stipulation and the Canyon Creek Stipulation. The original Wexpro Agreement was effective August 1, 1981 , and sets forth the rights of Questar Gas to receive certain benefits from Wexpro's operations. The agreement was approved by the PSCU and PSCW (the Commissions) in 1981 and affirmed by the Supreme Court of Utah in 1983 . The Wexpro II Agreement was modeled after the original Wexpro Agreement and allows for the addition of properties under the cost-of-service methodology for the benefit of Questar Gas customers. The Wexpro II Agreement was approved by the Commissions in 2013. The Utah Division of Public Utilities and the staff of the PSCW are entitled to review the performance of Questar Gas and Wexpro under the Wexpro agreements and have retained an independent certified public accountant and an independent petroleum engineer to monitor the performance of the agreements. In the first quarter of 2014, the Commissions approved a Stipulation for inclusion of the Trail acquisition in the Wexpro II Agreement. As part of this Stipulation, Wexpro agreed to manage the combined production from the original Wexpro properties and the Trail acquisition to 65% of Questar Gas's annual forecasted demand. Beginning in June 2015 through May 2016 and for each subsequent 12-month period, if the combined annual production exceeds 65% of the forecasted demand and the cost-of-service price is greater than the Questar Gas purchased-gas price, an amount equal to the excess production times the excess price will be credited back to Questar Gas customers. Wexpro may also sell production to manage the 65% level and credit back to Questar Gas customers the higher of market price or the cost-of-service price times the sales volumes. In December 2014, Wexpro acquired an additional interest in its existing Wexpro-operated assets in the Canyon Creek Unit of southwestern Wyoming's Vermillion Basin. During 2015 Wexpro and Questar Gas submitted an application to the Commissions for approval to include the acquired Canyon Creek properties under the terms of the Wexpro II Agreement. As part of this application, Wexpro proposed significant changes to its cost-of-service program to enable future cost-of-service gas production to be more competitive with market prices. The proposed changes to the cost-of-service program were subsequently modified by a Settlement Stipulation among Questar Gas, Wexpro, the Utah Division of Public Utilities, the Utah Office of Consumer Services and the Wyoming Office of Consumer Advocate. The proposed modifications to the Wexpro Agreements, as modified by the Settlement Stipulation, were approved by the PSCU on November 17, 2015 and by the PSCW on November 24, 2015. As modified, the Wexpro Agreements include the Canyon Creek acquisition as a Wexpro II property and provide for the following changes to the cost-of-service program: • the return on post-2015 development drilling will be lowered to the Commission allowed rate of return on investment as defined in the Wexpro II Agreement (currently 7.64% ), and the pre-2016 investment base and associated returns will not be affected; • Wexpro and Questar Gas will reduce the threshold of maximum combined production from Wexpro properties from 65% of Questar Gas's annual forecasted demand to 55% in 2020; • Dry-hole and non-commercial well costs will be shared on a 50% / 50% basis between utility customers and Wexpro so long as the costs allocated to utility customers do not exceed 4.5% of Wexpro's annual development drilling program costs; • Wexpro will share in 50% of the savings when the annual price of cost-of-service production is lower than the annual average market price. However Wexpro's 50% share of any annual savings will be limited so that Wexpro will not earn a return exceeding the return earned on gas development investment under the 1981 Wexpro Agreement. Major provisions of the agreements and stipulations are as follows: a. Wexpro conducts gas-development drilling on productive gas properties, including properties acquired and approved for inclusion in the Wexpro II Agreement, and bears any costs of dry holes. Natural gas produced from successful drilling on these properties is delivered to Questar Gas. Wexpro is reimbursed for the costs of producing the natural gas plus a return on its investment in successful wells. The after-tax return allowed Wexpro is adjusted annually and is currently 20.0% for pre-2016 gas-development drilling and 7.64% for post-2015 gas-development drilling. b. Wexpro operates certain natural gas properties for Questar Gas. Wexpro is reimbursed for its costs of operating these properties, including a rate of return on any investment it makes. This after-tax rate of return is adjusted annually and is currently 12.0% . c. Wexpro conducts developmental-oil drilling on productive oil properties and bears any costs of dry holes. Oil and NGL produced from these properties is sold at market prices, with the revenues used to recover operating expenses and to give Wexpro a return on its investment in successful wells. The after-tax rate of return is adjusted annually and is currently 17.0% . Any operating income remaining after recovery of expenses and Wexpro's return on investment is divided between Wexpro and Questar Gas, with Wexpro retaining 46% and Questar Gas retaining 54% . d. Crude oil and NGL production from certain oil-producing properties is sold at market prices, with the revenues used to recover operating expenses and to provide Wexpro a return on its investment. The after-tax rate of return on investments in these properties is adjusted annually and is currently 12.0% . Any operating income remaining after recovery of expenses and Wexpro's return on investment is divided between Wexpro and Questar Gas, with Wexpro retaining 46% . e. Amounts received by Questar Gas from the sharing of Wexpro's oil and NGL income are used to reduce natural gas costs to utility customers. f. Acquired natural gas production from properties approved by the Commissions for inclusion in the Wexpro II Agreement is delivered to Questar Gas. Wexpro is reimbursed for the costs of producing the natural gas plus a return on its acquisition investment. The after-tax return allowed Wexpro is adjusted periodically and is currently 7.64% . g. Wexpro's return on investment base for pre-2015 properties is determined based on authorized returns from a group of rate-regulated companies plus an 8% risk premium for natural gas development drilling costs and a 5% risk premium for oil development drilling costs. The authorized returns for this group of companies have declined in recent years, resulting in lower returns on investment base for Wexpro. Wexpro's return on investment base for Wexpro II property acquisition costs is based on Questar Gas's approved cost of capital. Wexpro's net investment base, yearly average rate of return, and oil and NGL income shared with Questar Gas are shown in the table below: Year Ended December 31, 2015 2014 2013 Wexpro net investment base at December 31, (in millions) $ 642.9 $ 649.0 $ 589.7 Average annual rate of return (after tax) 17.5 % 17.9 % 19.7 % Oil and NGL income sharing (in millions) $ — $ — $ 0.6 The lower returns in 2015 and 2014 were due primarily to the inclusion of the Trail acquisition (see Note 18) in the Wexpro II Agreement. The Wexpro II portion of the investment base earns the lower return described in item f., above. |
Rate Regulation (Notes)
Rate Regulation (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Regulated Operations [Abstract] | |
Rate Regulation | Rate Regulation The following table details regulatory assets and liabilities: December 31, 2015 December 31, 2014 Current Noncurrent Current Noncurrent (in millions) Regulatory assets: Questar Gas Purchased-gas adjustment $ 18.9 $ — $ 39.2 $ — Energy-efficiency program 1.1 — — — Contract withholding 20.3 — 13.6 — Deferred cost-of-service gas charges 19.5 8.1 25.5 9.3 Cost of reacquired debt — 3.8 — 4.3 Pipeline integrity costs 6.3 — — 7.7 Conservation Enabling Tariff 3.6 — — — Other 0.1 — — — Total Questar Gas regulatory assets 69.8 11.9 78.3 21.3 Questar Pipeline Gas imbalance — — 1.2 — Revenue sharing 0.2 — 0.1 — Cost of reacquired debt — 1.8 — 2.2 Income taxes recoverable from customers — — — 0.3 Other — 1.2 — 1.2 Total Questar Pipeline regulatory assets 0.2 3.0 1.3 3.7 Total regulatory assets $ 70.0 $ 14.9 $ 79.6 $ 25.0 Regulatory liabilities: Questar Gas Energy-efficiency program — — 0.3 — Conservation Enabling Tariff — — 12.1 — Cost of plant removal 3.7 65.5 — 60.7 Income taxes refundable to customers — 0.1 — 0.2 Other 0.3 — 0.1 — Total Questar Gas regulatory liabilities 4.0 65.6 12.5 60.9 Questar Pipeline Gas imbalance 2.3 — 0.8 — Revenue sharing 0.1 — 0.1 — Postretirement medical — 10.0 — 9.0 Total Questar Pipeline regulatory liabilities 2.4 10.0 0.9 9.0 Total regulatory liabilities $ 6.4 $ 75.6 $ 13.4 $ 69.9 Questar Gas and Questar Pipeline record regulatory assets and liabilities. They recover the costs of assets but do not generally receive a return on these assets. Following is a description of Questar Gas's regulatory assets and liabilities: - Purchased-gas costs that are different from those provided for in present rates are accumulated and recovered or credited through future rate changes. - The energy-efficiency program relates to funds expended for promoting the conservation of natural gas through advertising, rebates for efficient homes and appliances, and home energy audits. Costs are recovered from customers through periodic rate adjustments. Costs incurred in excess of recoveries result in an asset; recoveries in excess of costs incurred result in a liability. - Questar Gas recorded a regulatory asset for a disputed amount withheld from a supplier of gathering services. The amount withheld will be recovered from customers if it is determined that Questar Gas is required to pay the supplier. - Operating and maintenance, depreciation, depletion and amortization, production taxes and royalties on cost-of-service gas production are recorded when the gas is produced and recovered from customers on a delayed basis, generally within 12 months . - Certain cost-of-service gas charges are recovered over a period greater than 12 months. These include a regulatory asset that represents future expenses related to abandonment of Wexpro-operated gas and oil wells. The regulatory asset is reduced over an 18 -year period following an amortization schedule that commenced January 1, 2003 , or as cash is paid to plug and abandon wells. Noncurrent cost-of-service gas charges also include amounts for production imbalances that will be recovered from customers at the end of the related gas wells' useful lives. - Gains and losses on the reacquisition of debt by rate-regulated companies are deferred and amortized as interest expense over the would-be remaining life of the reacquired debt. The reacquired debt costs had a weighted-average life of approximately 7.2 years as of December 31, 2015 . - The costs of complying with pipeline-integrity regulations are recovered in rates subject to a PSCU order. Questar Gas is allowed to recover $7.0 million per year. Costs incurred in excess of this amount will be recovered in future rate changes. - The CET asset represents actual revenues received that are less than the allowed revenues. Any deficiency in amounts collected are recovered through periodic rate adjustments. - Cost of plant removal represents asset retirement costs recovered from customers for other than legal obligations. - Income taxes refundable to customers arise from adjustments to deferred taxes, refunded over the life of the related property, plant and equipment. Following is a description of Questar Pipeline's regulatory assets and liabilities: - Regulatory assets and liabilities for gas imbalances, fuel over- or under-recovered and sharing interruptible revenues with customers. - Gains and losses on the reacquisition of debt are deferred and amortized as interest expense over the would-be remaining life of the reacquired debt. The reacquired debt costs had a weighted-average life of approximately 6 years as of December 31, 2015 . - Income taxes recoverable from customers arise from adjustments to deferred taxes, recovered over the life of the related property, plant and equipment. - A regulatory liability for the collection of postretirement medical costs allowed in rates in excess of actual charges. Rate Changes Questar Gas is authorized to earn a return on equity of 9.85% in Utah and 9.5% in Wyoming. Effective March 1, 2014, Questar Gas increased its rates in Utah by $7.6 million annually as a result of a general rate case filed in Utah in July 2013. The order in this rate case authorized an allowed return on equity of 9.85% . In December 2014, Questar Gas held hearings on a general rate case in Wyoming. At the hearings the PSCW ordered an increase in annualized revenues of $1.5 million and an authorized return on equity of 9.5% . The change in rates was effective March 1, 2015. |
Share-Based Compensation (Notes
Share-Based Compensation (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-Based Compensation | Share-Based Compensation Questar may issue stock options, restricted shares, RSUs and performance shares to certain officers, employees and non-employee directors under the LTSIP. Questar recognizes expense over time as the stock options, restricted shares, RSUs and performance shares vest. Total share-based compensation expense amounted to $11.4 million in 2015 compared to $12.4 million in 2014 and $10.2 million in 2013 . Cash flow from income tax benefits in excess of recognized compensation expense amounted to $0.6 million in 2015 , $2.2 million in 2014 and $14.0 million in 2013 . At December 31, 2015 , there were 5,940,708 shares available for future grant. The following disclosures under the headings Stock Options , Restricted Shares , Restricted Stock Units and Performance Shares include all awards granted to officers, employees and non-employee directors of Questar and its affiliates. The disclosures under the heading Questar Gas and Questar Pipeline describe the subset of total awards granted to officers and employees of those companies. The Merger Agreement with Dominion Resources, as disclosed in Note 2 - Proposed Merger with Dominion Resources, contains provisions addressing all outstanding stock options, restricted shares, RSUs and performance shares. All such awards vest on the closing date. Stock options are converted to cash at the difference between the $25 per share purchase price and the exercise price. Restricted shares and performance shares are converted to cash at the $25 per share price. Performance shares are paid at the higher of target or actual performance multiplied by the $25 per share price. Stock Options Stock options have terms ranging from five to ten years, with a majority issued with a seven - to ten -year term. Options generally vest in three or four equal, annual installments. There were no unvested stock options at December 31, 2015 or 2014 . No stock options have been granted since 2010 and no stock options were forfeited in 2015 . Stock option transactions and balances under the terms of the LTSIP are summarized below: Options Outstanding Exercise Price Range Weighted-Average Exercise Price Balance at December 31, 2014 435,507 $ 11.40 - $ 17.35 $ 12.46 Exercised (178,112 ) 11.40 - 13.10 11.47 Balance at December 31, 2015 257,395 $ 11.40 - $ 17.35 $ 13.14 Options Outstanding Options Exercisable Range of exercise prices Number outstanding at Dec. 31, 2015 Weighted-average remaining term in years Weighted-average exercise price Number exercisable at Dec. 31, 2015 Weighted-average exercise price $ 11.40 $ 17.35 257,395 0.8 $ 13.14 257,395 $ 13.14 As of December 31, 2015 , the aggregate intrinsic value of outstanding and exercisable options was $1.6 million . Certain officers, employees and non-employee directors of former subsidiary QEP Resources held 64,093 Questar stock options with a weighted-average exercise price of $12.16 per share and a weighted-average remaining life of 7 months at December 31, 2015 . Restricted Shares Restricted shares are valued at the grant-date market price and amortized to expense over the vesting period. Most restricted share grants vest in equal installments over a three -year period from the grant date. Unvested restricted shares have voting and dividend rights; however, sale or transfer is restricted. The weighted-average remaining vesting period of unvested restricted shares at December 31, 2015 , was 2 months . No restricted shares have been granted since 2013 and no restricted shares were forfeited in 2015 . Transactions involving restricted shares under the terms of the LTSIP for the year ended December 31, 2015 , are summarized below: Restricted Shares Outstanding Price Range Weighted- Average Price Balance at December 31, 2014 102,354 $ 19.39 - $ 21.53 $ 19.41 Vested (102,135 ) 19.39 - 21.53 19.40 Balance at December 31, 2015 219 $ 21.53 - $ 21.53 $ 21.53 Restricted Stock Units Questar may grant RSUs to certain of its officers, employees and non-employee directors under the LTSIP. RSUs are valued at the grant-date market price and amortized to expense over the vesting period. RSU grants typically vest in equal installments over a three -year period from the grant date. Certain grants vest in a single installment after a specified period. RSUs do not have voting rights until shares are distributed, but they do have dividend equivalent rights. Most RSU dividend equivalents are paid in cash quarterly and vest immediately. One share of Questar common stock will be distributed for each RSU at the time of vesting. The weighted-average remaining vesting period of unvested RSUs at December 31, 2015 , was 10 months . Transactions involving RSUs under the terms of the LTSIP for the year ended December 31, 2015 , are summarized below: RSUs Outstanding Price Range Weighted-Average Price Balance at December 31, 2014 526,102 $ 22.14 - $ 24.70 $ 23.60 Granted 351,282 23.70 - 25.07 24.38 Vested (294,515 ) 22.14 - 25.07 23.68 Forfeited (32,467 ) 22.17 - 24.41 24.32 Balance at December 31, 2015 550,402 $ 22.52 - $ 25.07 $ 24.01 Questar may grant RSUs with deferred share distributions (deferred RSUs) to certain of its non-employee directors under the LTSIP. Grants of deferred RSUs typically vest in a single installment over a one -year period from the grant date. Dividend equivalents on deferred RSUs accrue quarterly and are subject to the vesting, distribution and voting conditions of the underlying award. One share of Questar common stock will be distributed for each vested deferred RSU (including accrued reinvested dividend equivalents). At December 31, 2015 , Questar's outstanding deferred RSUs totaled 47,325 with a weighted-average price of $23.91 per share. The weighted-average remaining vesting period of unvested deferred RSUs at December 31, 2015 , was 2 months . Performance Shares Questar may grant performance shares to certain of its officers under the terms of the LTSIP. The awards are designed to motivate and reward these officers for long-term Company performance and provide an incentive for them to remain with the Company. The target number of performance shares for each officer is subject to a payout adjustment multiplier ranging from 0.00 to 3.00 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 officer was employed by the Company or its affiliates as of the last day of the performance period. The Company uses the Monte Carlo simulation method to estimate the grant-date fair value of performance share awards. Fair value estimates rely upon subjective assumptions used in the mathematical model and may not be representative of future results. The estimated fair value of performance shares granted and major assumptions used in the simulation at the date of grant are listed below: 2015 2014 2013 Performance Share Input Variables Fair value of performance shares at grant date $ 21.03 $ 31.07 $ 39.62 Risk-free interest rate 0.95 % 0.67 % 0.40 % Expected price volatility 16.1 % 18.6 % 19.0 % Expected dividend yield 3.11 % 3.05 % 2.88 % Expected life in years 2.9 2.9 2.9 For performance shares granted in 2013, half of any award will be distributed in shares of Questar common stock and half in cash. Subsequent awards will be distributed in shares, with no cash component. For share-settled performance share awards, the grant-date fair value of the awards is amortized to expense over the vesting period. 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 $2.8 million in 2015 , $3.8 million in 2014 and $2.0 million in 2013 . The weighted-average remaining vesting period of unvested performance shares at December 31, 2015 , was 19 months . Transactions involving performance shares under the terms of the LTSIP for the year ended December 31, 2015 , are summarized below: Target Number of Performance Shares Outstanding Grant-Date Fair Value Range Weighted-Average Grant-Date Fair Value Balance at December 31, 2014 391,249 $ 25.42 - $ 39.62 $ 31.78 Granted 160,302 19.03 - 21.03 20.82 Distributed (1) (134,778 ) 25.42 25.42 25.42 Forfeited (73,025 ) 21.03 - 39.62 26.11 Balance at December 31, 2015 (2),(3) 343,748 $ 19.03 - $ 39.62 $ 30.37 (1) Actual shares and cash distributed were determined by multiplying the target shares by 1.00 to reflect Questar's final total shareholder return ranking relative to the specified peer companies for the performance period from January 1, 2012 through December 31, 2014 . The total amount paid for the cash half of the distribution was $1.7 million . (2) The total undistributed balance consists of 286,211 of share-settled target shares and 57,537 of cash-settled target shares. (3) The total undistributed balance includes 115,074 vested target shares that are expected to be distributed in the first quarter of 2016 using a payout adjustment multiplier of 0.32 . The multiplier reflects Questar's final total shareholder return ranking relative to the specified peer companies for the performance period from January 1, 2013 through December 31, 2015 . The distribution will be half in shares, half in cash. These target shares are included in the amounts described in note (2), immediately above. As of December 31, 2015 , the total unrecognized compensation cost related to outstanding stock options, restricted shares, RSUs and performance shares was $5.4 million , which the Company expects to recognize over a weighted-average period of 12 months . Questar Gas and Questar Pipeline Questar may issue stock options, restricted shares, RSUs and performance shares to certain officers and employees of Questar Gas and Questar Pipeline under the LTSIP. Questar Gas and Questar Pipeline recognize expense over time as the stock options, restricted shares, RSUs and performance shares vest. Questar Gas share-based compensation expense amounted to $1.4 million in 2015 and 2013 compared with $1.6 million in 2014 . Questar Pipeline share-based compensation expense amounted to $2.0 million in 2015 and 2013 compared with $2.1 million in 2014 . The following table summarizes the stock options held under the LTSIP by Questar Pipeline officers and employees at December 31, 2015 . There were no stock options held under the LTSIP by Questar Gas officers or employees at December 31, 2015 . Options Outstanding Options Exercisable Range of exercise prices Number outstanding at Dec. 31, 2015 Weighted-average remaining term in years Weighted-average exercise price Number exercisable at Dec. 31, 2015 Weighted-average exercise price Questar Pipeline $ 11.40 - $ 13.10 47,995 0.5 $ 11.98 47,995 $ 11.98 There were no restricted shares held under the LTSIP by Questar Gas and Questar Pipeline officers and employees at December 31, 2015 . The following table summarizes the RSUs held under the LTSIP by Questar Gas and Questar Pipeline officers and employees at December 31, 2015 . The weighted-average remaining vesting periods of unvested RSUs at December 31, 2015 , for Questar Gas and Questar Pipeline were 10 months and 11 months , respectively. RSUs Outstanding Price Range Weighted-Average Price Questar Gas 97,209 $ 23.09 - $ 24.41 $ 24.01 Questar Pipeline 126,744 $ 23.09 - $ 24.41 $ 23.95 The following table summarizes the target number of performance shares held under the LTSIP by Questar Gas and Questar Pipeline officers at December 31, 2015 . The weighted-average remaining vesting periods of unvested performance shares at December 31, 2015 , for Questar Gas and Questar Pipeline were 18 months and 23 months . Target Number of Performance Shares Outstanding Grant-Date Fair Value Range Weighted-Average Grant-Date Fair Value Questar Gas 33,578 $ 21.03 - $ 39.62 $ 30.23 Questar Pipeline 47,454 $ 19.03 - $ 39.62 $ 28.43 |
Employee Benefits (Notes)
Employee Benefits (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Employee Benefits | Employee Benefits Defined Benefit Pension Plans and Other Postretirement 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 coverage once they retire. Questar funds a trust for Employee Retirement Income Security Act (ERISA)-qualified pension and other postretirement benefit obligations to pay benefits currently due and to build asset balances over time to pay future obligations. Questar is subject to and complies with minimum-required and maximum-allowed annual contribution levels mandated by ERISA and by the Internal Revenue Code. Subject to these limitations, the Company seeks to fund the qualified pension plan in amounts that are at a minimum equal to the yearly net cost. The Company commingles postretirement medical plan assets with those of the ERISA-qualified pension plan as permitted by section 401(h) of the Internal Revenue Code. The qualified pension plan has settled benefits for some terminated vested employees and is offering lump-sum benefits to retiring employees starting January 1, 2015. Due to the number of employees that elected the lump-sum benefit, the Company incurred a one-time $16.7 million pre-tax noncash qualified pension settlement accounting cost in the the fourth quarter of 2015 . The Company also has a nonqualified pension plan that covers a group of management employees in addition to the 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 IRS for the qualified plan. The nonqualified pension plan is unfunded; benefits are paid from the Company's general funds. The Company's Employee Benefits Committee (EBC) has oversight over investment of qualified pension and other postretirement benefit plan assets. The EBC uses a third-party consultant to assist in setting targeted policy ranges for the allocation of assets among various investment categories. The EBC allocates qualified pension, postretirement medical and postretirement life plan assets among broad asset categories and reviews the asset allocation at least annually. Asset allocation decisions consider risk and return, future benefit requirements, participant growth and other expected cash flows. The EBC seeks investment returns consistent with reasonable and prudent levels of liquidity and risk. The EBC uses asset-mix guidelines that include permissible ranges for each asset category, return objectives for each asset group and the desired level of diversification and liquidity. These guidelines change from time to time based on the EBC's ongoing evaluation of each plan's risk tolerance. The EBC estimates an expected overall long-term rate of return on assets by weighting expected returns of each asset class by its targeted asset allocation percentage. Expected return estimates are developed from analysis of past performance and forecasts of long-term return expectations by third parties. Qualified pension and other postretirement benefit plan assets were invested as follows: Actual Allocation Policy Range December 31, December 31, 2015 2014 2015 2014 Total domestic equity securities 36 % 38 % 35 % - 45 % 35 % - 45 % Foreign equity securities Developed market foreign equity securities 20 % 18 % Emerging market foreign equity securities 4 % 4 % Total foreign securities 24 % 22 % 25 % - 35 % 25 % - 35 % Debt securities Investment-grade intermediate-term debt 5 % 7 % Investment-grade long-term debt 15 % 14 % Below-investment-grade debt 10 % 9 % Total debt securities 30 % 30 % 25 % - 35 % 25 % - 35 % Inflation protection securities 10 % 9 % — % - 10 % — % - 10 % Cash and short-term investments — % 1 % — % - 3 % — % - 3 % At December 31, 2015 , domestic equity assets were invested in a passive total stock market index fund that invests in a diversified portfolio of stocks representative of the whole U.S. stock market and an S&P 500 index fund. Developed market foreign equity assets were invested in funds that hold a diversified portfolio of common stocks of corporations in developed countries outside the United States. These investments are benchmarked against the Morgan Stanley Capital International Europe Australasia and Far East (MSCI EAFE) index. Emerging market foreign equity assets are invested in funds that hold a diversified portfolio of common stocks of corporations in emerging countries outside the United States and are benchmarked against the MSCI Emerging Markets index. Investment-grade intermediate-term debt assets are invested in funds holding a diversified portfolio of debt of governments, corporations and mortgage borrowers with average maturities of 5 to 10 years and investment-grade credit ratings. The investments are benchmarked against the Barclays Capital Aggregate Bond index. Investment-grade long-term debt assets are invested in a diversified portfolio of debt of governments, corporations and mortgage borrowers with an average maturity of more than 10 years and investment-grade credit ratings. These assets are benchmarked against the Barclays Capital Government/Credit Bond index. Below-investment-grade debt assets are invested in a fund holding a diversified portfolio of debt securities of corporations with an average maturity up to 10 years and below-investment-grade credit ratings. This investment is benchmarked against the Merrill Lynch High Yield II Total Return Bond index. To mitigate the impact of inflation, assets are allocated to inflation protection funds. These funds invest in indices that comprise the Dow Jones U.S. Select REIT, Dow Jones-UBS Commodity Total Return, S&P Global LargeMidCap Commodity and Resources, and Barclays Capital U.S. Treasury Inflation Protected Securities. Cash and short-term investments are held in a fund that purchases investment-grade short-term debt issued by governments and corporations. Responsibility for individual security selection rests with each investment manager, who is subject to guidelines specified by the EBC. These guidelines are designed to ensure consistency with overall plan objectives. The EBC sets performance objectives for each investment manager that are expected to be met over a three -year period or a complete market cycle, whichever is shorter. Performance and risk levels are regularly monitored to confirm policy compliance and that results are within expectations. Employee benefit plan regulations prohibit transactions between a fiduciary and parties-in-interest unless specifically provided for in ERISA. No restricted securities, such as letter stock or private placements, may be purchased for any investment fund. Questar securities may be considered for purchase at an investment manager's discretion, but within limitations prescribed by ERISA and other laws. There was no direct investment in Questar shares for the periods disclosed. Use of derivative securities by any investment manager is prohibited except where the EBC has given specific approval or where commingled funds are utilized that have previously adopted permitting guidelines. Fair value accounting standards establish a framework for defining, measuring and disclosing fair value in applying GAAP. The standards establish a fair value hierarchy with Levels 1, 2 and 3 ranging from the most observable to the least observable valuation inputs. Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities 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 following is a description of the valuation methodologies used at December 31, 2015 and 2014 , to value qualified pension and other postretirement benefit plan assets. The Company's pension and other postretirement benefit plan assets did not include any investments measured using Level 3 inputs at December 31, 2015 or 2014 . Corporate bonds and U.S. government securities: Corporate bonds and United States government corporation and agency securities are valued at the closing price reported on the markets on which the individual securities are traded, which in general are less active than the markets for common stocks and registered investment companies. Registered investment companies: Registered investment companies, also known as mutual funds, are valued at the closing price reported on the active markets on which the individual funds are traded. Commingled funds and 103-12 investment entity: These are investment vehicles generally restricted to institutional investors and are valued using the net asset value (NAV) of the fund. The NAV is based on the value of the underlying assets owned by the fund excluding transaction costs, and minus liabilities. The underlying assets are valued at the closing prices reported on the markets on which they are traded. No assets that were valued using a NAV methodology were subject to significant redemption restrictions or unfunded commitments on their valuation dates. The following tables set forth, by level within the fair value hierarchy, qualified pension and other postretirement benefit plan assets at fair value as of December 31, 2015 and 2014 : December 31, 2015 Level 1 Level 2 Total (in millions) Corporate bonds $ — $ 14.1 $ 14.1 Registered investment companies: Fixed income funds 88.9 — 88.9 Inflation protection fund 35.6 — 35.6 Domestic equity fund 0.6 — 0.6 Commingled funds* 519.0 Foreign equity growth 103-12 investment entity* 47.0 Total $ 125.1 $ 14.1 $ 705.2 December 31, 2014 Level 1 Level 2 Total (in millions) Corporate bonds $ — $ 1.5 $ 1.5 U.S. government securities — 12.9 12.9 Registered investment companies: Fixed income funds 114.9 — 114.9 Inflation protection fund 34.5 — 34.5 Domestic equity fund 1.6 — 1.6 Commingled funds* 525.6 Foreign equity growth 103-12 investment entity* 46.2 Total $ 151.0 $ 14.4 $ 737.2 *In accordance with Accounting Standard Update 2015-12 (Subtopic 820-10), certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented on the Company's statement of financial position. Pension plan benefits are based on the employee's age at retirement, years of service and highest average annual earnings during 72 consecutive semimonthly pay periods in the last 10 years of employment. Employees retiring on or after January 1, 2015 may elect either a lump-sum or an annuity benefit. Postretirement health-care and life insurance benefits are provided only to employees hired before January 1, 1997. The Company pays a portion of the costs of health-care benefits determined by an employee's years of service and generally limited to 170% of the 1992 contribution for employees who retired after January 1, 1993. The qualified pension projected benefit obligation was measured using the following assumptions at December 31: 2015 2014 Discount rate 4.50 % 4.10 % Rate of increase in compensation 5.50 5.50 Long-term return on assets 7.00 7.00 The nonqualified pension projected benefit obligation was measured using the following assumptions at December 31: 2015 2014 Discount rate 3.10 % 2.90 % Rate of increase in compensation 5.50 5.50 The postretirement accumulated benefit obligation was measured using the following assumptions at December 31: 2015 2014 Discount rate 4.30 % 4.00 % Long-term return on assets 7.00 7.00 Health-care inflation rate 7.00 7.50 decreasing to decreasing to 4.50 % by 2021 4.50 % by 2021 Questar does not expect any plan assets to be returned during 2016 . The qualified and nonqualified pension plan accumulated benefit obligation totaled $646.6 million at December 31, 2015 . Plan obligations and fair value of all plan assets are shown in the following table: Pension Other Postretirement Benefits Year Ended December 31, Year Ended December 31, 2015 2014 2015 2014 (in millions) Change in benefit obligation Benefit obligation at beginning of year $ 834.0 $ 702.7 $ 90.8 $ 86.3 Service cost 13.8 11.8 0.6 0.6 Interest cost 32.7 33.4 3.5 3.8 Plan and assumption changes (53.7 ) 109.1 (4.4 ) 4.9 Actuarial (gain) loss 7.0 (0.7 ) (1.6 ) (3.0 ) Benefits paid (73.8 ) (22.3 ) (2.9 ) (1.8 ) Benefit obligation at end of year 760.0 834.0 86.0 90.8 Change in plan assets Fair value of plan assets at beginning of year 690.2 628.2 47.0 43.8 Actual gain (loss) on plan assets (15.0 ) 40.4 (0.9 ) 2.9 Company contributions to the plan 71.8 43.9 0.9 2.1 Benefits paid (73.8 ) (22.3 ) (2.9 ) (1.8 ) Fair value of plan assets at end of year 673.2 690.2 44.1 47.0 Underfunded status (current and long-term) $ (86.8 ) $ (143.8 ) $ (41.9 ) $ (43.8 ) The projected 2016 qualified pension plan funding is $18.1 million . Estimated benefit plan payments for the five years following 2015 and the subsequent five years aggregated are as follows: Pension Other Postretirement Benefits Years Ending December 31, (in millions) 2016 $ 50.5 $ 4.5 2017 50.1 4.5 2018 63.6 4.7 2019 52.9 4.8 2020 52.8 5.0 2021 through 2025 264.1 25.9 The components of the net pension and other postretirement benefit costs are as follows. The net pension cost includes both the qualified and nonqualified pension plans. Pension Other Postretirement Benefits Year Ended December 31, Year Ended December 31, 2015 2014 2013 2015 2014 2013 (in millions) Service cost $ 13.8 $ 11.8 $ 13.9 $ 0.6 $ 0.6 $ 0.7 Interest cost 32.7 33.4 30.6 3.5 3.8 3.7 Expected return on plan assets (47.7 ) (43.6 ) (38.1 ) (3.2 ) (3.0 ) (2.6 ) Prior service and other costs 0.1 0.6 1.1 — — — Recognized net actuarial loss 21.9 15.4 28.9 1.2 0.7 3.0 Pension settlement costs 16.7 — — — — — Accretion of regulatory liability — — — 1.0 0.8 0.5 Net periodic cost $ 37.5 $ 17.6 $ 36.4 $ 3.1 $ 2.9 $ 5.3 Assumptions at January 1 , used to calculate the qualified net pension cost for the years, were as follows: 2015 2014 2013 Discount rate 4.10 % 4.90 % 4.20 % Rate of increase in compensation 5.50 5.50 5.50 Long-term return on assets 7.00 7.25 7.25 Assumptions at January 1 , used to calculate the nonqualified net pension cost for the years, were as follows: 2015 2014 2013 Discount rate 2.90 % 3.30 % 2.40 % Rate of increase in compensation 5.50 5.50 5.50 Assumptions at January 1 , used to calculate the net postretirement benefit cost for the years, were as follows: 2015 2014 2013 Discount rate 4.00 % 4.70 % 4.00 % Long-term return on assets 7.00 7.25 7.25 Health-care inflation rate 7.50 8.00 8.50 decreasing to decreasing to decreasing to 4.50 % by 2021 4.50 % by 2021 4.50 % by 2021 The 2016 estimated qualified and nonqualified net pension cost is $11.2 million . In 2016 , $15.1 million of estimated net actuarial loss for the pension plans will be amortized from AOCI. The 2016 estimated net postretirement benefit cost is $2.1 million , excluding accretion of a regulatory liability. In 2016 , $0.9 million of estimated net actuarial loss and $0.1 million of prior service cost for the postretirement benefit plans will be amortized from AOCI. Postretirement benefit service and interest costs are sensitive to changes in the health-care inflation rate. A 1% increase in the health-care inflation rate would cause a minimal increase in the yearly service and interest costs and would increase the postretirement accumulated benefit obligation by $0.5 million . A 1% decrease in the health-care inflation rate would cause a minimal decrease in the yearly service and interest costs and would decrease the postretirement accumulated benefit obligation by $0.5 million . Amortization of the net gain or loss resulting from experience different from that assumed and from changes in assumptions is included as a component of net periodic benefit cost. If, as of the beginning of the year, that net gain or loss exceeds 10% of the greater of the projected benefit obligation and the market-related value of plan assets, the amortization is that excess divided by the average remaining service period of participating employees expected to receive benefits under the plan. Under this methodology, the gain/loss amounts recognized in AOCI are not expected to be fully recognized in benefit cost until the plan is terminated (or an earlier event, like a settlement, triggers recognition) because the average expected remaining service of active participants expected to benefit under the plan over which the amounts are amortized is redetermined each year and amounts that fall within the corridor described above are not amortized. Questar Gas and Questar Pipeline participate in Questar's qualified and nonqualified pension plans as well as its postretirement medical and life plans. Questar Gas's and Questar Pipeline's pension plan and postretirement medical and life insurance plan assets and benefit obligations cannot be separately determined because plan assets are not segregated or restricted to meet the companies' pension and postretirement medical and life obligations. If the companies were to withdraw from the plans, the pension and other postretirement obligations for Questar Gas and Questar Pipeline employees would be retained by the Questar plans. The 2015 pension settlement accounting costs were not allocated to Questar Gas or Questar Pipeline. Pension and other postretirement benefit net cost and plan contribution information for Questar Gas and Questar Pipeline are shown below: Pension Other Postretirement Benefits Year Ended December 31, Year Ended December 31, 2015 2014 2013 2015 2014 2013 (in millions) Questar Gas Net periodic cost $ 10.4 $ 8.5 $ 18.1 $ 0.9 $ 0.8 $ 2.4 Share of total plan contributions 34.9 21.8 29.6 0.5 1.1 2.0 Questar Pipeline Net periodic cost $ 3.8 $ 3.2 $ 6.7 $ (0.3 ) $ (0.4 ) $ 0.2 Share of total plan contributions 13.4 8.1 11.2 0.1 0.4 0.7 401(k) Retirement Income Plan The 401(k) Retirement Income Plan (401(k) Plan), formerly known as the Employee Investment Plan, is a defined contribution pension plan that allows eligible employees to purchase shares of Questar common stock or other investments through payroll deduction at the fair market value on the transaction date. The Company contributes an overall match of 100% of employees' purchases up to a maximum of 6% of their qualifying earnings. Starting in January 2015, qualified employees who are not eligible for the defined benefit pension plans receive an additional non-matching employer contribution to their 401(k) Plan accounts equal to 4% of their qualifying prior year earnings. To satisfy employee purchases of Questar stock, the 401(k) Plan trustee may purchase Questar shares on the open market with cash received or Questar may issue new shares. Questar, Questar Gas and Questar Pipeline recognize expense equal to 401(k) Plan employer matching and non-matching contributions earned by employees during the year. Questar's expense amounted to $9.8 million in 2015 , $9.1 million in 2014 , and $7.2 million in 2013 . Questar Gas's 401(k) Plan expense was $4.5 million in 2015 and 2014 and $3.4 million in 2013 . Questar Pipeline's 401(k) Plan expense was $1.8 million in 2015 and 2014 and $1.4 million in 2013 . |
Operations by Line of Business
Operations by Line of Business (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Operations by Line of Business | 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 for Questar Gas customers; and Questar Pipeline, which operates interstate natural gas pipelines and storage facilities and provides other energy services. 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. The following is a summary of operations by line of business for the three years ended December 31, 2015 : Questar Consol. Interco. Trans. Questar Gas Wexpro Questar Pipeline Corp and Other (in millions) 2015 Revenues From unaffiliated customers $ 1,134.9 $ — $ 917.6 $ 22.9 $ 187.9 $ 6.5 From affiliated companies — (394.2 ) — 319.1 75.1 — Total Revenues 1,134.9 (394.2 ) 917.6 342.0 263.0 6.5 Operating Expenses Cost of sales 175.2 (393.5 ) 558.1 — 8.9 1.7 Operating and maintenance 181.6 — 111.9 29.6 37.6 2.5 General and administrative 109.0 (0.7 ) 50.6 33.5 38.9 (13.3 ) Pension settlement costs 16.7 — — — — 16.7 Production and other taxes 51.3 — 19.3 21.2 8.8 2.0 Depreciation, depletion and amortization 216.0 — 55.1 99.4 54.6 6.9 Abandonment and impairment 12.5 — — 12.5 — — Total Operating Expenses 762.3 (394.2 ) 795.0 196.2 148.8 16.5 Net gain from asset sales 1.8 — — 1.6 0.2 — Operating Income (Loss) 374.4 — 122.6 147.4 114.4 (10.0 ) Interest and other income (expense) 4.2 (1.0 ) 4.8 0.9 0.9 (1.4 ) Income from unconsolidated affiliate 3.7 — — — 3.7 — Interest expense (63.0 ) 1.0 (28.3 ) (0.2 ) (26.0 ) (9.5 ) Income taxes (110.6 ) — (34.8 ) (49.2 ) (33.4 ) 6.8 Net Income (Loss) $ 208.7 $ — $ 64.3 $ 98.9 $ 59.6 $ (14.1 ) Identifiable assets 4,377.8 — 2,126.8 920.6 1,227.3 103.1 Goodwill 9.8 — 5.6 — 4.2 — Investment in unconsolidated affiliate 23.9 — — — 23.9 Cash capital expenditures, including acquisitions 330.4 — 228.8 46.4 40.6 14.6 Accrued capital expenditures, including acquisitions 328.0 — 232.6 42.9 39.5 13.0 2014 Revenues From unaffiliated customers $ 1,189.3 $ — $ 960.9 $ 35.6 $ 190.2 $ 2.6 From affiliated companies — (424.0 ) — 350.3 73.7 — Total Revenues 1,189.3 (424.0 ) 960.9 385.9 263.9 2.6 Operating Expenses Cost of sales 186.3 (423.4 ) 604.8 — 4.0 0.9 Operating and maintenance 194.2 — 122.5 31.5 39.3 0.9 General and administrative 122.7 (0.6 ) 52.8 32.6 38.9 (1.0 ) Production and other taxes 66.2 — 17.8 37.6 9.1 1.7 Depreciation, depletion and amortization 213.7 — 53.6 100.5 54.5 5.1 Asset impairment 2.0 — — 2.0 — — Total Operating Expenses 785.1 (424.0 ) 851.5 204.2 145.8 7.6 Net gain (loss) from asset sales 1.2 — 0.1 1.6 (0.5 ) — Operating Income (Loss) 405.4 — 109.5 183.3 117.6 (5.0 ) Interest and other income (expense) 6.6 (0.4 ) 5.9 1.1 1.2 (1.2 ) Income from unconsolidated affiliate 3.5 — — — 3.5 — Interest expense (63.1 ) 0.4 (28.2 ) (0.1 ) (26.1 ) (9.1 ) Income taxes (125.9 ) — (32.0 ) (61.5 ) (35.6 ) 3.2 Net Income (Loss) $ 226.5 $ — $ 55.2 $ 122.8 $ 60.6 $ (12.1 ) Identifiable assets $ 4,243.9 $ — $ 1,917.4 $ 970.6 $ 1,230.5 $ 125.4 Goodwill 9.8 — 5.6 — 4.2 — Investment in unconsolidated affiliate 24.7 — — — 24.7 — Cash capital expenditures, including acquisitions 371.5 — 174.7 114.4 59.4 23.0 Accrued capital expenditures, including acquisitions 359.7 — 161.5 114.7 61.3 22.2 2013 Revenues From unaffiliated customers $ 1,220.0 $ — $ 985.2 $ 45.1 $ 189.5 $ 0.2 From affiliated companies — (372.1 ) 0.6 294.8 76.7 — Total Revenues 1,220.0 (372.1 ) 985.8 339.9 266.2 0.2 Operating Expenses Cost of sales 285.9 (370.9 ) 650.6 — 6.1 0.1 Operating and maintenance 179.4 — 113.1 28.6 37.6 0.1 General and administrative 115.9 (0.6 ) 52.5 28.7 41.6 (6.3 ) Production and other taxes 57.4 — 18.0 28.3 9.3 1.8 Depreciation, depletion and amortization 194.8 — 49.7 85.8 55.5 3.8 Asset impairment 80.6 — — — 80.6 — Other operating expenses — (0.6 ) — 0.6 — — Total Operating Expenses 914.0 (372.1 ) 883.9 172.0 230.7 (0.5 ) Net loss from asset sales (0.2 ) — — (0.2 ) — — Operating Income 305.8 — 101.9 167.7 35.5 0.7 Interest and other income (expense) 9.9 (0.7 ) 5.1 5.0 1.8 (1.3 ) Income from unconsolidated affiliate 3.7 — — — 3.7 — Interest expense (56.9 ) 0.7 (22.3 ) (0.1 ) (25.8 ) (9.4 ) Income taxes (101.3 ) — (31.9 ) (62.0 ) (7.0 ) (0.4 ) Net Income (Loss) $ 161.2 $ — $ 52.8 $ 110.6 $ 8.2 $ (10.4 ) Identifiable assets $ 4,044.6 $ — $ 1,759.1 $ 988.3 $ 1,221.0 $ 76.2 Goodwill 9.8 — 5.6 — 4.2 — Investment in unconsolidated affiliate 25.6 — — — 25.6 — Cash capital expenditures 503.7 — 166.2 249.5 73.4 14.6 Accrued capital expenditures 505.6 — 177.3 240.7 70.0 17.6 |
Related-Party Transaction (Note
Related-Party Transaction (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Related-Party Transactions | Related-Party Transactions Questar Gas In 2015 , 2014 and 2013 Questar Gas provided technical services to affiliates. Questar Gas provided these services at its cost and charged $6.7 million in 2015 , $6.1 million in 2014 and $6.7 million in 2013 . The majority of these costs are allocated. The allocation methods are based on the specific nature of the charges. Management believes that the allocation methods are reasonable. Questar Gas has reserved transportation capacity on Questar Pipeline's system for 916 Mdth per day during the heating season and 841 Mdth per day during off-peak months. Questar Gas periodically releases excess capacity and receives a credit from Questar Pipeline for the released capacity revenues and a portion of Questar Pipeline's interruptible transportation revenues. Questar Gas paid for transportation, storage and processing services provided by Questar Pipeline and a subsidiary amounting to $73.0 million in 2015 , $72.9 million in 2014 and $73.0 million in 2013 , which included demand charges. The costs of these services were included in the cost of natural gas sold. Under the terms of the Wexpro agreements, Questar Gas receives a portion of Wexpro's income from oil and NGL operations after recovery of Wexpro's operating expenses and a return on investment. This amount, which is included in revenues and reduces amounts billed to gas distribution customers, was $0.6 million in 2013 . There was no such revenue in 2014 or 2015 . The amounts that Questar Gas paid Wexpro for the operation of cost-of-service gas properties were $319.0 million in 2015 , $349.7 million in 2014 and $294.6 million in 2013 . Questar Gas reports these amounts in the cost of natural gas sold. Questar charged Questar Gas for certain administrative functions amounting to $52.9 million in 2015 , $47.8 million in 2014 and $48.4 million in 2013 . These costs are included in operating expenses and are generally allocated based on each affiliated company's proportional share of revenues less product costs; property, plant and equipment; and labor costs. Management believes that the allocation method is reasonable. Questar Pipeline charged Questar Gas for communication services amounting to $2.8 million in 2015 and $3.7 million in 2014 and 2013 . These costs are included in operating expenses and are allocated based on usage. Questar Gas borrowed cash from Questar and incurred interest expense of $0.4 million in 2015 , $0.1 million in 2014 and $0.5 million in 2013 . Questar Pipeline Questar Pipeline receives a substantial portion of its revenues from Questar Gas. Total revenues received from Questar Gas were $74.7 million in 2015 , $73.3 million in 2014 and $76.3 million in 2013 . Questar Pipeline provides communication services to affiliates. Questar Pipeline provided these services at its cost and charged $4.0 million in 2015 , $5.0 million in 2014 and $4.9 million in 2013 . The majority of these costs are allocated based on usage. Questar Gas provides technical services to Questar Pipeline. Questar Gas provided these services at its cost of $3.6 million in 2015 , $3.8 million in 2014 and $3.5 million in 2013 . The majority of these costs are allocated and included in operating expenses. The allocation methods are based on the specific nature of the charges. Management believes that the allocation methods are reasonable. Questar charged Questar Pipeline for certain administrative functions amounting to $27.1 million in 2015 , $25.8 million in 2014 and $28.2 million in 2013 . These costs are included in operating expenses and are generally allocated based on each affiliates' proportional share of revenues less product costs, property, plant and equipment, and labor costs. Management believes that the allocation method is reasonable. Questar Pipeline loaned excess funds to Questar and earned interest income of $0.1 million in 2015 , $0.1 million in 2014 and $0.2 million in 2013 . |
Asset Impairments (Notes)
Asset Impairments (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment Impairment or Disposal [Abstract] | |
Asset Impairments | Asset Impairments During the fourth quarter of 2015, Wexpro recorded a pre-tax abandonment and impairment charge of $12.1 million for the South Moxa leasehold because current market prices do not support a drilling program. During the second quarter of 2014, Wexpro recorded a pre-tax abandonment and impairment charge of $2.0 million for its share of the remaining investment in the Brady field. Wexpro concluded that the field had reached the end of its productive life because it was no longer economical to produce natural gas and oil. In the second quarter of 2015, Wexpro sold its share of the Brady field and recognized a gain of $1.4 million . During the third quarter of 2013, Questar Pipeline updated its five-year forecast for the eastern segment of 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 did not cover these increasing operating expenses. Because of changes in expected cash flows in the third quarter of 2013 and the lack of progress in selling or recontracting this pipeline, 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 Pipeline used a probability-weighted discounted cash flow analysis that included significant inputs such as Questar Pipeline's cost of capital and assumptions regarding future transportation rates and operating costs. |
Acquisitions (Notes)
Acquisitions (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Business Combinations [Abstract] | |
Wexpro Acquisition of Producing Properties | Proposed Merger with Dominion Resources On January 31, 2016 , Questar Corporation, a Utah corporation, entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among the Company, Dominion Resources, Inc., a Virginia corporation (“Parent”) and Diamond Beehive Corp., a Utah corporation and a direct wholly-owned subsidiary of Parent (“Merger Sub”). The Merger Agreement provides for the merger of Merger Sub with and into the Company on the terms and subject to the conditions set forth in the Merger Agreement (the “Merger”), with the Company continuing as the surviving corporation in the Merger and becoming a direct, wholly-owned subsidiary of Parent. At the effective time of the Merger (the “Effective Time”), by virtue of the Merger and without any action on the part of the Company, Parent or Merger Sub or any holder of any shares of common stock, no par value per share, of the Company (the “Company Common Stock”) or any shares of capital stock of Merger Sub, each share of the Company Common Stock issued and outstanding immediately prior to the Effective Time (other than Dissenting Shares and shares of Company Common Stock that are owned by Parent or Merger Sub or any of their respective subsidiaries, in each case immediately prior to the Effective Time) will be converted automatically into the right to receive $25.00 in cash, without interest. Closing of the Merger is subject to the satisfaction or waiver of specified closing conditions, including (i) the approval of the Merger by the holders of a majority of the outstanding shares of Company Common Stock, (ii) the receipt of regulatory approvals required to close the Merger, including approvals from the Public Service Commission of Utah (if required) and the Public Service Commission of Wyoming, (iii) the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, (iv) the absence of any law, statute, ordinance, code, rule, regulation, ruling, decree, judgment, injunction or order of a governmental authority that prohibits the consummation of the Merger, and (v) other customary closing conditions, including (a) the accuracy of each party’s representations and warranties (subject to customary materiality qualifiers), (b) each party’s compliance in all material respects with its obligations and covenants contained in the Merger Agreement, and (c) the absence of a material adverse effect on the Company. In addition, the obligations of Parent and Merger Sub to consummate the Merger are subject to the required regulatory approvals not imposing or requiring any undertakings, terms, conditions, liabilities, obligations, commitments or sanctions, or any structural or remedial actions that constitute a Company Material Adverse Effect. The Merger Agreement also contains customary representations, warranties and covenants of both the Company and Parent. These covenants include, among others, an obligation on behalf of the Company to use reasonable best efforts to conduct its business in all material respects in the ordinary course until the Merger is consummated, subject to certain exceptions. The Company has made certain additional customary covenants, including, among others, subject to certain exceptions, (a) causing a meeting of the Company’s shareholders to be held to consider approval of the Merger Agreement, and (b) a customary non-solicitation covenant prohibiting the Company from soliciting, providing non-public information or entering into discussions or negotiations concerning proposals relating to alternative business combination transactions, except as permitted under the Merger Agreement. In addition, the parties are required to use reasonable best efforts to obtain any required regulatory approvals. The Merger Agreement may be terminated by each of the Company and Parent under certain circumstances, including if the Merger is not consummated by February 28, 2017 (subject to certain extension rights, up to a maximum of nine months , as specified in the Merger Agreement). The Merger Agreement contains certain termination rights for both Parent and the Company, and provides that, upon termination of the Merger Agreement under specified circumstances, Parent would be required to pay a termination fee of $154 million to the Company (the “Parent Termination Fee”) and the Company would be required to pay Parent a termination fee of $99 million (the “Company Termination Fee”). The Company Termination Fee is payable under certain specified circumstances, including (i) termination of the Merger Agreement by the Company in order to enter into a definitive agreement with respect to certain business combinations, and (ii) termination of the Merger Agreement by Parent following a withdrawal by the Company Board of its recommendation of the Merger Agreement. The Company will also be required to pay Parent the Company Termination Fee in the event the Company signs an alternative transaction within twelve months following the termination of the Merger Agreement under certain specified circumstances. In addition, upon termination of the Merger Agreement in certain specified circumstances, the Company would be required to reimburse Parent for certain expenses incurred by Parent and its affiliates and representatives in connection with transaction, in an amount not to exceed $5 million . The Parent Termination Fee is payable by the Parent in certain specified circumstances if the Merger Agreement is terminated under certain circumstances due to the failure to obtain certain regulatory approvals as a result of the imposition of a Burdensome Condition or the material breach by Parent of its obligations to obtain certain regulatory approvals. Acquisitions In December 2015 , Wexpro acquired working interests in 75 producing wells and 112 future drilling locations in the Vermillion Basin in southwestern Wyoming for $16.0 million . The financial impact of this transaction is not significant therefore, no supplem ental pro forma income information is presented. In March 2015 , Questar Gas purchased Eagle Mountain City's municipal natural gas system for $11.4 million . At the time of acquisition, the city had over 6,500 natural gas customers. The financial impact of this transactions is not significant therefore, no supplemental pro forma income information is presented. In December 2014 , Wexpro acquired an additional interest in natural gas-producing properties in existing Wexpro-operated assets in the Canyon Creek Unit of southwestern Wyoming's Vermillion Basin for about $52.6 million , after post-closing adjustments. This is a "bolt-on" acquisition to the company's current Canyon Creek assets, which are governed by the 1981 Wexpro Agreement. In the fourth quarter of 2015, the Public Service Commission of Utah and the Wyoming Public Service Commission (the Commissions) approved the inclusion of the these properties in the Wexpro II Agreement, effective December 1, 2015. In September 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 (Trail acquisition) for $104.3 million , after post-closing adjustments. This acquisition was an addition to the company’s existing Trail assets, which are governed by the 1981 Wexpro Agreement. In the first quarter of 2014, the Public Service Commission of Utah and the Wyoming Public Service Commission (the Commissions) approved the inclusion of these properties in the Wexpro II Agreement, effective February 1, 2014. |
Quarterly Financial Information
Quarterly Financial Information - Unaudited (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Selected Quarterly Financial Information [Abstract] | |
Quarterly Financial Information (Unaudited) | Quarterly Financial Information (Unaudited) Following is a summary of unaudited quarterly financial information: First Quarter Second Quarter Third Quarter Fourth Quarter Year (in millions, except per-share amounts) 2015 Revenues $ 428.6 $ 199.3 $ 142.3 $ 364.7 $ 1,134.9 Operating income 147.0 75.3 62.3 89.8 374.4 Net income 84.6 40.6 32.6 50.9 208.7 Asset impairment charge, before income taxes — — — 12.1 12.1 Pension settlement costs, before income taxes — — — 16.7 16.7 Basic earnings per common share $ 0.48 $ 0.23 $ 0.18 $ 0.29 $ 1.18 Diluted earnings per common share 0.48 0.23 0.18 0.29 1.18 2014 Revenues $ 456.9 $ 201.3 $ 157.9 $ 373.2 $ 1,189.3 Operating income 148.3 76.5 68.9 111.7 405.4 Net income 85.1 40.3 38.6 62.5 226.5 Basic earnings per common share $ 0.48 $ 0.23 $ 0.22 $ 0.36 $ 1.29 Diluted earnings per common share 0.48 0.23 0.22 0.35 1.29 |
Supplemental Gas and Oil Inform
Supplemental Gas and Oil Information - Unaudited (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Extractive Industries [Abstract] | |
Supplemental Gas and Oil Information (Unaudited) | Supplemental Gas and Oil Information (Unaudited) The Company is making the following supplemental disclosures of gas and oil producing activities, in accordance with accounting standards for extractive activities - oil and gas and SEC Regulation S-X. The Company uses the successful efforts accounting method for its gas and oil properties and all properties are in the United States. The substantial majority of the following information relates to cost-of-service gas and oil properties managed and developed by Wexpro and governed by the Wexpro agreements. In December 2014, Wexpro acquired the Canyon Creek acquisition and in September 2013, Wexpro completed the Trail acquisition. Under the terms of the Wexpro II Agreement, these properties were submitted to the PSCU and PSCW (the Commissions). The Commissions approved the Canyon Creek and the Trail acquisition's in the fourth quarter of 2015 and the first quarter of 2014, respectively. The 2015 and 2014 supplemental gas and oil information includes these acquisitions, as applicable. See Note 18 for additional information on these acquisitions. Capitalized Costs Capitalized costs of gas and oil properties and the related amounts of accumulated depreciation, depletion and amortization are shown below: December 31, 2015 2014 (in millions) Wexpro Proved properties $ 1,649.2 $ 1,675.6 Unproved properties 5.2 12.8 Total Wexpro capitalized costs 1,654.4 1,688.4 Accumulated depreciation, depletion and amortization (789.9 ) (757.3 ) Net Wexpro capitalized costs 864.5 931.1 Net Questar Gas capitalized costs 5.8 6.4 Net capitalized costs $ 870.3 $ 937.5 Costs Incurred The costs incurred for gas and oil development activities are displayed in the table below. The costs incurred to develop proved undeveloped reserves were $22.5 million in 2015 , $28.9 million in 2014 and $106.3 million in 2013 . Year Ended December 31, 2015 2014 2013 (in millions) Property acquisition Unproved $ 4.8 $ 11.9 $ 0.3 Proved 13.8 54.1 106.4 Exploration (capitalized and expensed) 0.7 1.6 — Development 27.7 49.1 133.1 Total costs incurred $ 47.0 $ 116.7 $ 239.8 Results of Operations Following are the results of operations for gas- and oil-producing activities, excluding corporate overhead and interest costs: Year Ended December 31, 2015 2014 2013 (in millions) Revenues From unaffiliated customers $ 22.9 $ 35.6 $ 45.1 From affiliated company (1) 319.1 350.3 294.8 Total revenues 342.0 385.9 339.9 Production costs 50.1 67.5 57.5 Exploration expenses 0.7 1.6 — Depreciation, depletion and amortization 99.4 100.5 85.8 Abandonment and impairment 12.5 2.0 — Total expenses 162.7 171.6 143.3 Revenues less expenses 179.3 214.3 196.6 Income taxes (59.6 ) (71.4 ) (70.5 ) Results of operations for gas- and oil-producing activities (excluding corporate overhead and interest costs) $ 119.7 $ 142.9 $ 126.1 (1) Primarily represents revenues received from Questar Gas pursuant to the Wexpro agreements. Revenues include reimbursement of general and administrative expenses amounting to $28.9 million in 2015 , $30.5 million in 2014 and $27.5 million in 2013 . Estimated Quantities of Proved Gas and Oil Reserves Estimates of proved gas and oil reserves have been prepared in accordance with professional engineering standards and the Company's established internal controls. The estimates were prepared by Wexpro's reservoir engineers, individuals who possess professional qualifications and demonstrated competency in reserves estimation and evaluation. SEC guidelines with respect to standard economic assumptions are not applicable to the large proportion of Wexpro gas reserves that are managed, developed, produced and delivered to Questar Gas at cost of service. The SEC acknowledges this potential circumstance and provides that companies may give appropriate recognition to differences arising because of the effect of the rate-making process. Accordingly, in cases where differences arise because of the effect of the rate-making process, Wexpro uses a minimum-producing rate or maximum well-life limit to determine the ultimate quantity of reserves attributable to each well. The Company annually reviews all proved undeveloped reserves to ensure an appropriate plan for development exists. All proved undeveloped reserves are converted to proved developed reserves within five years of the proved undeveloped reserve booking. At December, 2015 , all of the Company's proved undeveloped reserves were scheduled to be developed within five years from the date such locations were initially disclosed as proved undeveloped reserves. Wexpro converted 94% of prior year-end proved undeveloped reserves to developed status in 2015 , 7% in 2014 and 42% in 2013 . Revisions of prior estimates reflect the addition of new proved undeveloped reserves associated with current five-year development plans, revisions to prior proved undeveloped reserves, revisions to infill drilling development plans, as well as the transfer of proved undeveloped reserves to unproved reserve categories due to changes in development plans. The negative revisions reflected in the 2013 reserve estimates are due in part to an increase in well spacing in the Pinedale field based on 2013 drilling results. The negative revisions in 2014 are primarily due to the impact on proved undeveloped reserves from significant changes in the Company's five-year development plans based on the drop in natural gas and oil prices at the end of 2014. The negative revisions in 2015 were due to lower natural gas and oil prices in 2015. In establishing reserves, the SEC allows the use of techniques that have been field tested and demonstrated to provide reasonably certain results with consistency and repeatability in the formation being evaluated or in an analogous formation. In general, the Company uses numerous data elements and analysis techniques in the estimation of proved reserves. These data elements and techniques include, but are not limited to, production tests, well performance data, decline curve analysis, wireline logs, core data, pressure transient analysis, seismic data and interpretation, and material balance calculations. The Company utilizes these reliable technologies to book proved reserves, however, no reserves were recorded from increasing recovery factor estimates or from extending down-dip reservoir limits associated with the use of reliable technology. Wexpro's estimates of proved reserves were made by the Company's engineers and are the responsibility of management. The Company requires that reserve estimates be made by qualified reserves estimators (QREs), as defined by the Society of Petroleum Engineers' standards. The QREs interact with engineering, land, and geoscience personnel to obtain the necessary data for projecting future production, costs, net revenues and ultimate recoverable reserves. Management approves the QREs' reserve estimates annually. All QREs receive ongoing education on the fundamentals of SEC reserves reporting through internal and external training over the policies for estimating and recording reserves in compliance with applicable SEC definitions and guidance. Gas and oil reserve estimates are subject to numerous uncertainties inherent in estimating quantities of proved reserves, projecting future rates of production and timing of development expenditures. The accuracy of these estimates depends on the quality of available data and on engineering and geological interpretation and judgment. Reserve estimates are imprecise and will change as additional information becomes available. Ownership interests in properties may change due to claims of ownership rights. Estimates of economically recoverable reserves prepared by different engineers, or by the same engineers at different times, may vary significantly. Results of subsequent drilling, testing and production may cause either upward or downward revisions of previous estimates. In addition, the estimation process involves economic assumptions relating to commodity prices, production costs, severance and other taxes, capital expenditures and remediation costs. Changes in field-development plans will impact the reporting of reserves because the Company limits the recording of proved undeveloped reserves to those that are expected to be developed within the next five years. Actual results most likely will vary from the estimates. Any significant variance from these assumptions could affect the recoverable quantities of reserves attributable to any particular property and the classifications of reserves. Estimated quantities of proved gas and oil reserves are set forth below: Natural Gas Oil and NGL Natural Gas Equivalents (Bcf) (Mbbl) (Bcfe) Proved Reserves Balances at December 31, 2012 697.2 6,169 734.2 Revisions of previous estimates (112.8 ) (1,348 ) (120.8 ) Extensions and discoveries 153.5 857 158.6 Purchase of reserves in place 133.9 556 137.2 Production (60.6 ) (617 ) (64.3 ) Balances at December 31, 2013 811.2 5,617 844.9 Revisions of previous estimates (220.2 ) (442 ) (222.7 ) Extensions and discoveries 4.0 205 5.2 Purchase of reserves in place 35.9 157 36.8 Sale of reserves in place (0.5 ) (219 ) (1.9 ) Production (64.3 ) (587 ) (67.8 ) Balances at December 31, 2014 566.1 4,731 594.5 Revisions of previous estimates (58.7 ) (1,424 ) (67.2 ) Extensions and discoveries 79.7 320 81.6 Purchase of reserves in place 10.8 29 11.0 Sale of reserves in place (3.2 ) — (3.2 ) Production (62.1 ) (464 ) (64.9 ) Balances at December 31, 2015 532.6 3,192 551.8 Proved Developed Reserves Balances at December 31, 2012 523.9 4,967 553.7 Balances at December 31, 2013 560.0 4,384 586.3 Balances at December 31, 2014 552.9 4,678 581.0 Balances at December 31, 2015 453.3 2,885 470.7 Proved Undeveloped Reserves Balances at December 31, 2012 173.3 1,202 180.5 Balances at December 31, 2013 251.2 1,233 258.6 Balances at December 31, 2014 13.2 53 13.5 Balances at December 31, 2015 79.3 307 81.1 Standardized Measure of Future Net Cash Flows Relating to Non-Cost-of-Service Proved Reserves The above December 31, 2015 and 2014 balances of total proved reserves includes 10.4 of non-cost of service reserves associated with the December 2015 Vermillion Basin acquisition and 36.6 Bcfe of non-cost-of-service reserves associated with the December 2014 Canyon Creek acquisition. In the fourth quarter of 2015, the Commissions approved the inclusion of the Canyon Creek acquisition in the Wexpro II Agreement, effective December 1, 2015. The standardized measure of future net cash flows applies only to non-cost-of-service reserves. Information on the standardized measure of future net cash flows has not been included for cost-of-service activities because the operations of and return on investment for such properties are regulated by the Wexpro agreements. Future net cash flows were calculated at December 31, 2015 by applying prices used in estimating 2015 reserves. Year-end production costs, development costs and appropriate statutory income tax rates, with consideration of future tax rates already legislated, were used to compute the future net cash flows. All cash flows were discounted at 10% to reflect the time value of cash flows, without regard to the risk of specific properties. The assumptions used to derive the standardized measure of future net cash flows, including the 10% discount rate, are those required by accounting standards and do not necessarily reflect the Company's expectations. The usefulness of the standardized measure of future net cash flows is impaired because of the reliance on reserve estimates and production schedules that are inherently imprecise. Furthermore, information contained in the following disclosure may not represent realistic assessments of future cash flows, nor should the standardized measure of future net cash flows be viewed as representative of the current value of the Company's reserves. Management considers a number of factors when making investment and operating decisions. These include estimates of probable and proved reserves and varying price and cost assumptions considered more representative of a range of anticipated economic conditions. The standardized measure of future net cash flows relating to non-cost-of-service proved reserves is presented in the table below: December 31, December 31, 2015 2014 (in millions) (in millions) Future cash inflows $ 29.5 $ 190.7 Future production costs (15.7 ) (65.9 ) Future income tax expenses (4.8 ) (43.7 ) Future net cash flows 9.0 81.1 10% annual discount for estimated timing of net cash flows (3.6 ) (34.4 ) Standardized measure of discounted future net cash flows $ 5.4 $ 46.7 The principal sources of change in the standardized measure of future net cash flows relating to non-cost-of-service proved reserves are presented in the table below: Year Ended December 31, Year Ended December 31, 2015 2014 (in millions) (in millions) Balance at beginning of year $ 46.7 $ — Net increase due to purchases of reserves in place 6.0 46.8 Transfer to cost-of-service properties (25.9 ) — Sales of gas and oil produced during the period, net of production costs (8.4 ) (1.5 ) Net change in prices and production costs related to future production (31.0 ) 0.8 Net change due to revisions of quantity estimates (0.4 ) — Accretion of discount 6.7 0.6 Net change in income taxes 11.7 — Net Change (41.3 ) 46.7 Balance at end of year $ 5.4 $ 46.7 |
Schedule of Valuation and Quali
Schedule of Valuation and Qualifying Accounts (Notes) | 12 Months Ended |
Dec. 31, 2015 | |
Valuation and Qualifying Accounts [Abstract] | |
Schedule of Valuation and Qualifying Accounts | Financial Statement Schedules: QUESTAR CORPORATION Schedule of Valuation and Qualifying Accounts Column A Description Column B Beginning Balance Column C Amounts charged to expense Column D Deductions for accounts written off and other Column E Ending Balance (in millions) Year Ended December 31, 2015 Allowance for bad debts $ 1.7 $ 2.1 $ (1.7 ) $ 2.1 Year Ended December 31, 2014 Allowance for bad debts 1.7 1.7 (1.7 ) 1.7 Year Ended December 31, 2013 Allowance for bad debts 3.1 0.2 (1.6 ) 1.7 QUESTAR GAS COMPANY Schedule of Valuation and Qualifying Accounts Column A Description Column B Beginning Balance Column C Amounts charged to expense Column D Deductions for accounts written off and other Column E Ending Balance (in millions) Year Ended December 31, 2015 Allowance for bad debts $ 1.4 $ 2.1 $ (1.8 ) $ 1.7 Year Ended December 31, 2014 Allowance for bad debts 1.4 1.7 (1.7 ) 1.4 Year Ended December 31, 2013 Allowance for bad debts 2.8 0.2 (1.6 ) 1.4 QUESTAR PIPELINE COMPANY Schedule of Valuation and Qualifying Accounts Column A Description Column B Beginning Balance Column C Amounts charged to expense Column D Deductions for accounts written off and other Column E Ending Balance (in millions) Year Ended December 31, 2015 Allowance for bad debts $ 0.3 $ — $ 0.1 $ 0.4 Year Ended December 31, 2014 Allowance for bad debts 0.3 — — 0.3 Year Ended December 31, 2013 Allowance for bad debts 0.3 — — 0.3 |
Summary of Significant Accoun30
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Line Items] | |
Nature of Business | A. Nature of Business Questar Corporation (Questar or the Company) 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). |
Principles of Consolidation | B. Principles of Consolidation The Questar and Questar Pipeline consolidated financial statements contain the accounts of the parent companies and their majority-owned or controlled subsidiaries. The consolidated financial statements were prepared in accordance with U.S. generally accepted accounting principles (GAAP) and with the instructions for Annual Reports on Form 10-K and SEC Regulations S-X and S-K. All significant intercompany accounts and transactions have been eliminated in consolidation. |
Investment in Unconsolidated Affiliate | C. Investment in Unconsolidated Affiliate Questar and Questar Pipeline use the equity method to account for an investment in an unconsolidated affiliate where they do not have control, but have significant influence. The investment in the unconsolidated affiliate on the Consolidated Balance Sheets equals Questar Pipeline's proportionate share of equity reported by the unconsolidated affiliate. The investment is assessed for possible impairment when events indicate that the fair value of the investment may be below Questar Pipeline'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. White River Hub, LLC, a limited liability company and FERC-regulated transporter of natural gas, is the sole unconsolidated affiliate. Questar Pipeline owns 50% of White River Hub, LLC, and is the operator. |
Use of Estimates | D. Use of Estimates The preparation of financial statements and notes in conformity with GAAP requires that management formulate estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. The Company also incorporates estimates of proved developed and total proved gas and oil reserves in the calculation of depreciation, depletion and amortization rates of its gas and oil properties. Changes in estimated quantities of the Company's reserves could impact its reported financial results as well as disclosures regarding the quantities of proved gas and oil reserves. Actual results could differ from these estimates. |
Revenue Recognition | E. Revenue Recognition Questar Gas Questar Gas records revenues in the period that gas is delivered, including gas delivered to residential and commercial customers but not billed as of the end of the accounting period. Unbilled gas deliveries are estimated for the period from the date meters are read to the end of the month. Approximately one-half month of revenue is estimated in any period. Gas costs and other variable costs are recorded on the same basis to ensure proper matching of revenues and expenses. Questar Gas's tariff allows for monthly adjustments to customer bills to approximate the effect of abnormal weather on non-gas revenues. The weather-normalization adjustment significantly reduces the impact of weather on gas-distribution earnings. The PSCU and PSCW approved a conservation enabling tariff (CET) to promote energy conservation. Under the CET, Questar Gas non-gas revenues are decoupled from the volume of gas used by customers. The tariff specifies an allowed monthly revenue per customer, with differences to be deferred and recovered from or refunded to customers through periodic rate adjustments. Rate adjustments occur every six months under the CET. The adjustments amortize deferred CET amounts over a 12 -month period. These adjustments are limited to 5% of non-gas revenues. Questar Gas allows customers the option of paying an estimated fixed monthly bill throughout the year on a budget-billing program. The estimated payments are adjusted to actual usage annually. Amounts collected from customers under this program in excess of gas deliveries are recorded on the Consolidated Balance Sheets as customer advances. The budget-billing option does not impact revenue recognition. Questar Gas may collect revenues subject to possible refunds and establish reserves pending final orders from regulatory agencies. Wexpro Wexpro recognizes revenues in the period that services are provided or products are delivered. In accordance with the Wexpro agreements, production from the gas properties operated by Wexpro is delivered to Questar Gas at Wexpro's cost of providing this service, including an after-tax return on Wexpro's investment. Wexpro sells crude oil and NGL production from certain producing properties at market prices, with the revenues used to recover operating expenses and to provide Wexpro a return on its investment. Any operating income remaining after recovery of expenses and Wexpro's return on investment is divided between Questar Gas and Wexpro, with Wexpro retaining 46% . Amounts received by Questar Gas from the sharing of Wexpro's oil and NGL income are used to reduce natural gas costs to utility customers. Wexpro's investment base consists of its costs of acquired properties and commercial wells and related facilities, and is adjusted for working capital and reduced for deferred income taxes and accumulated depreciation, depletion and amortization. Property acquisition costs only pertain to properties that have been approved under the Wexpro II Agreement. Wexpro may collect revenues subject to possible refunds and establish reserves pending final calculation of the after-tax return on investment, which is adjusted annually. Revenues associated with the sale of gas, oil and NGL are accounted for using the sales method, whereby revenue is recognized as gas, oil and NGL are sold to purchasers. A liability is recorded to the extent that Wexpro has sold or delivered volumes in excess of its share of remaining gas and oil reserves in the underlying properties. Questar Pipeline Questar Pipeline and subsidiaries recognize revenues in the period that services are provided or products are delivered. The straight-fixed-variable rate design used by Questar Pipeline, which allows for recovery of substantially all fixed costs in the demand or reservation charge, reduces the earnings impact of volume changes on gas transportation and storage operations. Questar Pipeline may collect revenues subject to possible refunds and establish reserves pending final orders from regulatory agencies. |
Cost of Sales | F. Cost of Sales 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 agreements. 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. |
Regulation | G. Regulation The Company applies the regulatory accounting principles to its rate-regulated businesses. Under these principles, the Company records regulatory assets and liabilities that would not be otherwise recorded under GAAP for non-rate-regulated entities. Regulatory assets and liabilities record probable future revenues or expenses associated with certain charges or credits that will be recovered from or refunded to customers through the rate-making process. Questar Gas accounts for purchased-gas costs in accordance with procedures authorized by the PSCU and the PSCW. Purchased-gas costs that are different from those provided for in present rates are accumulated and recovered or credited through future rate changes. Questar Gas may hedge a portion of its natural gas supply to mitigate price fluctuations for gas-distribution customers. The regulatory commissions allow Questar Gas to record periodic mark-to-market adjustments for commodity-price derivatives in the purchased-gas adjustment account. Questar had a commodity-price derivative liability of $0.2 million at December 31, 2015 and no commodity-price derivative balances at December 31, 2014 . See Note 12 for a description and comparison of regulatory assets and liabilities as of December 31, 2015 and 2014 . Wexpro manages and produces cost-of-service reserves for gas utility affiliate Questar Gas under the terms of the Wexpro agreements, comprehensive agreements with the states of Utah and Wyoming (see Note 11). Questar Gas is regulated by the PSCU and the PSCW. The Idaho Public Utilities Commission has contracted with the PSCU for rate oversight of Questar Gas operations in a small area of southeastern Idaho. Questar Pipeline is regulated by the FERC. These regulatory agencies establish rates for the sale, storage and transportation of natural gas. The regulatory agencies also regulate, among other things, the extension and enlargement or abandonment of jurisdictional natural gas facilities. Regulation is intended to permit the recovery, through rates, of the cost of service, including a return on investment. |
Cash and Cash Equivalents | H. Cash and Cash Equivalents Cash equivalents consist principally of repurchase agreements with maturities of three months or less. In almost all cases, the repurchase agreements are highly liquid investments in overnight securities made through commercial bank accounts that result in available funds the next business day. |
Notes Receivable and Notes Payable | I. Notes Payable to and Notes Receivable from Questar Notes payable to or receivable from Questar appearing in the financial statements and disclosures of Questar Gas and Questar Pipeline represent interest bearing demand notes for cash borrowed from Questar for use in operations or loaned to Questar until needed in operations. The funds are centrally managed by Questar. Amounts loaned to Questar earn an interest rate that is identical to the interest rate paid by the companies for borrowings from Questar. |
Property, Plant and Equipment | J. Property, Plant and Equipment Property, plant and equipment balances are stated at historical cost. Maintenance and repair costs are expensed as incurred. |
Cost-of-service gas and oil operations | Cost-of-service gas and oil operations The successful efforts method of accounting is used for cost-of-service reserves developed and produced by Wexpro for gas utility affiliate Questar Gas. Cost-of-service reserves are properties for which the operations and return on investment are subject to the Wexpro agreements (see Note 11). Under the successful efforts method, Wexpro capitalizes the costs of acquiring leaseholds, drilling development wells, drilling successful exploratory wells, and purchasing related support equipment and facilities. Geological and geophysical studies and other exploratory activities are expensed as incurred. Costs of production and general corporate activities are expensed in the period incurred. A gain or loss is generally recognized on assets as they are retired from service. |
Contributions-in-aid-of construction | Contributions in aid of construction Customer contributions in aid of construction reduce plant unless the amounts are refundable to customers. Contributions for main-line extensions may be refundable to customers if additional customers connect to the main-line segment within five years. Refundable contributions are recorded as liabilities until refunded or the five -year period expires without additional customer connections. Amounts not refunded reduce plant. Capital expenditures in the Consolidated Statements of Cash Flows are reported net of non-refundable contributions. As a result of Questar Gas's Utah and Wyoming general rate cases, effective March 1, 2014 and March 1, 2015, respectively, the Company does not expect to record any new refundable customer contributions in aid of construction for Utah and Wyoming customers. |
Depreciation, depletion and amortization | Depreciation, depletion and amortization Major categories of fixed assets in gas distribution, transportation and storage operations are grouped together and depreciated using a straight-line method. Gains and losses on asset disposals are recorded as adjustments in accumulated depreciation. The Company has not capitalized future abandonment costs on a majority of its long-lived gas distribution and transportation assets due to a lack of a legal obligation to restore the area surrounding abandoned assets. In these cases, the regulatory agencies have opted to leave retired facilities in the ground undisturbed rather than excavate and dispose of the assets. Depreciation rates for Questar Gas and Questar Pipeline are established through rate proceedings. Capitalized costs of development wells and leaseholds are amortized on a field-by-field basis using the unit-of-production method and the estimated proved developed or total proved gas and oil reserves. Oil and NGL volumes are converted to natural gas equivalents using the ratio of one barrel of crude oil, condensate or NGL to 6,000 cubic feet of natural gas. The Company capitalizes an estimate of the fair value of future abandonment costs associated with cost-of-service reserves and depreciates these costs using a unit-of-production method. The following represent average depreciation, depletion and amortization rates of the Company's capitalized costs: Year Ended December 31, 2015 2014 2013 Questar Gas distribution plant 2.6 % 2.7 % 2.7 % Cost-of-service gas and oil properties, per Mcfe $ 1.83 $ 1.75 $ 1.56 Questar Pipeline transportation, storage and other energy services 3.2 % 3.2 % 3.4 % Questar Gas's depreciation rates include a component for the cost of plant removal. Accordingly, Questar Gas recognizes the cost of plant removal as depreciation expense. The related cost of removal accrual is reflected as a regulatory liability on the Questar Gas Balance Sheets (see Note 12). At the time property, plant and equipment is retired, removal expenses less salvage, are charged to the regulatory cost of plant removal liability. |
Impairment of Long-Lived Assets | K. Impairment of Long-Lived Assets Proved gas and oil properties are evaluated on a field-by-field basis for potential impairment. Other properties are evaluated on a specific-asset basis or in groups of similar assets, as applicable. Impairment is indicated when a triggering event occurs and the sum of the estimated undiscounted future net cash flows of an evaluated asset is less than the asset's carrying value. Triggering events could include, but are not limited to, an impairment of gas and oil reserves caused by mechanical problems, faster-than-expected decline of reserves, lease-ownership issues, other-than-temporary decline in gas and oil prices, and changes in the utilization of pipeline assets. If impairment is indicated, fair value is estimated using a discounted cash flow approach that incorporates market interest rates or, if available, other market data. The amount of impairment loss recorded, if any, is the difference between the fair value of the asset and the current net book value. Cash flow estimates require forecasts and assumptions for many years into the future for a variety of factors, including commodity prices, commodity transportation rates and operating costs. Wexpro recorded a $12.1 million pre-tax leasehold impairment charge in the fourth quarter of 2015 and a $2.0 million pre-tax abandonment and impairment charge for its share of the remaining investment in the Brady field in the second quarter of 2014. Questar Pipeline recorded an $80.6 million pre-tax impairment of the eastern segment of its Southern Trails Pipeline in the third quarter of 2013. See Note 17 for additional details. |
Goodwill and Other Intangible Assets | L. Goodwill Goodwill represents the excess of the amount paid over the fair value of net assets acquired in a business combination, and is not subject to amortization. Goodwill and indefinite-lived intangible assets are tested for impairment at least once a year or when a triggering event occurs. The Company evaluates whether it is more likely than not that the carrying value of a reporting unit is greater than its fair value using events and circumstances such as economic conditions, industry changes, financial performance, etc. Fair value is measured using actively traded market values of other comparable companies in the same businesses. If the fair value of the reporting unit exceeds its carrying value then goodwill is considered not to be impaired. If the carrying value of the business unit is greater than the fair value, an impairment of goodwill is recognized equal to the excess of the carrying amount of goodwill over its fair value. |
Capitalized Interest and Allowance for Funds Used During Construction | M. Capitalized Interest and Allowance for Funds Used During Construction The Company capitalizes interest costs when applicable. The PSCU, PSCW and FERC require the capitalization of an allowance for funds used during construction (AFUDC) for rate-regulated plant and equipment. The Wexpro agreements require capitalization of AFUDC on cost-of-service gas and oil development projects. |
Derivative Instruments and Hedging Activities | N. Derivative Instruments and Hedging Activities The Company may elect to designate a derivative instrument as a hedge of exposure to changes in fair value or cash flows. A derivative instrument qualifies as a hedge if all of the following tests are met: • The item to be hedged exposes the Company to market risk. • The derivative reduces the risk exposure and is designated as a hedge at the inception of the hedging relationship. • At the inception of the hedge and throughout the hedge period, there is a high correlation between changes in the fair value of the derivative instrument and the fair value of the underlying hedged item. If the hedged exposure is a fair value exposure, the gain or loss on the derivative instrument is recognized in earnings in the period of the change together with the offsetting gain or loss from the change in fair value of the hedged item. If the hedged exposure is a cash flow exposure, the effective portion of the gain or loss on the derivative instrument is reported initially as a component of accumulated other comprehensive income (loss) (AOCI) and subsequently reclassified into earnings when the forecasted transaction affects earnings. Any amount excluded from the assessment of hedge effectiveness, as well as the ineffective portion of the gain or loss, is reported currently in earnings. When a derivative instrument is designated as a cash flow hedge of a forecasted transaction that becomes probable of not occurring, the gain or loss on the derivative is immediately reclassified into earnings from AOCI. See Note 7 for further discussion on derivatives and hedging. |
Credit Risk | O. Credit Risk The Rocky Mountain region is the Company's primary market area. Exposure to credit risk may be affected by the concentration of customers in this region due to changes in economic or other conditions. Customers include individuals and numerous commercial and industrial enterprises that may react differently to changing conditions. Management believes that its credit-review procedures, loss reserves, customer deposits and collection procedures have adequately provided for usual and customary credit-related losses. Loss reserves are periodically reviewed for adequacy and may be established on a specific-case basis. Bad debt expense associated with accounts receivable amounted to $2.1 million in 2015 , $1.7 million in 2014 and $0.2 million in 2013 . The allowance for bad debts was $2.1 million at December 31, 2015 and $1.7 million at 2014 . Questar Gas's retail gas operations account for a majority of the bad debt expense. Questar Gas estimates bad debt expense as a percentage of general-service revenues with periodic adjustments. Uncollected accounts are generally written off six months after gas is delivered and interest is no longer accrued. Questar Gas recovers bad debt costs related to the gas-cost portion of rates in its Utah operations through a purchased-gas adjustment to rates. |
Asset Retirement Obligations | P. Asset Retirement Obligations Questar records an asset retirement obligation (ARO) 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 Wexpro gas and oil wells, production facilities and certain other properties. The Company has not capitalized future abandonment costs 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. In these cases, the regulatory agencies have opted to leave retired facilities in the ground undisturbed rather than requiring the Company to excavate and dispose of the 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 on 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. See Note 5 for further discussion on AROs. |
Income Taxes | Q. Income Taxes Questar and its subsidiaries file a consolidated federal income tax return. Questar Gas and Questar Pipeline account for income taxes on a separate return basis and record tax expenses and benefits as they are generated. Questar Gas and Questar Pipeline make payments to or receive payments from Questar for such tax expenses or benefits as they are generated on the consolidated income tax return. Deferred income taxes are recorded for the temporary differences arising between the book and tax carrying amounts of assets and liabilities. These differences create taxable or tax-deductible amounts for future periods. Questar Gas uses the deferral method to account for investment tax credits as required by regulatory commission. The Company records interest earned on income tax refunds in interest and other income and records penalties and interest charged on tax deficiencies in interest expense. Accounting standards for income taxes specify the accounting for uncertainty in income taxes by prescribing a minimum recognition threshold for a tax position to be reflected in the financial statements. If recognized, the tax benefit is measured as the largest amount of tax benefit that is more-likely-than-not to be realized upon ultimate settlement. Management has considered the amounts and the probabilities of the outcomes that could be realized upon ultimate settlement and believes that it is more-likely-than-not that the Company's recorded income tax benefits will be fully realized. There were no unrecognized tax benefits at the beginning or end of the years ended December 31, 2015 , 2014 or 2013 . The 2015 federal income tax return has not been filed. For the 2014, 2015, and 2016 tax years, Questar was accepted into the IRS's Compliance Assurance Process (CAP) Maintenance program. The CAP employs real-time resolution to improve federal tax compliance by resolving all or most tax positions prior to filing the related tax return. Successful conclusion of the CAP allows the IRS to achieve an acceptable level of assurance regarding the accuracy of the taxpayer's filed tax return and to eliminate or substantially reduce the need for a traditional examination. The CAP Maintenance program is administered by the IRS and indicates that the Company is a compliant taxpayer. The IRS has closed its review of all prior year tax returns. |
Earnings Per Share | R. Earnings Per Share Basic earnings per share (EPS) is computed by dividing net income by the weighted-average number of common shares outstanding during the reporting period, which includes vested undistributed restricted stock units (RSUs) and vested undistributed deferred RSUs. 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 RSUs with forfeitable dividend equivalents 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 or dividend equivalents are participating securities for the computation of basic earnings per share under the two-class method. The application of the two-class method has an insignificant impact on the calculation of Questar's basic and diluted EPS. See Note 3 for further discussion on EPS. |
Share-Based Compensation | S. Share-Based Compensation Questar may issue stock options, restricted shares, RSUs and performance shares to certain officers, employees and non-employee directors under the LTSIP. The Company uses the Black-Scholes-Merton mathematical model in estimating the fair value of stock options and the Monte Carlo simulation method in estimating the fair value of performance shares for accounting purposes. The granting of restricted shares and RSUs results in recognition of compensation cost measured at the grant-date market price. Questar uses an accelerated method in recognizing share-based compensation costs with graded vesting periods. See Note 13 for further discussion on share-based compensation. |
Comprehensive Income | T. Comprehensive Income Comprehensive income, as reported on Questar's Consolidated Statements of Comprehensive Income, is the sum of net income as reported on the Questar Consolidated Statements of Income and net other comprehensive income (loss) (OCI) as reported on the Questar Consolidated Statements of Common Shareholders' Equity. OCI includes recognition of the under-funded position of pension and other postretirement benefit plans, interest rate and commodity-based 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 and other postretirement benefit (OPB) costs are accrued, as the Company records interest expense for hedged interest payments, as the Company reaches settlement of commodity-based hedges and when the long-term investment is sold or otherwise realized. Comprehensive income, as reported on Questar Pipeline's Consolidated Statements of Comprehensive Income, is the sum of net income as reported on the Questar Pipeline Consolidated Statements of Income and net OCI as reported on the Questar Pipeline Consolidated Statements of Common Shareholder's Equity. OCI includes interest rate and commodity-based cash flow hedges, and the related income taxes. Income or loss is recognized as the company records interest expense for hedged interest payments and as the Company reaches settlement of commodity-based hedges. See Note 4 for additional information related to OCI and AOCI. |
Business Segments | U. Business Segments Line of business information is presented according to senior management's basis for evaluating performance considering differences in the nature of products, services and regulation, among other factors. Certain intersegment sales include intercompany profit. See Note 15 for more information on business segments. |
Recent Accounting Developments | . Recent Accounting Developments In January 2016, The Financial Accounting Standards Board (FASB) issued Accounting Standards Updates (ASU) 2016-01, Financial Instruments-Overall . The ASU was developed to enhance the reporting model for financial instruments in order to provide users of financial statements with more decision-useful information. The update addresses certain aspects of recognition, measurement, presentation and disclosure of financial instruments. The update is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company is currently evaluating the ASU's effect on its financial position, results of operations, cash flows and associated disclosures. In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes . The ASU simplifies the presentation of deferred income taxes. The update requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The guidance will be effective for annual periods beginning after December 15, 2016. The Company has adopted this update for the current reporting period and has retrospectively reflected all deferred taxes as noncurrent for the periods presented in the Company's statement of financial position, in Item 6 of Part II of this Annual Report and in the accompanying notes (see Note 15). In August 2015, the FASB issued ASU 2015-14. This update defers the effective date of ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which the FASB issued in May of 2014, by one year. ASU 2014-09 replaces most of the existing revenue guidance with a single set of principles, including changes in recognition and disclosure requirements. The revised effective date will be January 1, 2018 and early adoption is permitted beginning January 1, 2017. The new guidance must be applied retrospectively for each prior period presented or via a cumulative effect upon the date of initial application. The Company is currently evaluating the ASU's effect on its financial position, results of operations or cash flows, as well as which transition approach it will take. In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330) . The ASU states that inventory should be measured at the lower of cost and net realizable value. The guidance will be effective beginning January 1, 2017 and will be applied prospectively. The Company is currently evaluating the ASU's effect on its financial position, results of operations and cash flows. In May 2015, the FASB issued ASU 2015-07, Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (Topic 820) . The ASU removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient and it removes the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the net asset value per share practical expedient. The guidance will be effective beginning January 1, 2016 and early adoption is permitted. The Company has adopted this update for the current reporting period and has retrospectively adjusted all periods presented within Note 14. In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30) . The ASU simplifies the presentation of debt issuance costs by requiring that the debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The guidance will be effective beginning January 1, 2016 and early adoption is permitted. The new guidance must be applied retrospectively for each prior period presented. The Company is currently evaluating the ASU's effect on its financial position. |
Reclassifications | . Reclassifications Certain reclassifications were made to prior year-end financial statements and notes to conform to the 2015 presentation |
Summary of Significant Accoun31
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Line Items] | |
Cost of sales detail | The details of Questar's consolidated cost of sales are as follows: Year Ended December 31, 2015 2014 2013 (in millions) Questar Gas Gas purchases $ 82.5 $ 136.5 $ 186.6 Operator service fee 319.0 349.7 294.6 Transportation and storage 79.2 79.6 80.1 Gathering 22.1 21.0 18.8 Royalties 33.3 60.1 44.3 Storage (injection),net (3.5 ) (1.1 ) (0.8 ) Purchased-gas account adjustment 20.5 (45.8 ) 22.0 Other 5.0 4.8 5.0 Total Questar Gas cost of natural gas sold 558.1 604.8 650.6 Elimination of Questar Gas cost of natural gas sold - affiliated companies (393.5 ) (423.4 ) (370.9 ) Total Questar Gas cost of natural gas sold - unaffiliated parties 164.6 181.4 279.7 Questar Pipeline Total Questar Pipeline cost of sales 8.9 4.0 6.1 Other cost of sales 1.7 0.9 0.1 Total cost of sales $ 175.2 $ 186.3 $ 285.9 |
Average depreciation, depletion and amortization rates of the Company's capitalized costs | The following represent average depreciation, depletion and amortization rates of the Company's capitalized costs: Year Ended December 31, 2015 2014 2013 Questar Gas distribution plant 2.6 % 2.7 % 2.7 % Cost-of-service gas and oil properties, per Mcfe $ 1.83 $ 1.75 $ 1.56 Questar Pipeline transportation, storage and other energy services 3.2 % 3.2 % 3.4 % |
Amounts recorded in the income statement for the capitalization of funds used during construction and interest costs | Amounts recorded in the Consolidated Statements of Income for the capitalization of AFUDC and interest costs are disclosed in the table below: Year Ended December 31, 2015 2014 2013 (in millions) AFUDC (recorded as an increase in interest and other income) Questar Gas $ — $ 0.9 $ — Wexpro 0.6 0.8 4.6 Questar Pipeline 0.6 1.1 1.7 Total AFUDC $ 1.2 $ 2.8 $ 6.3 Capitalized interest costs (recorded as a reduction of interest expense) Questar Gas $ 0.1 $ 0.5 $ 0.2 Questar Pipeline 0.2 0.5 0.6 Total capitalized interest costs $ 0.3 $ 1.0 $ 0.8 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Schedule Of Weighted Average Number Of Shares Basic And Diluted | A reconciliation of the components of basic and diluted shares used in the EPS calculation follows: Year Ended December 31, 2015 2014 2013 (in millions) Weighted-average basic common shares outstanding 176.1 175.8 175.4 Potential number of shares issuable under the Company's LTSIP 0.2 0.3 0.6 Weighted-average diluted common shares outstanding 176.3 176.1 176.0 |
Accumulated Other Comprehensi33
Accumulated Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Other Comprehensive Income [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | Details of the changes in the components of AOCI, net of income taxes, as reported in Questar's Consolidated Statements of Common Shareholders' Equity, are shown in the tables below. The tables also disclose details of income taxes related to each component of OCI: Pension OPB Interest rate cash flow hedges Commodity cash flow hedges Long-term invest. Total Actuarial loss Prior service cost Total Act. loss and prior serv. cost (in millions) Balances at December 31, 2013 $ (108.4 ) $ (0.4 ) $ (108.8 ) $ (10.2 ) $ (22.9 ) $ — $ 0.1 $ (141.8 ) OCI before reclassifications (111.5 ) — (111.5 ) (2.1 ) — — — (113.6 ) Reclassified from AOCI (1) 15.4 0.6 16.0 0.7 0.5 — — 17.2 Income taxes OCI before reclassifications 42.6 — 42.6 0.8 — — — 43.4 Reclassified from AOCI (2) (5.9 ) (0.2 ) (6.1 ) (0.3 ) (0.1 ) — — (6.5 ) Total income taxes 36.7 (0.2 ) 36.5 0.5 (0.1 ) — — 36.9 Net other comprehensive income (loss) (59.4 ) 0.4 (59.0 ) (0.9 ) 0.4 — — (59.5 ) Balances at December 31, 2014 (167.8 ) — (167.8 ) (11.1 ) (22.5 ) — 0.1 (201.3 ) OCI before reclassifications 0.6 — 0.6 1.8 — 1.2 — 3.6 Reclassified from AOCI (1)(3) 21.9 0.1 22.0 1.2 0.6 (1.4 ) — 22.4 Income taxes OCI before reclassifications (0.2 ) — (0.2 ) (0.7 ) — (0.4 ) — (1.3 ) Reclassified from AOCI (2)(4) (8.4 ) — (8.4 ) (0.5 ) (0.3 ) 0.5 — (8.7 ) Total income taxes (8.6 ) — (8.6 ) (1.2 ) (0.3 ) 0.1 — (10.0 ) Net other comprehensive income (loss) 13.9 0.1 14.0 1.8 0.3 (0.1 ) — 16.0 Balances at December 31, 2015 $ (153.9 ) $ 0.1 $ (153.8 ) $ (9.3 ) $ (22.2 ) $ (0.1 ) $ 0.1 $ (185.3 ) (1) Interest rate cash flow hedge amounts are included in their entirety as charges to interest expense on the Consolidated Statements of Income. (2) Income tax reclassifications related to interest rate cash flow hedge amounts are included in their entirety as credits to income taxes on the Consolidated Statements of Income. (3) Commodity cash flow hedge amounts are included in their entirety as an increase in Questar Pipeline revenue on the Consolidated Statements of Income. (4) Income tax reclassifications related to commodity cash flow hedge amounts are included in their entirety as charges to income taxes on the Consolidated Statements of Income. |
Asset Retirement Obligations (T
Asset Retirement Obligations (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Asset Retirement Obligation [Abstract] | |
Changes in AROs | Changes in Questar's AROs from the Consolidated Balance Sheets were as follows: Year Ended December 31, 2015 2014 (in millions) AROs at beginning of year $ 69.3 $ 67.7 Accretion 3.3 3.4 Liabilities incurred 1.9 3.3 Revisions in estimated cash flows 1.8 (2.7 ) Liabilities settled (8.7 ) (2.4 ) AROs at end of year $ 67.6 $ 69.3 |
Asset Retirement Obligations by line of business | Questar's consolidated AROs by line of business are summarized in the table below: December 31, 2015 2014 (in millions) Questar Gas $ 0.6 $ 0.6 Wexpro 64.6 66.3 Questar Pipeline 2.3 2.3 Other 0.1 0.1 Total $ 67.6 $ 69.3 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
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 Annual Report: Hierarchy Level of Fair Value Estimates Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value December 31, 2015 December 31, 2014 (in millions) Financial assets Cash and cash equivalents 1 $ 25.0 $ 25.0 $ 32.0 $ 32.0 Long-term investment 1 14.1 14.1 15.7 15.7 Financial liabilities Short-term debt 1 457.6 457.6 347.0 347.0 Long-term debt, including current portion 2 1,218.3 1,263.7 1,245.2 1,356.1 |
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 Annual Report: Hierarchy Level of Fair Value Estimates Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value December 31, 2015 December 31, 2014 (in millions) Financial assets Cash and cash equivalents 1 $ 10.5 $ 10.5 $ 19.8 $ 19.8 Financial liabilities Notes payable to Questar 1 273.3 273.3 119.3 119.3 Long-term debt 2 534.5 568.4 534.5 607.2 |
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 Annual Report: Hierarchy Level of Fair Value Estimates Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value December 31, 2015 December 31, 2014 (in millions) Financial assets Cash and cash equivalents 1 $ 10.2 $ 10.2 $ 7.4 $ 7.4 Notes receivable from Questar 1 6.0 6.0 40.1 40.1 Financial liabilities Long-term debt, including current portion 2 433.6 445.2 458.8 495.5 |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of Short-term Debt | The details of short-term debt are as follows: December 31, 2015 2014 (in millions) Commercial paper with various interest rates $ 457.6 $ 347.0 Weighted-average interest rate at end of year 0.50 % 0.23 % |
Schedule of Notes Payable | The following table details the notes payable to Questar from Questar Gas and the associated interest rates. There were no notes payable to Questar from Questar Pipeline at December 31, 2015 or 2014 . December 31, 2015 2014 (in millions) Questar Gas Notes payable to Questar $ 273.3 $ 119.3 Interest rate at end of year 0.35 % 0.25 % |
Schedule of Debt | The details of long-term debt are as follows: December 31, 2015 2014 (in millions) Questar Corporation 2.75% Notes due 2016 $ 250.0 $ 250.0 Questar Gas 5.31% and 6.85% Medium-term Notes due 2017 and 2018 84.5 84.5 6.30% Notes due 2018 50.0 50.0 2.98% Notes due 2024 40.0 40.0 3.28% Notes due 2027 110.0 110.0 7.20% Notes due 2038 100.0 100.0 4.78% Notes due 2043 90.0 90.0 4.83% Notes due 2048 60.0 60.0 Total Questar Gas long-term debt 534.5 534.5 Questar Pipeline 6.48% Medium-term Notes due 2018 5.0 30.1 5.83% Notes due 2018 250.0 250.0 4.875% Notes due 2041 180.0 180.0 Total Questar Pipeline long-term debt 435.0 460.1 Total long-term debt outstanding 1,219.5 1,244.6 Less current portion (250.2 ) (25.1 ) Less unamortized debt discount (1.7 ) (1.9 ) Plus unamortized debt premium 0.3 0.5 Plus fair value hedge adjustment 0.2 2.0 Total long-term debt, less current portion $ 968.1 $ 1,220.1 |
Schedule of Debt Maturities | The aggregate maturities of Questar Corporation, Questar Gas and Questar Pipeline long-term debt for the next five years are as follows: Questar Corporation Questar Gas Questar Pipeline Total Years Ending December 31, (in millions) 2016 $ 250.0 $ — $ — $ 250.0 2017 — 14.5 — 14.5 2018 — 120.0 255.0 375.0 2019 — — — — 2020 — — — — |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Components of income tax expense | The components of income tax expense were as follows: Year Ended December 31, 2015 2014 2013 (in millions) Federal Current $ 45.1 $ 69.6 $ 66.5 Deferred 56.3 47.5 18.4 State Current 5.1 6.9 10.7 Deferred 4.3 2.1 5.9 Deferred investment tax credits recognized (0.2 ) (0.2 ) (0.2 ) Total income tax expense $ 110.6 $ 125.9 $ 101.3 |
Difference between statutory federal income tax rate and the Company's effective income tax rate | The difference between the statutory federal income tax rate and the Company's effective income tax rate is explained as follows: Year Ended December 31, 2015 2014 2013 Federal income taxes statutory rate 35.0 % 35.0 % 35.0 % Increase (decrease) in rate as a result of: State income taxes, net of federal income tax benefit 1.9 1.6 4.0 Domestic production deduction (2.0 ) (1.5 ) (1.5 ) Amortization of investment tax credits related to rate-regulated assets (0.1 ) — — Tax benefits from dividends paid to employee stock plan (1.2 ) (1.0 ) (1.0 ) Other 1.0 1.6 2.1 Effective income tax rate 34.6 % 35.7 % 38.6 % |
Significant components of deferred income taxes | Significant components of Questar's deferred income taxes were as follows: December 31, 2015 2014 (in millions) Deferred income taxes - noncurrent Deferred tax liabilities Property, plant and equipment $ 881.8 $ 827.0 Employee benefits 53.6 52.0 Other 0.6 0.5 Deferred tax liabilities - noncurrent 936.0 879.5 Deferred tax assets Asset retirement obligations 21.3 22.5 Pension and other postretirement benefits 101.0 110.8 Deferred compensation 13.6 15.7 Hedging activities 13.1 13.2 State tax credits 3.4 3.3 Valuation allowance (2.3 ) (1.6 ) Deferred tax assets, net of allowance - noncurrent 150.1 163.9 Net deferred income tax liability - noncurrent $ 785.9 $ 715.6 Deferred income taxes - current Deferred tax assets - current $ 14.9 $ 15.7 Deferred tax liabilities - current 8.5 9.9 Net deferred income tax asset - current $ 6.4 $ 5.8 |
Questar Gas [Member] | |
Components of income tax expense | The components of income tax expense were as follows: Year Ended December 31, 2015 2014 2013 (in millions) Federal Current $ (16.0 ) $ (11.9 ) $ 6.0 Deferred 48.8 42.4 23.5 State Current (2.0 ) (1.9 ) 0.6 Deferred 4.2 3.6 2.0 Deferred investment tax credit recognized (0.2 ) (0.2 ) (0.2 ) Total income tax expense $ 34.8 $ 32.0 $ 31.9 |
Difference between statutory federal income tax rate and the Company's effective income tax rate | The difference between the statutory federal income tax rate and Questar Gas's effective income tax rate is explained as follows: Year Ended December 31, 2015 2014 2013 Federal income taxes statutory rate 35.0 % 35.0 % 35.0 % Increase (decrease) in rate as a result of: State income taxes, net of federal income tax benefit 1.4 1.3 2.1 Amortization of investment tax credits related to rate-regulated assets (0.2 ) (0.2 ) (0.3 ) Other (1.1 ) 0.6 0.9 Effective income tax rate 35.1 % 36.7 % 37.7 % |
Significant components of deferred income taxes | Significant components of Questar Gas's deferred income taxes were as follows: December 31, 2015 2014 (in millions) Deferred income taxes - noncurrent Deferred tax liabilities Property, plant and equipment $ 403.0 $ 354.4 Employee benefits 28.0 23.5 Other 0.6 0.5 Deferred tax liabilities - noncurrent 431.6 378.4 Deferred tax assets Deferred compensation 0.9 0.9 Deferred tax assets - noncurrent 0.9 0.9 Net deferred income tax liability - noncurrent $ 430.7 $ 377.5 Deferred income taxes - current Deferred tax assets - current $ 2.5 $ 3.6 Deferred tax liabilities - current 8.5 9.9 Net deferred income tax liability - current $ 6.0 $ 6.3 |
Questar Pipeline [Member] | |
Components of income tax expense | The components of income tax expense were as follows: Year Ended December 31, 2015 2014 2013 (in millions) Federal Current $ 21.7 $ 21.9 $ 20.2 Deferred 10.0 11.6 (15.2 ) State Current 1.0 1.0 1.3 Deferred 0.7 1.1 0.7 Total income tax expense $ 33.4 $ 35.6 $ 7.0 |
Difference between statutory federal income tax rate and the Company's effective income tax rate | The difference between the statutory federal income tax rate and Questar Pipeline's effective income tax rate is explained as follows: Year Ended December 31, 2015 2014 2013 Federal income taxes statutory rate 35.0 % 35.0 % 35.0 % Increase in rate as a result of: State income taxes, net of federal income tax benefit 1.2 1.5 8.5 Other (0.3 ) 0.5 2.6 Effective income tax rate 35.9 % 37.0 % 46.1 % |
Significant components of deferred income taxes | Significant components of Questar Pipeline's deferred income taxes were as follows: December 31, 2015 2014 (in millions) Deferred income taxes - noncurrent Deferred tax liabilities Property, plant and equipment $ 254.0 $ 246.1 Employee benefits 12.4 10.8 Deferred tax liabilities - noncurrent 266.4 256.9 Deferred tax assets Deferred compensation 1.6 2.0 Hedging activities 13.1 13.2 State tax credits 0.7 0.7 Valuation allowance (0.5 ) (0.4 ) Deferred tax assets, net of allowance - noncurrent 14.9 15.5 Net deferred income tax liability - noncurrent $ 251.5 $ 241.4 Net deferred income tax asset - current $ 1.6 $ 1.9 |
Contingencies, Commitments an38
Contingencies, Commitments and Leases (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Lease Payments for Capital Lease | Future minimum lease payments for the five years following 2015 and the years thereafter are shown in the table below. Also shown is the present value of minimum lease payments at December 31, 2015 , which is reflected on the Consolidated Balance Sheets as current and noncurrent capital lease obligations of $1.2 million and $36.0 million , respectively. Years Ending December 31, (in millions) 2016 $ 3.2 2017 3.6 2018 3.7 2019 3.8 2020 3.9 After 2020 37.2 Total minimum lease payments 55.4 Less: amount representing interest (18.2 ) Present value of minimum lease payments at December 31, 2015 $ 37.2 |
Wexpro and Wexpro II Agreemen39
Wexpro and Wexpro II Agreements and Stipulations (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Wexpro Agreement [Abstract] | |
Net investment base, yearly average rate of return and oil and NGL income sharing | Wexpro's net investment base, yearly average rate of return, and oil and NGL income shared with Questar Gas are shown in the table below: Year Ended December 31, 2015 2014 2013 Wexpro net investment base at December 31, (in millions) $ 642.9 $ 649.0 $ 589.7 Average annual rate of return (after tax) 17.5 % 17.9 % 19.7 % Oil and NGL income sharing (in millions) $ — $ — $ 0.6 |
Rate Regulation (Tables)
Rate Regulation (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Regulated Operations [Abstract] | |
Details of regulatory assets and liabilities | The following table details regulatory assets and liabilities: December 31, 2015 December 31, 2014 Current Noncurrent Current Noncurrent (in millions) Regulatory assets: Questar Gas Purchased-gas adjustment $ 18.9 $ — $ 39.2 $ — Energy-efficiency program 1.1 — — — Contract withholding 20.3 — 13.6 — Deferred cost-of-service gas charges 19.5 8.1 25.5 9.3 Cost of reacquired debt — 3.8 — 4.3 Pipeline integrity costs 6.3 — — 7.7 Conservation Enabling Tariff 3.6 — — — Other 0.1 — — — Total Questar Gas regulatory assets 69.8 11.9 78.3 21.3 Questar Pipeline Gas imbalance — — 1.2 — Revenue sharing 0.2 — 0.1 — Cost of reacquired debt — 1.8 — 2.2 Income taxes recoverable from customers — — — 0.3 Other — 1.2 — 1.2 Total Questar Pipeline regulatory assets 0.2 3.0 1.3 3.7 Total regulatory assets $ 70.0 $ 14.9 $ 79.6 $ 25.0 Regulatory liabilities: Questar Gas Energy-efficiency program — — 0.3 — Conservation Enabling Tariff — — 12.1 — Cost of plant removal 3.7 65.5 — 60.7 Income taxes refundable to customers — 0.1 — 0.2 Other 0.3 — 0.1 — Total Questar Gas regulatory liabilities 4.0 65.6 12.5 60.9 Questar Pipeline Gas imbalance 2.3 — 0.8 — Revenue sharing 0.1 — 0.1 — Postretirement medical — 10.0 — 9.0 Total Questar Pipeline regulatory liabilities 2.4 10.0 0.9 9.0 Total regulatory liabilities $ 6.4 $ 75.6 $ 13.4 $ 69.9 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Transactions involving stock options under the terms of the LTSIP | Stock option transactions and balances under the terms of the LTSIP are summarized below: Options Outstanding Exercise Price Range Weighted-Average Exercise Price Balance at December 31, 2014 435,507 $ 11.40 - $ 17.35 $ 12.46 Exercised (178,112 ) 11.40 - 13.10 11.47 Balance at December 31, 2015 257,395 $ 11.40 - $ 17.35 $ 13.14 |
Options held under the LTSIP, by exercise price range | Options Outstanding Options Exercisable Range of exercise prices Number outstanding at Dec. 31, 2015 Weighted-average remaining term in years Weighted-average exercise price Number exercisable at Dec. 31, 2015 Weighted-average exercise price $ 11.40 $ 17.35 257,395 0.8 $ 13.14 257,395 $ 13.14 |
Transactions involving restricted shares and RSUs under the terms of the LTSIP | Transactions involving RSUs under the terms of the LTSIP for the year ended December 31, 2015 , are summarized below: RSUs Outstanding Price Range Weighted-Average Price Balance at December 31, 2014 526,102 $ 22.14 - $ 24.70 $ 23.60 Granted 351,282 23.70 - 25.07 24.38 Vested (294,515 ) 22.14 - 25.07 23.68 Forfeited (32,467 ) 22.17 - 24.41 24.32 Balance at December 31, 2015 550,402 $ 22.52 - $ 25.07 $ 24.01 Transactions involving restricted shares under the terms of the LTSIP for the year ended December 31, 2015 , are summarized below: Restricted Shares Outstanding Price Range Weighted- Average Price Balance at December 31, 2014 102,354 $ 19.39 - $ 21.53 $ 19.41 Vested (102,135 ) 19.39 - 21.53 19.40 Balance at December 31, 2015 219 $ 21.53 - $ 21.53 $ 21.53 |
Calculated fair value of performance shares granted and major assumptions used in the Monte Carlo simulation | The estimated fair value of performance shares granted and major assumptions used in the simulation at the date of grant are listed below: 2015 2014 2013 Performance Share Input Variables Fair value of performance shares at grant date $ 21.03 $ 31.07 $ 39.62 Risk-free interest rate 0.95 % 0.67 % 0.40 % Expected price volatility 16.1 % 18.6 % 19.0 % Expected dividend yield 3.11 % 3.05 % 2.88 % Expected life in years 2.9 2.9 2.9 |
Transactions involving performance shares under the terms of the LTSIP | Transactions involving performance shares under the terms of the LTSIP for the year ended December 31, 2015 , are summarized below: Target Number of Performance Shares Outstanding Grant-Date Fair Value Range Weighted-Average Grant-Date Fair Value Balance at December 31, 2014 391,249 $ 25.42 - $ 39.62 $ 31.78 Granted 160,302 19.03 - 21.03 20.82 Distributed (1) (134,778 ) 25.42 25.42 25.42 Forfeited (73,025 ) 21.03 - 39.62 26.11 Balance at December 31, 2015 (2),(3) 343,748 $ 19.03 - $ 39.62 $ 30.37 (1) Actual shares and cash distributed were determined by multiplying the target shares by 1.00 to reflect Questar's final total shareholder return ranking relative to the specified peer companies for the performance period from January 1, 2012 through December 31, 2014 . The total amount paid for the cash half of the distribution was $1.7 million . (2) The total undistributed balance consists of 286,211 of share-settled target shares and 57,537 of cash-settled target shares. (3) The total undistributed balance includes 115,074 vested target shares that are expected to be distributed in the first quarter of 2016 using a payout adjustment multiplier of 0.32 . The multiplier reflects Questar's final total shareholder return ranking relative to the specified peer companies for the performance period from January 1, 2013 through December 31, 2015 . The distribution will be half in shares, half in cash. These target shares are included in the amounts described in note (2), immediately above. |
Questar Pipeline and Questar Gas [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Options held under the LTSIP, by exercise price range | The following table summarizes the stock options held under the LTSIP by Questar Pipeline officers and employees at December 31, 2015 . There were no stock options held under the LTSIP by Questar Gas officers or employees at December 31, 2015 . Options Outstanding Options Exercisable Range of exercise prices Number outstanding at Dec. 31, 2015 Weighted-average remaining term in years Weighted-average exercise price Number exercisable at Dec. 31, 2015 Weighted-average exercise price Questar Pipeline $ 11.40 - $ 13.10 47,995 0.5 $ 11.98 47,995 $ 11.98 |
Transactions involving restricted shares and RSUs under the terms of the LTSIP | There were no restricted shares held under the LTSIP by Questar Gas and Questar Pipeline officers and employees at December 31, 2015 . The following table summarizes the RSUs held under the LTSIP by Questar Gas and Questar Pipeline officers and employees at December 31, 2015 . The weighted-average remaining vesting periods of unvested RSUs at December 31, 2015 , for Questar Gas and Questar Pipeline were 10 months and 11 months , respectively. RSUs Outstanding Price Range Weighted-Average Price Questar Gas 97,209 $ 23.09 - $ 24.41 $ 24.01 Questar Pipeline 126,744 $ 23.09 - $ 24.41 $ 23.95 |
Transactions involving performance shares under the terms of the LTSIP | The following table summarizes the target number of performance shares held under the LTSIP by Questar Gas and Questar Pipeline officers at December 31, 2015 . The weighted-average remaining vesting periods of unvested performance shares at December 31, 2015 , for Questar Gas and Questar Pipeline were 18 months and 23 months . Target Number of Performance Shares Outstanding Grant-Date Fair Value Range Weighted-Average Grant-Date Fair Value Questar Gas 33,578 $ 21.03 - $ 39.62 $ 30.23 Questar Pipeline 47,454 $ 19.03 - $ 39.62 $ 28.43 |
Employee Benefits (Tables)
Employee Benefits (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Schedule of pension and other postretirement benefit plan asset allocation | Qualified pension and other postretirement benefit plan assets were invested as follows: Actual Allocation Policy Range December 31, December 31, 2015 2014 2015 2014 Total domestic equity securities 36 % 38 % 35 % - 45 % 35 % - 45 % Foreign equity securities Developed market foreign equity securities 20 % 18 % Emerging market foreign equity securities 4 % 4 % Total foreign securities 24 % 22 % 25 % - 35 % 25 % - 35 % Debt securities Investment-grade intermediate-term debt 5 % 7 % Investment-grade long-term debt 15 % 14 % Below-investment-grade debt 10 % 9 % Total debt securities 30 % 30 % 25 % - 35 % 25 % - 35 % Inflation protection securities 10 % 9 % — % - 10 % — % - 10 % Cash and short-term investments — % 1 % — % - 3 % — % - 3 % |
Pension and postretirement benefit assets fair value by level | The following tables set forth, by level within the fair value hierarchy, qualified pension and other postretirement benefit plan assets at fair value as of December 31, 2015 and 2014 : December 31, 2015 Level 1 Level 2 Total (in millions) Corporate bonds $ — $ 14.1 $ 14.1 Registered investment companies: Fixed income funds 88.9 — 88.9 Inflation protection fund 35.6 — 35.6 Domestic equity fund 0.6 — 0.6 Commingled funds* 519.0 Foreign equity growth 103-12 investment entity* 47.0 Total $ 125.1 $ 14.1 $ 705.2 December 31, 2014 Level 1 Level 2 Total (in millions) Corporate bonds $ — $ 1.5 $ 1.5 U.S. government securities — 12.9 12.9 Registered investment companies: Fixed income funds 114.9 — 114.9 Inflation protection fund 34.5 — 34.5 Domestic equity fund 1.6 — 1.6 Commingled funds* 525.6 Foreign equity growth 103-12 investment entity* 46.2 Total $ 151.0 $ 14.4 $ 737.2 |
Assumptions used to calculate benefit obligations | The qualified pension projected benefit obligation was measured using the following assumptions at December 31: 2015 2014 Discount rate 4.50 % 4.10 % Rate of increase in compensation 5.50 5.50 Long-term return on assets 7.00 7.00 The nonqualified pension projected benefit obligation was measured using the following assumptions at December 31: 2015 2014 Discount rate 3.10 % 2.90 % Rate of increase in compensation 5.50 5.50 The postretirement accumulated benefit obligation was measured using the following assumptions at December 31: 2015 2014 Discount rate 4.30 % 4.00 % Long-term return on assets 7.00 7.00 Health-care inflation rate 7.00 7.50 decreasing to decreasing to 4.50 % by 2021 4.50 % by 2021 |
Changes in benefit obligation, changes in fair value of plan assets, and underfunded status | Plan obligations and fair value of all plan assets are shown in the following table: Pension Other Postretirement Benefits Year Ended December 31, Year Ended December 31, 2015 2014 2015 2014 (in millions) Change in benefit obligation Benefit obligation at beginning of year $ 834.0 $ 702.7 $ 90.8 $ 86.3 Service cost 13.8 11.8 0.6 0.6 Interest cost 32.7 33.4 3.5 3.8 Plan and assumption changes (53.7 ) 109.1 (4.4 ) 4.9 Actuarial (gain) loss 7.0 (0.7 ) (1.6 ) (3.0 ) Benefits paid (73.8 ) (22.3 ) (2.9 ) (1.8 ) Benefit obligation at end of year 760.0 834.0 86.0 90.8 Change in plan assets Fair value of plan assets at beginning of year 690.2 628.2 47.0 43.8 Actual gain (loss) on plan assets (15.0 ) 40.4 (0.9 ) 2.9 Company contributions to the plan 71.8 43.9 0.9 2.1 Benefits paid (73.8 ) (22.3 ) (2.9 ) (1.8 ) Fair value of plan assets at end of year 673.2 690.2 44.1 47.0 Underfunded status (current and long-term) $ (86.8 ) $ (143.8 ) $ (41.9 ) $ (43.8 ) |
Estimated benefit plan payments for the next five years and the subsequent five years aggregated | Estimated benefit plan payments for the five years following 2015 and the subsequent five years aggregated are as follows: Pension Other Postretirement Benefits Years Ending December 31, (in millions) 2016 $ 50.5 $ 4.5 2017 50.1 4.5 2018 63.6 4.7 2019 52.9 4.8 2020 52.8 5.0 2021 through 2025 264.1 25.9 |
Net pension and other postretirement benefit cost components | The components of the net pension and other postretirement benefit costs are as follows. The net pension cost includes both the qualified and nonqualified pension plans. Pension Other Postretirement Benefits Year Ended December 31, Year Ended December 31, 2015 2014 2013 2015 2014 2013 (in millions) Service cost $ 13.8 $ 11.8 $ 13.9 $ 0.6 $ 0.6 $ 0.7 Interest cost 32.7 33.4 30.6 3.5 3.8 3.7 Expected return on plan assets (47.7 ) (43.6 ) (38.1 ) (3.2 ) (3.0 ) (2.6 ) Prior service and other costs 0.1 0.6 1.1 — — — Recognized net actuarial loss 21.9 15.4 28.9 1.2 0.7 3.0 Pension settlement costs 16.7 — — — — — Accretion of regulatory liability — — — 1.0 0.8 0.5 Net periodic cost $ 37.5 $ 17.6 $ 36.4 $ 3.1 $ 2.9 $ 5.3 |
Assumptions used to calculate net benefit costs | Assumptions at January 1 , used to calculate the qualified net pension cost for the years, were as follows: 2015 2014 2013 Discount rate 4.10 % 4.90 % 4.20 % Rate of increase in compensation 5.50 5.50 5.50 Long-term return on assets 7.00 7.25 7.25 Assumptions at January 1 , used to calculate the nonqualified net pension cost for the years, were as follows: 2015 2014 2013 Discount rate 2.90 % 3.30 % 2.40 % Rate of increase in compensation 5.50 5.50 5.50 Assumptions at January 1 , used to calculate the net postretirement benefit cost for the years, were as follows: 2015 2014 2013 Discount rate 4.00 % 4.70 % 4.00 % Long-term return on assets 7.00 7.25 7.25 Health-care inflation rate 7.50 8.00 8.50 decreasing to decreasing to decreasing to 4.50 % by 2021 4.50 % by 2021 4.50 % by 2021 |
Subsidiary net cost and contribution information | Pension and other postretirement benefit net cost and plan contribution information for Questar Gas and Questar Pipeline are shown below: Pension Other Postretirement Benefits Year Ended December 31, Year Ended December 31, 2015 2014 2013 2015 2014 2013 (in millions) Questar Gas Net periodic cost $ 10.4 $ 8.5 $ 18.1 $ 0.9 $ 0.8 $ 2.4 Share of total plan contributions 34.9 21.8 29.6 0.5 1.1 2.0 Questar Pipeline Net periodic cost $ 3.8 $ 3.2 $ 6.7 $ (0.3 ) $ (0.4 ) $ 0.2 Share of total plan contributions 13.4 8.1 11.2 0.1 0.4 0.7 |
Operations by Line of Busines43
Operations by Line of Business (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Summary of operations by line of business | The following is a summary of operations by line of business for the three years ended December 31, 2015 : Questar Consol. Interco. Trans. Questar Gas Wexpro Questar Pipeline Corp and Other (in millions) 2015 Revenues From unaffiliated customers $ 1,134.9 $ — $ 917.6 $ 22.9 $ 187.9 $ 6.5 From affiliated companies — (394.2 ) — 319.1 75.1 — Total Revenues 1,134.9 (394.2 ) 917.6 342.0 263.0 6.5 Operating Expenses Cost of sales 175.2 (393.5 ) 558.1 — 8.9 1.7 Operating and maintenance 181.6 — 111.9 29.6 37.6 2.5 General and administrative 109.0 (0.7 ) 50.6 33.5 38.9 (13.3 ) Pension settlement costs 16.7 — — — — 16.7 Production and other taxes 51.3 — 19.3 21.2 8.8 2.0 Depreciation, depletion and amortization 216.0 — 55.1 99.4 54.6 6.9 Abandonment and impairment 12.5 — — 12.5 — — Total Operating Expenses 762.3 (394.2 ) 795.0 196.2 148.8 16.5 Net gain from asset sales 1.8 — — 1.6 0.2 — Operating Income (Loss) 374.4 — 122.6 147.4 114.4 (10.0 ) Interest and other income (expense) 4.2 (1.0 ) 4.8 0.9 0.9 (1.4 ) Income from unconsolidated affiliate 3.7 — — — 3.7 — Interest expense (63.0 ) 1.0 (28.3 ) (0.2 ) (26.0 ) (9.5 ) Income taxes (110.6 ) — (34.8 ) (49.2 ) (33.4 ) 6.8 Net Income (Loss) $ 208.7 $ — $ 64.3 $ 98.9 $ 59.6 $ (14.1 ) Identifiable assets 4,377.8 — 2,126.8 920.6 1,227.3 103.1 Goodwill 9.8 — 5.6 — 4.2 — Investment in unconsolidated affiliate 23.9 — — — 23.9 Cash capital expenditures, including acquisitions 330.4 — 228.8 46.4 40.6 14.6 Accrued capital expenditures, including acquisitions 328.0 — 232.6 42.9 39.5 13.0 2014 Revenues From unaffiliated customers $ 1,189.3 $ — $ 960.9 $ 35.6 $ 190.2 $ 2.6 From affiliated companies — (424.0 ) — 350.3 73.7 — Total Revenues 1,189.3 (424.0 ) 960.9 385.9 263.9 2.6 Operating Expenses Cost of sales 186.3 (423.4 ) 604.8 — 4.0 0.9 Operating and maintenance 194.2 — 122.5 31.5 39.3 0.9 General and administrative 122.7 (0.6 ) 52.8 32.6 38.9 (1.0 ) Production and other taxes 66.2 — 17.8 37.6 9.1 1.7 Depreciation, depletion and amortization 213.7 — 53.6 100.5 54.5 5.1 Asset impairment 2.0 — — 2.0 — — Total Operating Expenses 785.1 (424.0 ) 851.5 204.2 145.8 7.6 Net gain (loss) from asset sales 1.2 — 0.1 1.6 (0.5 ) — Operating Income (Loss) 405.4 — 109.5 183.3 117.6 (5.0 ) Interest and other income (expense) 6.6 (0.4 ) 5.9 1.1 1.2 (1.2 ) Income from unconsolidated affiliate 3.5 — — — 3.5 — Interest expense (63.1 ) 0.4 (28.2 ) (0.1 ) (26.1 ) (9.1 ) Income taxes (125.9 ) — (32.0 ) (61.5 ) (35.6 ) 3.2 Net Income (Loss) $ 226.5 $ — $ 55.2 $ 122.8 $ 60.6 $ (12.1 ) Identifiable assets $ 4,243.9 $ — $ 1,917.4 $ 970.6 $ 1,230.5 $ 125.4 Goodwill 9.8 — 5.6 — 4.2 — Investment in unconsolidated affiliate 24.7 — — — 24.7 — Cash capital expenditures, including acquisitions 371.5 — 174.7 114.4 59.4 23.0 Accrued capital expenditures, including acquisitions 359.7 — 161.5 114.7 61.3 22.2 2013 Revenues From unaffiliated customers $ 1,220.0 $ — $ 985.2 $ 45.1 $ 189.5 $ 0.2 From affiliated companies — (372.1 ) 0.6 294.8 76.7 — Total Revenues 1,220.0 (372.1 ) 985.8 339.9 266.2 0.2 Operating Expenses Cost of sales 285.9 (370.9 ) 650.6 — 6.1 0.1 Operating and maintenance 179.4 — 113.1 28.6 37.6 0.1 General and administrative 115.9 (0.6 ) 52.5 28.7 41.6 (6.3 ) Production and other taxes 57.4 — 18.0 28.3 9.3 1.8 Depreciation, depletion and amortization 194.8 — 49.7 85.8 55.5 3.8 Asset impairment 80.6 — — — 80.6 — Other operating expenses — (0.6 ) — 0.6 — — Total Operating Expenses 914.0 (372.1 ) 883.9 172.0 230.7 (0.5 ) Net loss from asset sales (0.2 ) — — (0.2 ) — — Operating Income 305.8 — 101.9 167.7 35.5 0.7 Interest and other income (expense) 9.9 (0.7 ) 5.1 5.0 1.8 (1.3 ) Income from unconsolidated affiliate 3.7 — — — 3.7 — Interest expense (56.9 ) 0.7 (22.3 ) (0.1 ) (25.8 ) (9.4 ) Income taxes (101.3 ) — (31.9 ) (62.0 ) (7.0 ) (0.4 ) Net Income (Loss) $ 161.2 $ — $ 52.8 $ 110.6 $ 8.2 $ (10.4 ) Identifiable assets $ 4,044.6 $ — $ 1,759.1 $ 988.3 $ 1,221.0 $ 76.2 Goodwill 9.8 — 5.6 — 4.2 — Investment in unconsolidated affiliate 25.6 — — — 25.6 — Cash capital expenditures 503.7 — 166.2 249.5 73.4 14.6 Accrued capital expenditures 505.6 — 177.3 240.7 70.0 17.6 |
Quarterly Financial Informati44
Quarterly Financial Information - Unaudited (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Selected Quarterly Financial Information [Abstract] | |
Summary of unaudited quarterly financial information | Following is a summary of unaudited quarterly financial information: First Quarter Second Quarter Third Quarter Fourth Quarter Year (in millions, except per-share amounts) 2015 Revenues $ 428.6 $ 199.3 $ 142.3 $ 364.7 $ 1,134.9 Operating income 147.0 75.3 62.3 89.8 374.4 Net income 84.6 40.6 32.6 50.9 208.7 Asset impairment charge, before income taxes — — — 12.1 12.1 Pension settlement costs, before income taxes — — — 16.7 16.7 Basic earnings per common share $ 0.48 $ 0.23 $ 0.18 $ 0.29 $ 1.18 Diluted earnings per common share 0.48 0.23 0.18 0.29 1.18 2014 Revenues $ 456.9 $ 201.3 $ 157.9 $ 373.2 $ 1,189.3 Operating income 148.3 76.5 68.9 111.7 405.4 Net income 85.1 40.3 38.6 62.5 226.5 Basic earnings per common share $ 0.48 $ 0.23 $ 0.22 $ 0.36 $ 1.29 Diluted earnings per common share 0.48 0.23 0.22 0.35 1.29 |
Supplemental Gas and Oil Info45
Supplemental Gas and Oil Information - Unaudited (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Extractive Industries [Abstract] | |
Capitalized costs of cost-of-service gas and oil properties net of the related accumulated depreciation and amortization | Capitalized costs of gas and oil properties and the related amounts of accumulated depreciation, depletion and amortization are shown below: December 31, 2015 2014 (in millions) Wexpro Proved properties $ 1,649.2 $ 1,675.6 Unproved properties 5.2 12.8 Total Wexpro capitalized costs 1,654.4 1,688.4 Accumulated depreciation, depletion and amortization (789.9 ) (757.3 ) Net Wexpro capitalized costs 864.5 931.1 Net Questar Gas capitalized costs 5.8 6.4 Net capitalized costs $ 870.3 $ 937.5 |
Cost incurred for cost-of-service gas and oil development activities | The costs incurred for gas and oil development activities are displayed in the table below. The costs incurred to develop proved undeveloped reserves were $22.5 million in 2015 , $28.9 million in 2014 and $106.3 million in 2013 . Year Ended December 31, 2015 2014 2013 (in millions) Property acquisition Unproved $ 4.8 $ 11.9 $ 0.3 Proved 13.8 54.1 106.4 Exploration (capitalized and expensed) 0.7 1.6 — Development 27.7 49.1 133.1 Total costs incurred $ 47.0 $ 116.7 $ 239.8 |
Results of operations for cost-of-service gas- and oil-producing activities, before corporate overhead and interest expenses | Following are the results of operations for gas- and oil-producing activities, excluding corporate overhead and interest costs: Year Ended December 31, 2015 2014 2013 (in millions) Revenues From unaffiliated customers $ 22.9 $ 35.6 $ 45.1 From affiliated company (1) 319.1 350.3 294.8 Total revenues 342.0 385.9 339.9 Production costs 50.1 67.5 57.5 Exploration expenses 0.7 1.6 — Depreciation, depletion and amortization 99.4 100.5 85.8 Abandonment and impairment 12.5 2.0 — Total expenses 162.7 171.6 143.3 Revenues less expenses 179.3 214.3 196.6 Income taxes (59.6 ) (71.4 ) (70.5 ) Results of operations for gas- and oil-producing activities (excluding corporate overhead and interest costs) $ 119.7 $ 142.9 $ 126.1 (1) Primarily represents revenues received from Questar Gas pursuant to the Wexpro agreements. Revenues include reimbursement of general and administrative expenses amounting to $28.9 million in 2015 , $30.5 million in 2014 and $27.5 million in 2013 . |
Estimated quantities of cost-of-service proved gas and oil reserves | Estimated quantities of proved gas and oil reserves are set forth below: Natural Gas Oil and NGL Natural Gas Equivalents (Bcf) (Mbbl) (Bcfe) Proved Reserves Balances at December 31, 2012 697.2 6,169 734.2 Revisions of previous estimates (112.8 ) (1,348 ) (120.8 ) Extensions and discoveries 153.5 857 158.6 Purchase of reserves in place 133.9 556 137.2 Production (60.6 ) (617 ) (64.3 ) Balances at December 31, 2013 811.2 5,617 844.9 Revisions of previous estimates (220.2 ) (442 ) (222.7 ) Extensions and discoveries 4.0 205 5.2 Purchase of reserves in place 35.9 157 36.8 Sale of reserves in place (0.5 ) (219 ) (1.9 ) Production (64.3 ) (587 ) (67.8 ) Balances at December 31, 2014 566.1 4,731 594.5 Revisions of previous estimates (58.7 ) (1,424 ) (67.2 ) Extensions and discoveries 79.7 320 81.6 Purchase of reserves in place 10.8 29 11.0 Sale of reserves in place (3.2 ) — (3.2 ) Production (62.1 ) (464 ) (64.9 ) Balances at December 31, 2015 532.6 3,192 551.8 Proved Developed Reserves Balances at December 31, 2012 523.9 4,967 553.7 Balances at December 31, 2013 560.0 4,384 586.3 Balances at December 31, 2014 552.9 4,678 581.0 Balances at December 31, 2015 453.3 2,885 470.7 Proved Undeveloped Reserves Balances at December 31, 2012 173.3 1,202 180.5 Balances at December 31, 2013 251.2 1,233 258.6 Balances at December 31, 2014 13.2 53 13.5 Balances at December 31, 2015 79.3 307 81.1 |
Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves Disclosure [Table Text Block] | The standardized measure of future net cash flows relating to non-cost-of-service proved reserves is presented in the table below: December 31, December 31, 2015 2014 (in millions) (in millions) Future cash inflows $ 29.5 $ 190.7 Future production costs (15.7 ) (65.9 ) Future income tax expenses (4.8 ) (43.7 ) Future net cash flows 9.0 81.1 10% annual discount for estimated timing of net cash flows (3.6 ) (34.4 ) Standardized measure of discounted future net cash flows $ 5.4 $ 46.7 |
Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows [Table Text Block] | The principal sources of change in the standardized measure of future net cash flows relating to non-cost-of-service proved reserves are presented in the table below: Year Ended December 31, Year Ended December 31, 2015 2014 (in millions) (in millions) Balance at beginning of year $ 46.7 $ — Net increase due to purchases of reserves in place 6.0 46.8 Transfer to cost-of-service properties (25.9 ) — Sales of gas and oil produced during the period, net of production costs (8.4 ) (1.5 ) Net change in prices and production costs related to future production (31.0 ) 0.8 Net change due to revisions of quantity estimates (0.4 ) — Accretion of discount 6.7 0.6 Net change in income taxes 11.7 — Net Change (41.3 ) 46.7 Balance at end of year $ 5.4 $ 46.7 |
Summary of Significant Accoun46
Summary of Significant Accounting Policies (Details) | 3 Months Ended | 12 Months Ended | |||||||
Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Jun. 30, 2014USD ($) | Sep. 30, 2013USD ($) | Dec. 31, 2015USD ($)lines_of_businessbbl | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Nature of Business [Abstract] | |||||||||
Number Of Business Lines | lines_of_business | 3 | ||||||||
Revenue Recognition [Abstract] | |||||||||
Percentage of operating income retained by Wexpro after expenses (in hundredths) | 46.00% | 46.00% | |||||||
Cost of Sales [Abstract] | |||||||||
Other cost of sales | $ 1,700,000 | $ 900,000 | $ 100,000 | ||||||
Total cost of sales | 175,200,000 | 186,300,000 | 285,900,000 | ||||||
Derivative Assets (Liabilities), at Fair Value, Net | $ 200,000 | $ 200,000 | 0 | ||||||
Cash and Cash Equivalents [Abstract] | |||||||||
Cash equivalent maturity maximum (months) | 3 months | ||||||||
Depreciation, depletion and amortization [Abstract] | |||||||||
Barrel of oil conversion to 6,000 cubic feet of natural gas | bbl | 1 | ||||||||
Impairment of Long-Lived Assets [Abstract] | |||||||||
Abandonment and impairment | $ 12,500,000 | 2,000,000 | 80,600,000 | ||||||
Capitalized Interest and Allowance for Funds Used During Construction [Abstract] | |||||||||
AFUDC (recorded as an increase in interest and other income) | 1,200,000 | 2,800,000 | 6,300,000 | ||||||
Capitalized interest costs (recorded as a reduction of interest expense) | 300,000 | 1,000,000 | 800,000 | ||||||
Credit Risk [Abstract] | |||||||||
Bad debt expense | 2,100,000 | 1,700,000 | 200,000 | ||||||
Allowance for bad debts | 2,100,000 | 2,100,000 | 1,700,000 | ||||||
Income Taxes [Abstract] | |||||||||
Unrecognized tax benefits | $ 0 | $ 0 | $ 0 | $ 0 | |||||
Percent of capital expenditures deductible for federal income tax purposes under current statutes (in hundredths) | 50.00% | 50.00% | |||||||
Questar Gas [Member] | |||||||||
Revenue Recognition [Abstract] | |||||||||
Rate Adjustment Time Period | 6 months | ||||||||
Deferred CET adjustments amortization period | 12 months | ||||||||
Rate adjustment limitation as a percent of non-gas revenues (In hundredths) | 5.00% | 5.00% | |||||||
Cost of Sales [Abstract] | |||||||||
Gas purchases | $ 82,500,000 | $ 136,500,000 | $ 186,600,000 | ||||||
Operator service fee | 319,000,000 | 349,700,000 | 294,600,000 | ||||||
Transportation and storage | 79,200,000 | 79,600,000 | 80,100,000 | ||||||
Gathering | 22,100,000 | 21,000,000 | 18,800,000 | ||||||
Royalties | 33,300,000 | 60,100,000 | 44,300,000 | ||||||
Storage (injection),net | (3,500,000) | (1,100,000) | (800,000) | ||||||
Purchased-gas account adjustment | 20,500,000 | (45,800,000) | 22,000,000 | ||||||
Other | 5,000,000 | 4,800,000 | 5,000,000 | ||||||
Total cost of natural gas sold (excluding operating expenses shown separately) / Total Questar Gas cost of natural gas sold | 558,100,000 | 604,800,000 | 650,600,000 | ||||||
Elimination of Questar Gas cost of natural gas sold - affiliated companies | (393,500,000) | (423,400,000) | (370,900,000) | ||||||
Total Questar Gas cost of natural gas sold - unaffiliated parties | $ 164,600,000 | $ 181,400,000 | $ 279,700,000 | ||||||
Contributions in aid of construction [Abstract] | |||||||||
Time period contributions are refundable if other customers pay to connect to the line (in years) | 5 years | ||||||||
Time period if no other customers connect to the line the funds are not refundable (in years) | 5 years | ||||||||
Depreciation, depletion and amortization [Abstract] | |||||||||
Questar Gas distribution plant | 2.60% | 2.70% | 2.70% | ||||||
Capitalized Interest and Allowance for Funds Used During Construction [Abstract] | |||||||||
AFUDC (recorded as an increase in interest and other income) | $ 0 | $ 900,000 | $ 0 | ||||||
Capitalized interest costs (recorded as a reduction of interest expense) | $ 100,000 | 500,000 | 200,000 | ||||||
Credit Risk [Abstract] | |||||||||
Time period in months uncollected accounts are written off | 6 months | ||||||||
Wexpro [Member] | |||||||||
Depreciation, depletion and amortization [Abstract] | |||||||||
Cost-of-service gas and oil properties, per Mcfe | $ 1.83 | 1.75 | 1.56 | ||||||
Impairment of Long-Lived Assets [Abstract] | |||||||||
Abandonment and impairment | $ 12,100,000 | $ 0 | $ 0 | $ 0 | 12,100,000 | ||||
Capitalized Interest and Allowance for Funds Used During Construction [Abstract] | |||||||||
AFUDC (recorded as an increase in interest and other income) | $ 600,000 | 800,000 | 4,600,000 | ||||||
Wexpro Brady Field [Member] | |||||||||
Impairment of Long-Lived Assets [Abstract] | |||||||||
Abandonment and impairment | $ 2,000,000 | ||||||||
Questar Pipeline [Member] | |||||||||
Investment in Unconsolidated Affiliate [Abstract] | |||||||||
Ownership percentage in unconsolidated affiliate (in hundredths) | 50.00% | 50.00% | |||||||
Cost of Sales [Abstract] | |||||||||
Total Questar Pipeline cost of sales | $ 8,900,000 | $ 4,000,000 | $ 6,100,000 | ||||||
Depreciation, depletion and amortization [Abstract] | |||||||||
Questar Pipeline transportation, storage and other energy services | 3.20% | 3.20% | 3.40% | ||||||
Impairment of Long-Lived Assets [Abstract] | |||||||||
Abandonment and impairment | $ 80,600,000 | $ 0 | $ 0 | $ 80,600,000 | |||||
Capitalized Interest and Allowance for Funds Used During Construction [Abstract] | |||||||||
AFUDC (recorded as an increase in interest and other income) | 600,000 | 1,100,000 | 1,700,000 | ||||||
Capitalized interest costs (recorded as a reduction of interest expense) | 200,000 | $ 500,000 | $ 600,000 | ||||||
Income Taxes [Abstract] | |||||||||
Property, Plant, and Equipment, Fair Value Disclosure | $ 24,000,000 | $ 24,000,000 | |||||||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Wexpro [Member] | |||||||||
Income Taxes [Abstract] | |||||||||
Property, Plant, and Equipment, Fair Value Disclosure | $ 0 | ||||||||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Questar Pipeline [Member] | |||||||||
Income Taxes [Abstract] | |||||||||
Property, Plant, and Equipment, Fair Value Disclosure | $ 0 |
Proposed Merger with Dominion47
Proposed Merger with Dominion Resources (Details) $ / shares in Units, $ in Millions | 12 Months Ended |
Dec. 31, 2015USD ($)$ / shares | |
Business Combinations [Abstract] | |
Business Acquisition, Date of Acquisition Agreement | Jan. 31, 2016 |
Business Acquisition, Share Price | $ / shares | $ 25 |
Maximum Extension to Merger Agreement | 9 months |
Business Acquisition, Acquirer Termination Fee | $ 154 |
Business Acquisition, Acquiree Termination Fee | $ 99 |
Alternative Transaction Period | 12 months |
BusinessAcquisitionAcquireeReimbursementFee | $ 5 |
Earnings Per Share (Details)
Earnings Per Share (Details) - shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Reconciliation of the components of basic and diluted shares in the EPS Calculation [Abstract] | |||
Weighted-average basic common shares outstanding | 176,100,000 | 175,800,000 | 175,400,000 |
Potential number of shares issuable under the Company's LTSIP | 200,000 | 300,000 | 600,000 |
Weighted-average diluted common shares outstanding | 176,300,000 | 176,100,000 | 176,000,000 |
Dividend Reinvestment and Stock Purchase Plan [Abstract] | |||
Shares issued | 0 | 0 | 0 |
Shares reserved for future issuance | 19,872,261 |
Accumulated Other Comprehensi49
Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Beginning balances | $ (201.3) | $ (141.8) | |||
OCI before reclassifications | 3.6 | (113.6) | |||
Reclassified from AOCI | [2] | 22.4 | [1] | 17.2 | |
Income taxes | |||||
Attributable to OCI before reclassifications | (1.3) | 43.4 | |||
Attributable to amounts reclassified from AOCI | [4] | (8.7) | [3] | (6.5) | |
Total income taxes | (10) | 36.9 | $ (64.7) | ||
Net other comprehensive income (loss) | 16 | (59.5) | 104.5 | ||
Ending balances | (185.3) | (201.3) | (141.8) | ||
Reclassification Adjustment out of Accumulated Other Comphrensive Income [Abstract] | |||||
Income tax (expense) benefit | (110.6) | (125.9) | (101.3) | ||
Income taxes allocated to each component of other comprehensive income (loss) [Abstract] | |||||
Total income taxes | (10) | 36.9 | (64.7) | ||
Gas Domestic Regulated Revenue Transmission | 187.9 | 190.2 | 189.5 | ||
Questar Pipeline [Member] | |||||
Income taxes allocated to each component of other comprehensive income (loss) [Abstract] | |||||
Gas Domestic Regulated Revenue Transmission Affiliated Companies | 0.4 | ||||
Gas Domestic Regulated Revenue Transmission | 1 | ||||
Pension Plans, Defined Benefit [Member] | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Beginning balances | (167.8) | (108.8) | |||
OCI before reclassifications | 0.6 | (111.5) | |||
Reclassified from AOCI | [2] | 22 | [1] | 16 | |
Income taxes | |||||
Attributable to OCI before reclassifications | (0.2) | 42.6 | |||
Attributable to amounts reclassified from AOCI | [4] | (8.4) | [3] | (6.1) | |
Total income taxes | (8.6) | 36.5 | |||
Net other comprehensive income (loss) | 14 | (59) | |||
Ending balances | (153.8) | (167.8) | (108.8) | ||
Income taxes allocated to each component of other comprehensive income (loss) [Abstract] | |||||
Total income taxes | (8.6) | 36.5 | |||
Actuarial Loss [Member] | Pension Plans, Defined Benefit [Member] | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Beginning balances | (167.8) | (108.4) | |||
OCI before reclassifications | 0.6 | (111.5) | |||
Reclassified from AOCI | [2] | 21.9 | [1] | 15.4 | |
Income taxes | |||||
Attributable to OCI before reclassifications | (0.2) | 42.6 | |||
Attributable to amounts reclassified from AOCI | [4] | (8.4) | [3] | (5.9) | |
Total income taxes | (8.6) | 36.7 | |||
Net other comprehensive income (loss) | 13.9 | (59.4) | |||
Ending balances | (153.9) | (167.8) | (108.4) | ||
Income taxes allocated to each component of other comprehensive income (loss) [Abstract] | |||||
Total income taxes | (8.6) | 36.7 | |||
Actuarial Loss [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Beginning balances | (11.1) | (10.2) | |||
OCI before reclassifications | 1.8 | (2.1) | |||
Reclassified from AOCI | [2] | 1.2 | [1] | 0.7 | |
Income taxes | |||||
Attributable to OCI before reclassifications | (0.7) | 0.8 | |||
Attributable to amounts reclassified from AOCI | [4] | (0.5) | [3] | (0.3) | |
Total income taxes | (1.2) | 0.5 | |||
Net other comprehensive income (loss) | 1.8 | (0.9) | |||
Ending balances | (9.3) | (11.1) | (10.2) | ||
Income taxes allocated to each component of other comprehensive income (loss) [Abstract] | |||||
Total income taxes | (1.2) | 0.5 | |||
Prior service cost [Member] | Pension Plans, Defined Benefit [Member] | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Beginning balances | 0 | (0.4) | |||
OCI before reclassifications | 0 | 0 | |||
Reclassified from AOCI | [2] | 0.1 | [1] | 0.6 | |
Income taxes | |||||
Attributable to OCI before reclassifications | 0 | 0 | |||
Attributable to amounts reclassified from AOCI | [4] | 0 | [3] | (0.2) | |
Total income taxes | 0 | (0.2) | |||
Net other comprehensive income (loss) | 0.1 | 0.4 | |||
Ending balances | 0.1 | 0 | (0.4) | ||
Income taxes allocated to each component of other comprehensive income (loss) [Abstract] | |||||
Total income taxes | 0 | (0.2) | |||
Long-term investment [Member] | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Beginning balances | 0.1 | 0.1 | |||
OCI before reclassifications | 0 | 0 | |||
Reclassified from AOCI | [2] | 0 | [1] | 0 | |
Income taxes | |||||
Attributable to OCI before reclassifications | 0 | 0 | |||
Attributable to amounts reclassified from AOCI | [4] | 0 | [3] | 0 | |
Total income taxes | 0 | 0 | |||
Net other comprehensive income (loss) | 0 | 0 | |||
Ending balances | 0.1 | 0.1 | 0.1 | ||
Income taxes allocated to each component of other comprehensive income (loss) [Abstract] | |||||
Total income taxes | 0 | 0 | |||
Questar Pipeline [Member] | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Beginning balances | (22.5) | ||||
Income taxes | |||||
Total income taxes | (0.2) | (0.1) | (0.2) | ||
Net other comprehensive income (loss) | 0.2 | 0.4 | 0.3 | ||
Ending balances | (22.3) | (22.5) | |||
Reclassification Adjustment out of Accumulated Other Comphrensive Income [Abstract] | |||||
Income tax (expense) benefit | (33.4) | (35.6) | (7) | ||
Income taxes allocated to each component of other comprehensive income (loss) [Abstract] | |||||
Total income taxes | (0.2) | (0.1) | (0.2) | ||
Gas Domestic Regulated Revenue Transmission Affiliated Companies | 75.1 | 73.7 | 76.7 | ||
Gas Domestic Regulated Revenue Transmission | 187.9 | 190.2 | 189.5 | ||
Questar Pipeline [Member] | Interest rate cash flow hedges [Member] | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Beginning balances | (22.5) | (22.9) | |||
OCI before reclassifications | 0 | 0 | |||
Reclassified from AOCI | [2] | 0.6 | [1] | 0.5 | |
Income taxes | |||||
Attributable to OCI before reclassifications | 0 | 0 | |||
Attributable to amounts reclassified from AOCI | [4] | (0.3) | [3] | (0.1) | |
Total income taxes | (0.3) | (0.1) | |||
Net other comprehensive income (loss) | 0.3 | 0.4 | |||
Ending balances | (22.2) | (22.5) | (22.9) | ||
Income taxes allocated to each component of other comprehensive income (loss) [Abstract] | |||||
Total income taxes | (0.3) | (0.1) | |||
Questar Pipeline [Member] | Interest rate cash flow hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
Reclassification Adjustment out of Accumulated Other Comphrensive Income [Abstract] | |||||
Interest income (expense) | (0.6) | (0.5) | |||
Income tax (expense) benefit | 0.3 | 0.1 | |||
Questar Pipeline [Member] | Commodity cash flow hedges [Member] | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||
Beginning balances | 0 | 0 | |||
OCI before reclassifications | 1.2 | 0 | |||
Reclassified from AOCI | [2] | (1.4) | [1] | 0 | |
Income taxes | |||||
Attributable to OCI before reclassifications | (0.4) | 0 | |||
Attributable to amounts reclassified from AOCI | [4] | 0.5 | [3] | 0 | |
Total income taxes | 0.1 | 0 | |||
Net other comprehensive income (loss) | (0.1) | 0 | |||
Ending balances | (0.1) | 0 | $ 0 | ||
Income taxes allocated to each component of other comprehensive income (loss) [Abstract] | |||||
Total income taxes | 0.1 | 0 | |||
Questar Pipeline [Member] | Commodity cash flow hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
Reclassification Adjustment out of Accumulated Other Comphrensive Income [Abstract] | |||||
Income tax (expense) benefit | (0.5) | 0 | |||
Income taxes allocated to each component of other comprehensive income (loss) [Abstract] | |||||
Gas Domestic Regulated Revenue Transmission | $ 1.4 | $ 0 | |||
[1] | Commodity cash flow hedge amounts are included in their entirety as an increase in Questar Pipeline revenue on the Consolidated Statements of Income. | ||||
[2] | Interest rate cash flow hedge amounts are included in their entirety as charges to interest expense on the Consolidated Statements of Income. | ||||
[3] | Income tax reclassifications related to commodity cash flow hedge amounts are included in their entirety as charges to income taxes on the Consolidated Statements of Income. | ||||
[4] | Income tax reclassifications related to interest rate cash flow hedge amounts are included in their entirety as credits to income taxes on the Consolidated Statements of Income. |
Asset Retirement Obligations (D
Asset Retirement Obligations (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
AROs at beginning of year | $ 69.3 | $ 67.7 |
Accretion | 3.3 | 3.4 |
Liabilities incurred | 1.9 | 3.3 |
Revisions in estimated cash flows | 1.8 | (2.7) |
Liabilities settled | (8.7) | (2.4) |
AROs at end of year | 67.6 | 69.3 |
Asset Retirement Obligations By Line Of Business [Abstract] | ||
AROs by line of business | 69.3 | 67.7 |
Questar Gas [Member] | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
AROs at beginning of year | 0.6 | |
AROs at end of year | 0.6 | 0.6 |
Asset Retirement Obligations By Line Of Business [Abstract] | ||
AROs by line of business | 0.6 | 0.6 |
Wexpro [Member] | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
AROs at beginning of year | 66.3 | |
AROs at end of year | 64.6 | 66.3 |
Asset Retirement Obligations By Line Of Business [Abstract] | ||
AROs by line of business | 66.3 | 66.3 |
Questar Pipeline [Member] | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
AROs at beginning of year | 2.3 | |
AROs at end of year | 2.3 | 2.3 |
Asset Retirement Obligations By Line Of Business [Abstract] | ||
AROs by line of business | 2.3 | 2.3 |
Questar Corp [Member] | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
AROs at beginning of year | 0.1 | |
AROs at end of year | 0.1 | 0.1 |
Asset Retirement Obligations By Line Of Business [Abstract] | ||
AROs by line of business | $ 0.1 | $ 0.1 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||
Abandonment and impairment | $ 12,500,000 | $ 2,000,000 | $ 80,600,000 | ||||||
Carrying Amount [Member] | |||||||||
Financial assets [Abstract] | |||||||||
Cash and cash equivalents | $ 25,000,000 | 25,000,000 | 32,000,000 | ||||||
Long-term investment | 14,100,000 | 14,100,000 | 15,700,000 | ||||||
Financial liabilities [Abstract] | |||||||||
Short-term debt | 457,600,000 | 457,600,000 | 347,000,000 | ||||||
Long-term debt, including current portion | 1,218,300,000 | 1,218,300,000 | 1,245,200,000 | ||||||
Estimated Fair Value [Member] | Level 1 [Member] | |||||||||
Financial assets [Abstract] | |||||||||
Cash and cash equivalents | 25,000,000 | 25,000,000 | 32,000,000 | ||||||
Financial liabilities [Abstract] | |||||||||
Short-term debt | 457,600,000 | 457,600,000 | 347,000,000 | ||||||
Estimated Fair Value [Member] | Level 2 [Member] | |||||||||
Financial liabilities [Abstract] | |||||||||
Long-term debt, including current portion | 1,263,700,000 | 1,263,700,000 | 1,356,100,000 | ||||||
Estimated Fair Value [Member] | Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | |||||||||
Financial assets [Abstract] | |||||||||
Long-term investment | 14,100,000 | 14,100,000 | 15,700,000 | ||||||
Questar Gas [Member] | Carrying Amount [Member] | |||||||||
Financial assets [Abstract] | |||||||||
Cash and cash equivalents | 10,500,000 | 10,500,000 | 19,800,000 | ||||||
Financial liabilities [Abstract] | |||||||||
Notes payable to Questar | 273,300,000 | 273,300,000 | 119,300,000 | ||||||
Long-term debt, including current portion | 534,500,000 | 534,500,000 | 534,500,000 | ||||||
Questar Gas [Member] | Estimated Fair Value [Member] | Level 1 [Member] | |||||||||
Financial assets [Abstract] | |||||||||
Cash and cash equivalents | 10,500,000 | 10,500,000 | 19,800,000 | ||||||
Financial liabilities [Abstract] | |||||||||
Notes payable to Questar | 273,300,000 | 273,300,000 | 119,300,000 | ||||||
Questar Gas [Member] | Estimated Fair Value [Member] | Level 2 [Member] | |||||||||
Financial liabilities [Abstract] | |||||||||
Long-term debt, including current portion | 568,400,000 | 568,400,000 | 607,200,000 | ||||||
Wexpro [Member] | |||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||
Abandonment and impairment | 12,100,000 | $ 0 | $ 0 | $ 0 | 12,100,000 | ||||
Wexpro [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] | |||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||
Abandonment and impairment | $ 80,600,000 | 0 | 0 | $ 80,600,000 | |||||
Financial liabilities [Abstract] | |||||||||
Property, Plant, and Equipment, Fair Value Disclosure | 24,000,000 | 24,000,000 | |||||||
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 | 10,200,000 | 10,200,000 | 7,400,000 | ||||||
Notes receivable from Questar | 6,000,000 | 6,000,000 | 40,100,000 | ||||||
Financial liabilities [Abstract] | |||||||||
Long-term debt, including current portion | 433,600,000 | 433,600,000 | 458,800,000 | ||||||
Questar Pipeline [Member] | Estimated Fair Value [Member] | Level 1 [Member] | |||||||||
Financial assets [Abstract] | |||||||||
Cash and cash equivalents | 10,200,000 | 10,200,000 | 7,400,000 | ||||||
Notes receivable from Questar | 6,000,000 | 6,000,000 | 40,100,000 | ||||||
Questar Pipeline [Member] | Estimated Fair Value [Member] | Level 2 [Member] | |||||||||
Financial liabilities [Abstract] | |||||||||
Long-term debt, including current portion | $ 445,200,000 | $ 445,200,000 | $ 495,500,000 |
Derivatives and Hedging (Detail
Derivatives and Hedging (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||
Mar. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2015 | Dec. 31, 2011 | Dec. 31, 2014 | Sep. 30, 2011 | Jun. 30, 2011 | |
Derivative [Line Items] | |||||||
Derivative assets or liabilities outstanding | $ 0.2 | $ 0 | |||||
Cash Flow Hedging [Member] | Questar Pipeline [Member] | Forward Starting Interest Rate Swaps Terminated Q4 2011 [Member] | |||||||
Derivative [Line Items] | |||||||
Notional amount | $ 150 | ||||||
Debt Instrument, Face Amount | $ 180 | $ 180 | |||||
Derivative, loss on derivative | $ 37.3 | ||||||
Life of long-term debt associated with cash flow hedges | 30 years | ||||||
Date through which reclassifications into earnings from AOCI will take place | 2,041 | ||||||
Pre-tax net losses expected to be reclassified from AOCI to earnings | $ 0.6 | ||||||
Reclassification from accumulated OCI to income, estimated time to transfer | 12 months | ||||||
Fair Value Hedging [Member] | Interest Rate Swap [Member] | |||||||
Derivative [Line Items] | |||||||
Notional amount | $ 125 | ||||||
Weighted-average fixed interest rate (in hundredths) | 2.75% | ||||||
Derivative, gain on derivative | $ 7.2 |
Debt Short-term Debt (Details)
Debt Short-term Debt (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2015 | |
Short-term Debt [Line Items] | ||
Commercial paper with various interest rates | $ 347 | $ 457.6 |
Revolving credit arrangement [Member] | ||
Short-term Debt [Line Items] | ||
Revolving credit facility credit commitments | $ 750 | 500 |
Line of Credit Facility, Maximum Borrowing Capacity 364-day | $ 250 | |
Revolving credit facility, maturity date | Apr. 19, 2018 | |
Consolidated funded debt percentage of consolidated capital permitted under credit facility amendment | 70.00% | |
Revolving credit facility, remaining borrowing capacity | $ 292.4 | |
Commercial paper [Member] | ||
Short-term Debt [Line Items] | ||
Commercial paper with various interest rates | $ 347 | $ 457.6 |
Weighted-average interest rate at end of year | 0.23% | 0.50% |
Questar Gas [Member] | ||
Short-term Debt [Line Items] | ||
Notes payable to parent | $ 119.3 | $ 273.3 |
Questar Gas [Member] | Notes payable to Questar [Member] | ||
Short-term Debt [Line Items] | ||
Weighted-average interest rate at end of year | 0.25% | 0.35% |
Notes payable to parent | $ 119.3 | $ 273.3 |
Questar Pipeline [Member] | Notes payable to Questar [Member] | ||
Short-term Debt [Line Items] | ||
Notes payable to parent | $ 0 | $ 0 |
Debt Long-term Debt (Details)
Debt Long-term Debt (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Debt Instrument [Line Items] | |||
Total long-term debt outstanding | $ 1,219.5 | $ 1,244.6 | |
Less current portion | (250.2) | (25.1) | |
Less unamortized debt discount | (1.7) | (1.9) | |
Plus unamortized debt premium | 0.3 | 0.5 | |
Plus fair value hedge adjustment | 0.2 | 2 | |
Total long-term debt, less current portion | $ 968.1 | 1,220.1 | |
Questar Corp [Member] | 2.75% Notes due 2016 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ 250 | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.75% | 2.75% | |
Debt Instrument, Maturity Date | Feb. 1, 2016 | ||
Total long-term debt outstanding | $ 250 | 250 | |
Questar Gas [Member] | |||
Debt Instrument [Line Items] | |||
Total long-term debt outstanding | 534.5 | 534.5 | |
Total long-term debt, less current portion | $ 534.5 | 534.5 | |
Questar Gas [Member] | 5.31% and 6.85% Medium-term Notes due 2017 and 2018 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 5.31% | ||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 6.85% | ||
Debt Instrument, Maturity Date Range, Start | Oct. 10, 2017 | ||
Debt Instrument, Maturity Date Range, End | Mar. 15, 2018 | ||
Total long-term debt outstanding | $ 84.5 | 84.5 | |
Questar Gas [Member] | 6.30% Notes due 2018 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.30% | ||
Debt Instrument, Maturity Date | Apr. 1, 2018 | ||
Total long-term debt outstanding | $ 50 | 50 | |
Questar Gas [Member] | 2.98% Notes due 2024 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.98% | ||
Debt Instrument, Maturity Date | Dec. 1, 2024 | ||
Total long-term debt outstanding | $ 40 | 40 | |
Questar Gas [Member] | 3.28% Notes due 2027 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.28% | ||
Debt Instrument, Maturity Date | Dec. 1, 2027 | ||
Total long-term debt outstanding | $ 110 | 110 | |
Questar Gas [Member] | 7.20% Notes due 2038 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 7.20% | ||
Debt Instrument, Maturity Date | Apr. 1, 2038 | ||
Total long-term debt outstanding | $ 100 | 100 | |
Questar Gas [Member] | 4.78% Notes due 2043 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.78% | ||
Debt Instrument, Maturity Date | Dec. 1, 2043 | ||
Total long-term debt outstanding | $ 90 | 90 | |
Questar Gas [Member] | 4.83% Notes due 2048 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.83% | ||
Debt Instrument, Maturity Date | Dec. 1, 2048 | ||
Total long-term debt outstanding | $ 60 | 60 | |
Questar Pipeline [Member] | |||
Debt Instrument [Line Items] | |||
Total long-term debt outstanding | 435 | 460.1 | |
Total long-term debt, less current portion | $ 433.6 | 433.7 | |
Questar Pipeline [Member] | 6.48% Medium-term Notes due 2018 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 6.45% | ||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 6.48% | ||
Debt Instrument, Maturity Date Range, Start | Oct. 15, 2015 | ||
Debt Instrument, Maturity Date Range, End | Dec. 11, 2018 | ||
Total long-term debt outstanding | $ 5 | 30.1 | |
Questar Pipeline [Member] | 5.83% Notes due 2018 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.83% | ||
Debt Instrument, Maturity Date | Feb. 1, 2018 | ||
Total long-term debt outstanding | $ 250 | 250 | |
Questar Pipeline [Member] | 4.875% Notes due 2041 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.875% | ||
Debt Instrument, Maturity Date | Dec. 1, 2041 | ||
Total long-term debt outstanding | $ 180 | $ 180 |
Debt Maturities of Long-term De
Debt Maturities of Long-term Debt (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Debt Maturities [Line Items] | |
Number of years of long-term debt maturities | 5 years |
Maturities of Long-term Debt [Abstract] | |
2,016 | $ 250 |
2,017 | 14.5 |
2,018 | 375 |
2,019 | 0 |
2,020 | 0 |
Questar Corp [Member] | |
Maturities of Long-term Debt [Abstract] | |
2,016 | 250 |
2,017 | 0 |
2,018 | 0 |
2,019 | 0 |
2,020 | 0 |
Questar Gas [Member] | |
Maturities of Long-term Debt [Abstract] | |
2,016 | 0 |
2,017 | 14.5 |
2,018 | 120 |
2,019 | 0 |
2,020 | 0 |
Questar Pipeline [Member] | |
Maturities of Long-term Debt [Abstract] | |
2,016 | 0 |
2,017 | 0 |
2,018 | 255 |
2,019 | 0 |
2,020 | $ 0 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Federal [Abstract] | |||
Current | $ 45.1 | $ 69.6 | $ 66.5 |
Deferred | 56.3 | 47.5 | 18.4 |
State [Abstract] | |||
Current | 5.1 | 6.9 | 10.7 |
Deferred | 4.3 | 2.1 | 5.9 |
Deferred investment tax credits recognized | (0.2) | (0.2) | (0.2) |
Total income tax expense | $ 110.6 | $ 125.9 | $ 101.3 |
Difference between the statutory federal income tax rate and the Company's effective income tax rate [Abstract] | |||
Federal income taxes statutory rate (in hundredths) | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal income tax benefit (in hundredths) | 1.90% | 1.60% | 4.00% |
Effective Income Tax Rate Reconciliation, Deduction, Qualified Production Activity, Percent | (2.00%) | (1.50%) | (1.50%) |
Tax benefits from dividends paid to employee stock plan (in hundredths) | (1.20%) | (1.00%) | (1.00%) |
Amortization of investment tax credits related to rate-regulated assets (in hundredths) | (0.10%) | 0.00% | 0.00% |
Other (in hundredths) | 1.00% | 1.60% | 2.10% |
Effective income tax rate (in hundredths) | 34.60% | 35.70% | 38.60% |
Deferred tax liabilities [Abstract] | |||
Property, plant and equipment | $ 881.8 | $ 827 | |
Employee benefits | 53.6 | 52 | |
Other | 0.6 | 0.5 | |
Deferred tax liabilities - noncurrent | 936 | 879.5 | |
Deferred tax assets [Abstract] | |||
Asset retirement obligations | 21.3 | 22.5 | |
Pension and other postretirement benefits | 101 | 110.8 | |
Deferred compensation | 13.6 | 15.7 | |
Hedging activities | 13.1 | 13.2 | |
State tax credits | 3.4 | 3.3 | |
Valuation allowance | (2.3) | (1.6) | |
Deferred tax assets, net of allowance - noncurrent | 150.1 | 163.9 | |
Net deferred income tax liability - noncurrent | 785.9 | 715.6 | |
Deferred income taxes - current [Abstract] | |||
Deferred tax assets - current | 14.9 | 15.7 | |
Deferred tax liabilities - current | 8.5 | 9.9 | |
Net deferred income tax asset - current | 6.4 | 5.8 | |
Questar Gas [Member] | |||
Federal [Abstract] | |||
Current | (16) | (11.9) | $ 6 |
Deferred | 48.8 | 42.4 | 23.5 |
State [Abstract] | |||
Current | (2) | (1.9) | 0.6 |
Deferred | 4.2 | 3.6 | 2 |
Deferred investment tax credits recognized | (0.2) | (0.2) | (0.2) |
Total income tax expense | $ 34.8 | $ 32 | $ 31.9 |
Difference between the statutory federal income tax rate and the Company's effective income tax rate [Abstract] | |||
Federal income taxes statutory rate (in hundredths) | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal income tax benefit (in hundredths) | 1.40% | 1.30% | 2.10% |
Amortization of investment tax credits related to rate-regulated assets (in hundredths) | (0.20%) | (0.20%) | (0.30%) |
Other (in hundredths) | (1.10%) | 0.60% | 0.90% |
Effective income tax rate (in hundredths) | 35.10% | 36.70% | 37.70% |
Deferred tax liabilities [Abstract] | |||
Property, plant and equipment | $ 403 | $ 354.4 | |
Employee benefits | 28 | 23.5 | |
Other | 0.6 | 0.5 | |
Deferred tax liabilities - noncurrent | 431.6 | 378.4 | |
Deferred tax assets [Abstract] | |||
Deferred compensation | 0.9 | 0.9 | |
Deferred tax assets, net of allowance - noncurrent | 0.9 | 0.9 | |
Net deferred income tax liability - noncurrent | 430.7 | 377.5 | |
Deferred income taxes - current [Abstract] | |||
Deferred tax assets - current | 2.5 | 3.6 | |
Deferred tax liabilities - current | 8.5 | 9.9 | |
Net deferred income tax (liability) - current | 6 | 6.3 | |
Questar Pipeline [Member] | |||
Federal [Abstract] | |||
Current | 21.7 | 21.9 | $ 20.2 |
Deferred | 10 | 11.6 | (15.2) |
State [Abstract] | |||
Current | 1 | 1 | 1.3 |
Deferred | 0.7 | 1.1 | 0.7 |
Total income tax expense | $ 33.4 | $ 35.6 | $ 7 |
Difference between the statutory federal income tax rate and the Company's effective income tax rate [Abstract] | |||
Federal income taxes statutory rate (in hundredths) | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal income tax benefit (in hundredths) | 1.20% | 1.50% | 8.50% |
Other (in hundredths) | (0.30%) | 0.50% | 2.60% |
Effective income tax rate (in hundredths) | 35.90% | 37.00% | 46.10% |
Deferred tax liabilities [Abstract] | |||
Property, plant and equipment | $ 254 | $ 246.1 | |
Employee benefits | 12.4 | 10.8 | |
Deferred tax liabilities - noncurrent | 266.4 | 256.9 | |
Deferred tax assets [Abstract] | |||
Deferred compensation | 1.6 | 2 | |
Hedging activities | 13.1 | 13.2 | |
State tax credits | 0.7 | 0.7 | |
Valuation allowance | (0.5) | (0.4) | |
Deferred tax assets, net of allowance - noncurrent | 14.9 | 15.5 | |
Net deferred income tax liability - noncurrent | 251.5 | 241.4 | |
Deferred income taxes - current [Abstract] | |||
Net deferred income tax asset - current | $ 1.6 | $ 1.9 |
Contingencies, Commitments an57
Contingencies, Commitments and Leases Contingencies (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2015 | |
Loss Contingencies [Line Items] | ||
Environmental expense for previously-owned chemical company | $ 5 | |
Accrual for environmental loss contingency on previously-owned chemical company | $ 5.4 | |
Wexpro [Member] | ||
Loss Contingencies [Line Items] | ||
Overriding royalty interest demanded in Rocky Mountain Resources litigation (in hundredths) | 4.00% | |
Maximum expected loss on Rocky Mountain Resources litigation | $ 14.1 | |
Unaffiliated Entity [Member] | ||
Loss Contingencies [Line Items] | ||
Maximum expected loss on Rocky Mountain Resources litigation | $ 16.2 |
Contingencies, Commitments an58
Contingencies, Commitments and Leases Commitments (Details) - Questar Gas [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Long-term Purchase Commitment [Line Items] | |||
Natural gas purchased under agreements | $ 82.4 | $ 135.8 | $ 186.5 |
Gas purchase agreements [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
2,016 | 22.5 | ||
2,017 | 13.6 | ||
2,018 | 15.9 | ||
2,019 | 15.9 | ||
2,020 | 15.9 | ||
Transportation and storage commitments - Related party [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
2,016 | 70.5 | ||
2,017 | 43.2 | ||
2,018 | 13.4 | ||
2,019 | 5.2 | ||
2,020 | 2.4 | ||
Transportation and gathering commitments - Third party [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
2,016 | 31 | ||
2,017 | 31 | ||
2,018 | 29.1 | ||
2,019 | 26.8 | ||
2,020 | $ 26.8 |
Contingencies, Commitments an59
Contingencies, Commitments and Leases Leases (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Leases, Capital [Abstract] | ||
New headquarters building lease term | 17 years | |
Commencement date of capital lease on new headquarters building | May 1, 2012 | |
Description of Lessee Leasing Arrangements, Capital Leases | Rental payments under the lease escalate at a rate of 3% per year during the lease term. The lease agreement does not include bargain renewal periods or material rent holidays and is not subject to contingent rent or other unusual provisions. | |
Assets under capital lease included in other property, plant and equipment | $ 40.8 | $ 40.8 |
Assets under capital lease included in other accumulated depreciation, depletion and amortization | 9.1 | 6.7 |
Current capital lease obligation | 1.2 | 1 |
Noncurrent capital lease obligation | 36 | $ 37.4 |
Future minimum payments and present value of net minimum payments under capital lease [Abstract] | ||
2,016 | 3.2 | |
2,017 | 3.6 | |
2,018 | 3.7 | |
2,019 | 3.8 | |
2,020 | 3.9 | |
After 2,020 | 37.2 | |
Total minimum lease payments | 55.4 | |
Less: amount representing interest | (18.2) | |
Present value of minimum lease payments at year-end | $ 37.2 |
Wexpro and Wexpro II Agreemen60
Wexpro and Wexpro II Agreements and Stipulations (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Agreement [Line Items] | |||
Percentage of Wexpro retention (in hundredths) | 46.00% | ||
Wexpro net investment base at December 31, (in millions) | $ 642.9 | $ 649 | $ 589.7 |
Average annual rate of return (after tax) (in hundredths) | 17.50% | 17.90% | 19.70% |
Oil and NGL income sharing (in millions) | $ 0 | $ 0 | $ 0.6 |
Trail acquisition specified Questar Gas supply percentage (in hundredths) | 65.00% | ||
Canyon Creek Acquisition Specified Questar Gas Supply Percetange by 2020 | 55.00% | ||
Stipulation savings for price differential | 50.00% | ||
Gas-development drilling [Member] | |||
Agreement [Line Items] | |||
Percentage of Wexpro after-tax rate of return (in hundredths) | 20.00% | ||
Percentage of premium added to base after-tax rate of return (in hundredths) | 8.00% | ||
Max percentage of development drilling program costs | 4.50% | ||
Natural gas operations [Member] | |||
Agreement [Line Items] | |||
Percentage of Wexpro after-tax rate of return (in hundredths) | 12.00% | ||
Developmental oil drilling [Member] | |||
Agreement [Line Items] | |||
Percentage of Wexpro after-tax rate of return (in hundredths) | 17.00% | ||
Percentage of premium added to base after-tax rate of return (in hundredths) | 5.00% | ||
Percentage of Wexpro retention (in hundredths) | 46.00% | ||
Percentage of Questar Gas retention (in hundredths) | 54.00% | ||
Crude oil production [Member] | |||
Agreement [Line Items] | |||
Percentage of Wexpro after-tax rate of return (in hundredths) | 12.00% | ||
Percentage of Wexpro retention (in hundredths) | 46.00% | ||
Acquired natural gas production [Member] | |||
Agreement [Line Items] | |||
Percentage of Wexpro after-tax rate of return (in hundredths) | 7.60% | ||
Wexpro [Member] | |||
Agreement [Line Items] | |||
Percentage of dry-hole and non-commercial well costs retention | 50.00% | ||
Questar Gas [Member] | |||
Agreement [Line Items] | |||
Percentage of dry-hole and non-commercial well costs retention | 50.00% |
Rate Regulation (Details)
Rate Regulation (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Regulatory Assets and Liabilities [Line Items] | ||
Current regulatory assets | $ 70 | $ 79.6 |
Noncurrent regulatory assets | 14.9 | 25 |
Current regulatory liabilities | 6.4 | 13.4 |
Noncurrent regulatory liabilities | 75.6 | 69.9 |
Questar Gas [Member] | ||
Regulatory Assets and Liabilities [Line Items] | ||
Current regulatory assets | 69.8 | 78.3 |
Noncurrent regulatory assets | 11.9 | 21.3 |
Current regulatory liabilities | 4 | 12.5 |
Noncurrent regulatory liabilities | $ 65.6 | 60.9 |
Rate Changes [Abstract] | ||
Current authorized return on equity in Utah | 9.85% | |
Amount of increase in annual revenues in Utah | $ 7.6 | |
Amount of increase in customer rates in Wyoming | $ 1.5 | |
Current authorized return on equity in Wyoming | 9.50% | |
Questar Gas [Member] | Purchased-gas adjustment [Member] | ||
Regulatory Assets and Liabilities [Line Items] | ||
Current regulatory assets | $ 18.9 | 39.2 |
Noncurrent regulatory assets | 0 | 0 |
Questar Gas [Member] | Energy-efficiency program [Member] | ||
Regulatory Assets and Liabilities [Line Items] | ||
Current regulatory assets | 1.1 | 0 |
Noncurrent regulatory assets | 0 | 0 |
Current regulatory liabilities | 0 | 0.3 |
Noncurrent regulatory liabilities | 0 | 0 |
Questar Gas [Member] | Contract withholding [Member] | ||
Regulatory Assets and Liabilities [Line Items] | ||
Current regulatory assets | 20.3 | 13.6 |
Noncurrent regulatory assets | 0 | 0 |
Questar Gas [Member] | Deferred cost-of-service gas charges [Member] | ||
Regulatory Assets and Liabilities [Line Items] | ||
Current regulatory assets | 19.5 | 25.5 |
Noncurrent regulatory assets | $ 8.1 | 9.3 |
Regulatory asset remaining recovery period (in years) | 12 months | |
Regulatory asset amortization period (in years) | 18 years | |
Questar Gas [Member] | Cost of reacquired debt [Member] | ||
Regulatory Assets and Liabilities [Line Items] | ||
Current regulatory assets | $ 0 | 0 |
Noncurrent regulatory assets | $ 3.8 | 4.3 |
Regulatory asset remaining recovery period (in years) | 7 years 2 months | |
Questar Gas [Member] | Pipeline integrity costs [Member] | ||
Regulatory Assets and Liabilities [Line Items] | ||
Current regulatory assets | $ 6.3 | 0 |
Noncurrent regulatory assets | 0 | 7.7 |
Amount of allowed yearly recovery through pipeline integrity regulations | 7 | |
Questar Gas [Member] | CET [Member] | ||
Regulatory Assets and Liabilities [Line Items] | ||
Current regulatory assets | 3.6 | 0 |
Noncurrent regulatory assets | 0 | 0 |
Current regulatory liabilities | 0 | 12.1 |
Noncurrent regulatory liabilities | 0 | 0 |
Questar Gas [Member] | Cost of plant removal [Member] | ||
Regulatory Assets and Liabilities [Line Items] | ||
Current regulatory liabilities | 3.7 | 0 |
Noncurrent regulatory liabilities | 65.5 | 60.7 |
Questar Gas [Member] | Income taxes recoverable from/refundable to customers [Member] | ||
Regulatory Assets and Liabilities [Line Items] | ||
Current regulatory liabilities | 0 | 0 |
Noncurrent regulatory liabilities | 0.1 | 0.2 |
Questar Gas [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets and Liabilities [Line Items] | ||
Current regulatory assets | 0.1 | 0 |
Noncurrent regulatory assets | 0 | 0 |
Current regulatory liabilities | 0.3 | 0.1 |
Noncurrent regulatory liabilities | 0 | 0 |
Questar Pipeline [Member] | ||
Regulatory Assets and Liabilities [Line Items] | ||
Current regulatory assets | 0.2 | 1.3 |
Noncurrent regulatory assets | 3 | 3.7 |
Current regulatory liabilities | 2.4 | 0.9 |
Noncurrent regulatory liabilities | 10 | 9 |
Questar Pipeline [Member] | Cost of reacquired debt [Member] | ||
Regulatory Assets and Liabilities [Line Items] | ||
Current regulatory assets | 0 | 0 |
Noncurrent regulatory assets | $ 1.8 | 2.2 |
Regulatory asset remaining recovery period (in years) | 6 years | |
Questar Pipeline [Member] | Gas imbalance [Member] | ||
Regulatory Assets and Liabilities [Line Items] | ||
Current regulatory assets | $ 0 | 1.2 |
Noncurrent regulatory assets | 0 | 0 |
Current regulatory liabilities | 2.3 | 0.8 |
Noncurrent regulatory liabilities | 0 | 0 |
Questar Pipeline [Member] | Revenue sharing [Member] | ||
Regulatory Assets and Liabilities [Line Items] | ||
Current regulatory assets | 0.2 | 0.1 |
Noncurrent regulatory assets | 0 | 0 |
Current regulatory liabilities | 0.1 | 0.1 |
Noncurrent regulatory liabilities | 0 | 0 |
Questar Pipeline [Member] | Income taxes recoverable from/refundable to customers [Member] | ||
Regulatory Assets and Liabilities [Line Items] | ||
Current regulatory assets | 0 | 0 |
Noncurrent regulatory assets | 0 | 0.3 |
Questar Pipeline [Member] | Postretirement medical [Member] | ||
Regulatory Assets and Liabilities [Line Items] | ||
Current regulatory liabilities | 0 | 0 |
Noncurrent regulatory liabilities | 10 | 9 |
Questar Pipeline [Member] | Other Regulatory Assets (Liabilities) [Member] | ||
Regulatory Assets and Liabilities [Line Items] | ||
Current regulatory assets | 0 | 0 |
Noncurrent regulatory assets | $ 1.2 | $ 1.2 |
Share-Based Compensation Genera
Share-Based Compensation General (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation | $ 11.4 | $ 12.4 | $ 10.2 |
Cash flow from income tax benefits in excess of recognized compensation expense | $ 0.6 | 2.2 | 14 |
Shares available for future grant (in shares) | 5,940,708 | ||
Total unrecognized compensation cost related to all share-based award types | $ 5.4 | ||
Weighted-average period of recognition for total unrecognized compensation cost (in months) | 12 months | ||
Questar Gas [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation | $ 1.4 | 1.6 | 1.4 |
Questar Pipeline [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation | $ 2 | $ 2.1 | $ 2 |
Share-Based Compensation Stock
Share-Based Compensation Stock options (Detail) - Stock Options [Member] $ / shares in Units, $ in Millions | 12 Months Ended | |
Dec. 31, 2015USD ($)installments$ / sharesshares | Dec. 31, 2014shares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Stock option minimum term (in years) | 5 years | |
Stock option maximum term (in years) | 10 years | |
Stock option majority minimum term (in years) | 7 years | |
Stock option majority maximum term (in years) | 10 years | |
Minimum number of installments for vesting of options held by employees | installments | 3 | |
Maximum number of installments for vesting of options held by employees | installments | 4 | |
Number of unvested options at end of period | shares | 0 | 0 |
Stock option transactions under the terms of the LTSIP - shares [Roll Forward] | ||
Balance at December 31, 2014 | shares | 435,507 | |
Granted | shares | 0 | |
Exercised | shares | (178,112) | |
Forfeited | shares | 0 | |
Balance at December 31, 2015 | shares | 257,395 | |
Stock option transactions under the terms of the LTSIP - exercise price [Roll Forward] | ||
Balance at December 31, 2014 | $ 12.46 | |
Exercised | 11.47 | |
Balance at December 31, 2015 | $ 13.14 | |
Stock options, additional disclosures [Abstract] | ||
Aggregate intrinsic value of outstanding options (in shares) | $ | $ 1.6 | |
Aggregate intrinsic value of exercisable options | $ | $ 1.6 | |
Number of Questar stock options held by certain officers, employees and nonemployee directors of QEP (in shares) | shares | 64,093 | |
Weighted-average exercise price of Questar stock options awarded to certain officers, employees and nonemployee directors of QEP (in dollars per share) | $ 12.16 | |
Weighted-average remaining life of Questar stock options held by certain officers, employees and nonemployee directors of QEP (in years) | 7 months | |
Options Outstanding Exercise Price Range 1 [Member] | ||
Stock options outstanding, exercisable and unvested at end of period, by exercise price range [Abstract] | ||
Minimum exercise price of options outstanding (in dollars per share) | $ 11.40 | |
Maximum exercise price of options outstanding (in dollars per share) | $ 17.35 | |
Number of outstanding options at end of period (in shares) | shares | 257,395 | |
Weighted-average remaining term (in years and months) | 10 months | |
Weighted-average exercise price (in dollars per share) | $ 13.14 | |
Number of exercisable options at end of period (in shares) | shares | 257,395 | |
Weighted-average exercise price, options exercisable (in dollars per share) | $ 13.14 | |
Minimum [Member] | ||
Stock option transactions under the terms of the LTSIP - exercise price [Roll Forward] | ||
Balance at December 31, 2014 | 11.40 | |
Exercised | 11.40 | |
Balance at December 31, 2015 | 11.40 | |
Maximum [Member] | ||
Stock option transactions under the terms of the LTSIP - exercise price [Roll Forward] | ||
Balance at December 31, 2014 | 17.35 | |
Exercised | 13.10 | |
Balance at December 31, 2015 | $ 17.35 | |
Questar Gas [Member] | ||
Stock options outstanding, exercisable and unvested at end of period, by exercise price range [Abstract] | ||
Number of outstanding options at end of period (in shares) | shares | 0 | |
Questar Pipeline [Member] | ||
Stock options outstanding, exercisable and unvested at end of period, by exercise price range [Abstract] | ||
Minimum exercise price of options outstanding (in dollars per share) | $ 11.40 | |
Maximum exercise price of options outstanding (in dollars per share) | $ 13.10 | |
Number of outstanding options at end of period (in shares) | shares | 47,995 | |
Weighted-average remaining term (in years and months) | 6 months | |
Weighted-average exercise price (in dollars per share) | $ 11.98 | |
Number of exercisable options at end of period (in shares) | shares | 47,995 | |
Weighted-average exercise price, options exercisable (in dollars per share) | $ 11.98 |
Share-Based Compensation Restri
Share-Based Compensation Restricted shares (Details) - Restricted Shares [Member] | 12 Months Ended |
Dec. 31, 2015$ / sharesshares | |
Transactions under the terms of the LTSIP - shares [Roll Forward] | |
Balance at December 31, 2014 | shares | 102,354 |
Granted | shares | 0 |
Vested | shares | (102,135) |
Forfeited | shares | 0 |
Balance at December 31, 2015 | shares | 219 |
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | |
Balance at December 31, 2014 | $ 19.41 |
Vested | 19.40 |
Balance at December 31, 2015 | $ 21.53 |
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 issued (in months) | 2 months |
Minimum [Member] | |
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | |
Balance at December 31, 2014 | $ 19.39 |
Vested | 19.39 |
Balance at December 31, 2015 | 21.53 |
Maximum [Member] | |
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | |
Balance at December 31, 2014 | 21.53 |
Vested | 21.53 |
Balance at December 31, 2015 | $ 21.53 |
Questar Pipeline [Member] | |
Transactions under the terms of the LTSIP - shares [Roll Forward] | |
Balance at December 31, 2015 | shares | 0 |
Questar Gas [Member] | |
Transactions under the terms of the LTSIP - shares [Roll Forward] | |
Balance at December 31, 2015 | shares | 0 |
Share-Based Compensation Rest65
Share-Based Compensation Restricted stock units (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation | $ 11.4 | $ 12.4 | $ 10.2 |
Share-based awards other than options, additional disclosures [Abstract] | |||
Tax benefits from share-based compensation | $ 0.6 | $ 2.2 | 14 |
Restricted Stock Units [Member] | |||
Transactions under the terms of the LTSIP - shares [Roll Forward] | |||
Balance at December 31, 2014 | 526,102 | ||
Granted | 351,282 | ||
Vested | (294,515) | ||
Forfeited | (32,467) | ||
Balance at December 31, 2015 | 550,402 | 526,102 | |
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | |||
Balance at December 31, 2014 | $ 23.60 | ||
Granted | 24.38 | ||
Vested | 23.68 | ||
Forfeited | 24.32 | ||
Balance at December 31, 2015 | $ 24.01 | $ 23.60 | |
Share-based awards other than options, additional disclosures [Abstract] | |||
Weighted-average remaining vesting period of share-based awards issued (in months) | 10 months | ||
Number of shares of common stock to be issued for each vested restricted stock unit (RSU) | 1 | ||
Vesting period for share-based award (in years) | 3 years | ||
Deferred Restricted Stock Units (RSUs) [Member] | |||
Transactions under the terms of the LTSIP - shares [Roll Forward] | |||
Balance at December 31, 2015 | 47,325 | ||
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | |||
Balance at December 31, 2015 | $ 23.91 | ||
Share-based awards other than options, additional disclosures [Abstract] | |||
Weighted-average remaining vesting period of share-based awards issued (in months) | 2 months | ||
Number of shares of common stock to be issued for each vested restricted stock unit (RSU) | 1 | ||
Vesting period for share-based award (in years) | 1 year | ||
Minimum [Member] | Restricted Stock Units [Member] | |||
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | |||
Balance at December 31, 2014 | $ 22.14 | ||
Granted | 23.70 | ||
Vested | 22.14 | ||
Forfeited | 22.17 | ||
Balance at December 31, 2015 | 22.52 | 22.14 | |
Maximum [Member] | Restricted Stock Units [Member] | |||
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | |||
Balance at December 31, 2014 | 24.70 | ||
Granted | 25.07 | ||
Vested | 25.07 | ||
Forfeited | 24.41 | ||
Balance at December 31, 2015 | $ 25.07 | $ 24.70 | |
Questar Gas [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation | $ 1.4 | $ 1.6 | 1.4 |
Questar Gas [Member] | Restricted Stock Units [Member] | |||
Transactions under the terms of the LTSIP - shares [Roll Forward] | |||
Balance at December 31, 2015 | 97,209 | ||
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | |||
Balance at December 31, 2015 | $ 24.01 | ||
Share-based awards other than options, additional disclosures [Abstract] | |||
Weighted-average remaining vesting period of share-based awards issued (in months) | 10 months | ||
Questar Gas [Member] | Minimum [Member] | Restricted Stock Units [Member] | |||
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | |||
Balance at December 31, 2015 | $ 23.09 | ||
Questar Gas [Member] | Maximum [Member] | Restricted Stock Units [Member] | |||
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | |||
Balance at December 31, 2015 | $ 24.41 | ||
Questar Pipeline [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation | $ 2 | $ 2.1 | $ 2 |
Questar Pipeline [Member] | Restricted Stock Units [Member] | |||
Transactions under the terms of the LTSIP - shares [Roll Forward] | |||
Balance at December 31, 2015 | 126,744 | ||
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | |||
Balance at December 31, 2015 | $ 23.95 | ||
Share-based awards other than options, additional disclosures [Abstract] | |||
Weighted-average remaining vesting period of share-based awards issued (in months) | 11 months | ||
Questar Pipeline [Member] | Minimum [Member] | Restricted Stock Units [Member] | |||
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | |||
Balance at December 31, 2015 | $ 23.09 | ||
Questar Pipeline [Member] | Maximum [Member] | Restricted Stock Units [Member] | |||
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | |||
Balance at December 31, 2015 | $ 24.41 |
Share-Based Compensation Perfor
Share-Based Compensation Performance shares (Details) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||
Mar. 31, 2016$ / sharesshares | Dec. 31, 2015USD ($)$ / sharesshares | Dec. 31, 2014USD ($)$ / sharesshares | Dec. 31, 2013USD ($)$ / shares | ||||
Performance Shares [Member] | |||||||
Major assumptions used in the calculation of fair value of performance shares granted [Abstract] | |||||||
Weighted-average grant date fair value, performance shares granted (in dollars per share) | $ 21.03 | ||||||
Weighted-average grant date fair value, performance shares granted (in dollars per share) | $ 20.82 | $ 31.07 | $ 39.62 | ||||
Risk-free interest rate (in hundredths) | 0.95% | 0.67% | 0.40% | ||||
Expected price volatility (in hundredths) | 16.10% | 18.60% | 19.00% | ||||
Expected dividend yield (in hundredths) | 3.11% | 3.05% | 2.88% | ||||
Expected life (in years and months) | 2 years 11 months | 2 years 11 months | 2 years 11 months | ||||
Transactions under the terms of the LTSIP - shares [Roll Forward] | |||||||
Balance at December 31, 2014 | shares | 343,748 | [1],[2] | 391,249 | ||||
Granted | shares | 160,302 | ||||||
Distributed | shares | [3] | (134,778) | |||||
Forfeited | shares | (73,025) | ||||||
Balance at December 31, 2015 | shares | 343,748 | [1],[2] | 391,249 | ||||
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | |||||||
Balance at December 31, 2014 | $ 30.37 | [1],[2] | $ 31.78 | ||||
Granted | 20.82 | $ 31.07 | $ 39.62 | ||||
Distributed | [3] | 25.42 | |||||
Forfeited | 26.11 | ||||||
Performance shares, additional disclosures [Abstract] | |||||||
Balance at December 31, 2015 | $ 30.37 | [1],[2] | $ 31.78 | ||||
Performance share payout adjustment multiplier | 1 | ||||||
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 | $ | $ 2.8 | $ 3.8 | $ 2 | ||||
Weighted-average remaining vesting period of share-based awards issued (in months) | 19 months | ||||||
Performance share cash distributed | $ | $ 1.7 | ||||||
Performance Shares [Member] | Vested Undistributed [Member] | |||||||
Performance shares, additional disclosures [Abstract] | |||||||
Performance share payout adjustment multiplier | 0.32 | ||||||
Number of undistributed performance shares at end of period (in shares) | shares | 115,074 | ||||||
The date the share-based award will be distributed | first quarter of 2016 | ||||||
Performance Shares [Member] | Minimum [Member] | |||||||
Major assumptions used in the calculation of fair value of performance shares granted [Abstract] | |||||||
Weighted-average grant date fair value, performance shares granted (in dollars per share) | $ 19.03 | ||||||
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | |||||||
Balance at December 31, 2014 | $ 19.03 | [1],[2] | 25.42 | ||||
Granted | 19.03 | ||||||
Distributed | [3] | 25.42 | |||||
Forfeited | 21.03 | ||||||
Performance shares, additional disclosures [Abstract] | |||||||
Balance at December 31, 2015 | $ 19.03 | [1],[2] | $ 25.42 | ||||
Performance share payout adjustment multiplier | 0 | ||||||
Performance Shares [Member] | Maximum [Member] | |||||||
Major assumptions used in the calculation of fair value of performance shares granted [Abstract] | |||||||
Weighted-average grant date fair value, performance shares granted (in dollars per share) | $ 21.03 | ||||||
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | |||||||
Balance at December 31, 2014 | $ 39.62 | [1],[2] | 39.62 | ||||
Granted | 21.03 | ||||||
Distributed | [3] | 25.42 | |||||
Forfeited | 39.62 | ||||||
Performance shares, additional disclosures [Abstract] | |||||||
Balance at December 31, 2015 | $ 39.62 | [1],[2] | $ 39.62 | ||||
Performance share payout adjustment multiplier | 3 | ||||||
Performance Shares - Cash Settled [Member] | |||||||
Performance shares, additional disclosures [Abstract] | |||||||
Number of undistributed performance shares at end of period (in shares) | shares | 57,537 | ||||||
Performance Shares - Equity Settled [Member] | |||||||
Performance shares, additional disclosures [Abstract] | |||||||
Number of undistributed performance shares at end of period (in shares) | shares | 286,211 | ||||||
Questar Gas [Member] | Performance Shares [Member] | |||||||
Transactions under the terms of the LTSIP - shares [Roll Forward] | |||||||
Balance at December 31, 2014 | shares | 33,578 | ||||||
Balance at December 31, 2015 | shares | 33,578 | ||||||
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | |||||||
Balance at December 31, 2014 | $ 30.23 | ||||||
Performance shares, additional disclosures [Abstract] | |||||||
Balance at December 31, 2015 | $ 30.23 | ||||||
Weighted-average remaining vesting period of share-based awards issued (in months) | 18 months | ||||||
Questar Gas [Member] | Performance Shares [Member] | Minimum [Member] | |||||||
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | |||||||
Balance at December 31, 2014 | 21.03 | ||||||
Performance shares, additional disclosures [Abstract] | |||||||
Balance at December 31, 2015 | $ 21.03 | ||||||
Questar Gas [Member] | Performance Shares [Member] | Maximum [Member] | |||||||
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | |||||||
Balance at December 31, 2014 | $ 39.62 | ||||||
Performance shares, additional disclosures [Abstract] | |||||||
Balance at December 31, 2015 | $ 39.62 | ||||||
Questar Pipeline [Member] | Performance Shares [Member] | |||||||
Transactions under the terms of the LTSIP - shares [Roll Forward] | |||||||
Balance at December 31, 2014 | shares | 47,454 | ||||||
Balance at December 31, 2015 | shares | 47,454 | ||||||
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | |||||||
Balance at December 31, 2014 | $ 28.43 | ||||||
Performance shares, additional disclosures [Abstract] | |||||||
Balance at December 31, 2015 | $ 28.43 | ||||||
Weighted-average remaining vesting period of share-based awards issued (in months) | 23 months | ||||||
Questar Pipeline [Member] | Performance Shares [Member] | Minimum [Member] | |||||||
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | |||||||
Balance at December 31, 2014 | 19.03 | ||||||
Performance shares, additional disclosures [Abstract] | |||||||
Balance at December 31, 2015 | $ 19.03 | ||||||
Questar Pipeline [Member] | Performance Shares [Member] | Maximum [Member] | |||||||
Transactions under the terms of LTSIP - grant-date fair value [Roll Forward] | |||||||
Balance at December 31, 2014 | $ 39.62 | ||||||
Performance shares, additional disclosures [Abstract] | |||||||
Balance at December 31, 2015 | $ 39.62 | ||||||
[1] | The total undistributed balance consists of 286,211 of share-settled target shares and 57,537 of cash-settled target shares. | ||||||
[2] | The total undistributed balance includes 115,074 vested target shares that are expected to be distributed in the first quarter of 2016 using a payout adjustment multiplier of 0.32. The multiplier reflects Questar's final total shareholder return ranking relative to the specified peer companies for the performance period from January 1, 2013 through December 31, 2015. The distribution will be half in shares, half in cash. These target shares are included in the amounts described in note (2), immediately above. | ||||||
[3] | Actual shares and cash distributed were determined by multiplying the target shares by 1.00 to reflect Questar's final total shareholder return ranking relative to the specified peer companies for the performance period from January 1, 2012 through December 31, 2014. The total amount paid for the cash half of the distribution was $1.7 million. |
Employee Benefits Defined benef
Employee Benefits Defined benefit plans disclosures (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Defined Benefit Plan Disclosure [Line Items] | |||||||
Pension settlement costs | $ 16.7 | $ 0 | $ 0 | $ 0 | $ 16.7 | $ 0 | $ 0 |
Defined Contribution Plan, Cost Recognized | $ 9.8 | $ 9.1 | $ 7.2 | ||||
Total debt securities [Abstract] | |||||||
Time over which set performance objectives for each investment manager are expected to be met (in years) | 3 years | ||||||
Minimum [Member] | |||||||
Total debt securities [Abstract] | |||||||
Average maturities for investment-grade intermediate-term debt (in years) | 5 years | ||||||
Average maturities for investment-grade long-term debt (in years) | 10 years | ||||||
Maximum [Member] | |||||||
Total debt securities [Abstract] | |||||||
Average maturities for investment-grade intermediate-term debt (in years) | 10 years | ||||||
Average maturities for below-investment-grade debt (in years) | 10 years | ||||||
Total domestic equity securities [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Total domestic equity securities (in hundredths) | 36.00% | 36.00% | 38.00% | ||||
Policy Range [Abstract] | |||||||
Total domestic equity securities - minimum range (in hundredths) | 35.00% | 35.00% | |||||
Total domestic equity securities - maximum range (in hundredths) | 45.00% | 45.00% | |||||
Total foreign securities [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Total domestic equity securities (in hundredths) | 24.00% | 24.00% | 22.00% | ||||
Policy Range [Abstract] | |||||||
Total domestic equity securities - minimum range (in hundredths) | 25.00% | 25.00% | |||||
Total domestic equity securities - maximum range (in hundredths) | 35.00% | 35.00% | |||||
Developed market foreign equity securities [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Total domestic equity securities (in hundredths) | 20.00% | 20.00% | 18.00% | ||||
Emerging market foreign equity securities [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Total domestic equity securities (in hundredths) | 4.00% | 4.00% | 4.00% | ||||
Total debt securities [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Total domestic equity securities (in hundredths) | 30.00% | 30.00% | 30.00% | ||||
Policy Range [Abstract] | |||||||
Total domestic equity securities - minimum range (in hundredths) | 25.00% | 25.00% | |||||
Total domestic equity securities - maximum range (in hundredths) | 35.00% | 35.00% | |||||
Investment grade intermediate term debt [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Total domestic equity securities (in hundredths) | 5.00% | 5.00% | 7.00% | ||||
Investment grade long-term debt [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Total domestic equity securities (in hundredths) | 15.00% | 15.00% | 14.00% | ||||
Below-Investment grade debt [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Total domestic equity securities (in hundredths) | 10.00% | 10.00% | 9.00% | ||||
Inflation protection securities [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Total domestic equity securities (in hundredths) | 10.00% | 10.00% | 9.00% | ||||
Policy Range [Abstract] | |||||||
Total domestic equity securities - minimum range (in hundredths) | 0.00% | 0.00% | |||||
Total domestic equity securities - maximum range (in hundredths) | 10.00% | 10.00% | |||||
Cash and short-term investments [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Total domestic equity securities (in hundredths) | 0.00% | 0.00% | 1.00% | ||||
Policy Range [Abstract] | |||||||
Total domestic equity securities - minimum range (in hundredths) | 0.00% | 0.00% | |||||
Total domestic equity securities - maximum range (in hundredths) | 3.00% | 3.00% |
Employee Benefits Schedule of f
Employee Benefits Schedule of fair value of financial assets for pension and postretirement benefits (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Defined Benefit Plan Disclosure Fair Value [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | $ 705.2 | $ 737.2 |
Corporate bonds [Member] | ||
Defined Benefit Plan Disclosure Fair Value [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | 14.1 | 1.5 |
U.S. government securities [Member] | ||
Defined Benefit Plan Disclosure Fair Value [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | 12.9 | |
Fixed income registered investment companies [Member] | ||
Defined Benefit Plan Disclosure Fair Value [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | 88.9 | 114.9 |
Inflation protection registered investment companies [Member] | ||
Defined Benefit Plan Disclosure Fair Value [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | 35.6 | 34.5 |
Domestic equity registered investment companies [Member] | ||
Defined Benefit Plan Disclosure Fair Value [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | 0.6 | 1.6 |
Commingled funds Reconciliation [Member] | ||
Defined Benefit Plan Disclosure Fair Value [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | 519 | 525.6 |
ForeignEquityGrowth10312InvestmentEntitiesMemberReconciliation [Member] | ||
Defined Benefit Plan Disclosure Fair Value [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | 47 | 46.2 |
Level 1 [Member] | ||
Defined Benefit Plan Disclosure Fair Value [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | 125.1 | 151 |
Level 1 [Member] | Corporate bonds [Member] | ||
Defined Benefit Plan Disclosure Fair Value [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Level 1 [Member] | U.S. government securities [Member] | ||
Defined Benefit Plan Disclosure Fair Value [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | |
Level 1 [Member] | Fixed income registered investment companies [Member] | ||
Defined Benefit Plan Disclosure Fair Value [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | 88.9 | 114.9 |
Level 1 [Member] | Inflation protection registered investment companies [Member] | ||
Defined Benefit Plan Disclosure Fair Value [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | 35.6 | 34.5 |
Level 1 [Member] | Domestic equity registered investment companies [Member] | ||
Defined Benefit Plan Disclosure Fair Value [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | 0.6 | 1.6 |
Level 2 [Member] | ||
Defined Benefit Plan Disclosure Fair Value [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | 14.1 | 14.4 |
Level 2 [Member] | Corporate bonds [Member] | ||
Defined Benefit Plan Disclosure Fair Value [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | 14.1 | 1.5 |
Level 2 [Member] | U.S. government securities [Member] | ||
Defined Benefit Plan Disclosure Fair Value [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | 12.9 | |
Level 2 [Member] | Fixed income registered investment companies [Member] | ||
Defined Benefit Plan Disclosure Fair Value [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Level 2 [Member] | Inflation protection registered investment companies [Member] | ||
Defined Benefit Plan Disclosure Fair Value [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Level 2 [Member] | Domestic equity registered investment companies [Member] | ||
Defined Benefit Plan Disclosure Fair Value [Line Items] | ||
Defined Benefit Plan, Fair Value of Plan Assets | $ 0 | $ 0 |
Employee Benefits Pension and p
Employee Benefits Pension and postretirement benefit plan obligation disclosures (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015USD ($)semimonthly_pay_periods | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Change in plan assets [Roll Forward] | |||
Fair value of plan assets at beginning of year | $ 737.2 | ||
Fair value of plan assets at end of year | $ 705.2 | $ 737.2 | |
Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Number of consecutive semimonthly pay periods of highest earnings, on which pension plan benefits are based | semimonthly_pay_periods | 72 | ||
Number of final years of employment, during which the highest 72 consecutive semimonthly earnings periods for pension plan benefits are determined | 10 years | ||
Accumulated benefit obligation | $ 646.6 | ||
Change in benefit obligation [Roll Forward] | |||
Benefit obligation at beginning of year | 834 | 702.7 | |
Service cost | 13.8 | 11.8 | $ 13.9 |
Interest cost | 32.7 | 33.4 | 30.6 |
Plan and assumption changes | (53.7) | 109.1 | |
Actuarial (gain) loss | 7 | (0.7) | |
Benefits paid | (73.8) | (22.3) | |
Benefit obligation at end of year | 760 | 834 | 702.7 |
Change in plan assets [Roll Forward] | |||
Fair value of plan assets at beginning of year | 690.2 | 628.2 | |
Actual gain (loss) on plan assets | (15) | 40.4 | |
Company contributions to the plan | 71.8 | 43.9 | |
Fair value of plan assets at end of year | 673.2 | 690.2 | 628.2 |
Funded status of plan [Abstract] | |||
Underfunded status (current and long-term) | (86.8) | $ (143.8) | |
Estimated benefit-plan payments for the next five years and subsequent five years aggregated [Abstract] | |||
2,016 | 50.5 | ||
2,017 | 50.1 | ||
2,018 | 63.6 | ||
2,019 | 52.9 | ||
2,020 | 52.8 | ||
2021 through 2025 | $ 264.1 | ||
Pension Plans, Defined Benefit, Qualified Only [Member] | |||
Assumptions used to calculate benefit obligations [Abstract] | |||
Discount rate used to calculate benefit obligation (in hundredths) | 4.50% | 4.10% | |
Rate of increase in compensation used to calculate benefit obligation (in hundredths) | 5.50% | 5.50% | |
Long-term return on assets used to calculate benefit obligation (in hundredths) | 7.00% | 7.00% | |
Funded status of plan [Abstract] | |||
Projected pension funding in the next fiscal year | $ 18.1 | ||
Pension Plans, Defined Benefit, Nonqualified Only [Member] | |||
Assumptions used to calculate benefit obligations [Abstract] | |||
Discount rate used to calculate benefit obligation (in hundredths) | 3.10% | 2.90% | |
Rate of increase in compensation used to calculate benefit obligation (in hundredths) | 5.50% | 5.50% | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percent of 1992 contribution, to which the Company's portion of health-care benefits is generally limited for employees who retired after January 1, 1993 | 170.00% | ||
Assumptions used to calculate benefit obligations [Abstract] | |||
Discount rate used to calculate benefit obligation (in hundredths) | 4.30% | 4.00% | |
Long-term return on assets used to calculate benefit obligation (in hundredths) | 7.00% | 7.00% | |
Assumed health care cost trend rates used to calculate benefit obligation [Abstract] | |||
Health-care inflation rate used to calculate benefit obligation (in hundredths) | 7.00% | 7.50% | |
Ultimate health care cost trend rate used to calculate benefit obligation (in hundredths) | 4.50% | 4.50% | |
Year that rate reaches ultimate trend rate, used to calculate benefit obligation | 2,021 | 2,021 | |
Change in benefit obligation [Roll Forward] | |||
Benefit obligation at beginning of year | $ 90.8 | $ 86.3 | |
Service cost | 0.6 | 0.6 | 0.7 |
Interest cost | 3.5 | 3.8 | 3.7 |
Plan and assumption changes | (4.4) | 4.9 | |
Actuarial (gain) loss | (1.6) | (3) | |
Benefits paid | (2.9) | (1.8) | |
Benefit obligation at end of year | 86 | 90.8 | 86.3 |
Change in plan assets [Roll Forward] | |||
Fair value of plan assets at beginning of year | 47 | 43.8 | |
Actual gain (loss) on plan assets | (0.9) | 2.9 | |
Company contributions to the plan | 0.9 | 2.1 | |
Fair value of plan assets at end of year | 44.1 | 47 | $ 43.8 |
Funded status of plan [Abstract] | |||
Underfunded status (current and long-term) | (41.9) | $ (43.8) | |
Estimated benefit-plan payments for the next five years and subsequent five years aggregated [Abstract] | |||
2,016 | 4.5 | ||
2,017 | 4.5 | ||
2,018 | 4.7 | ||
2,019 | 4.8 | ||
2,020 | 5 | ||
2021 through 2025 | $ 25.9 |
Employee Benefits Net pension a
Employee Benefits Net pension and postretirement benefit cost and other disclosures (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Assumed health care cost trend rates used to calculate net benefit costs [Abstract] | |||
Max gain or loss percentage for corridor approach | 10.00% | ||
Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | $ 13.8 | $ 11.8 | $ 13.9 |
Interest cost | 32.7 | 33.4 | 30.6 |
Expected return on plan assets | (47.7) | (43.6) | (38.1) |
Prior service and other costs | 0.1 | 0.6 | 1.1 |
Recognized net actuarial loss | 21.9 | 15.4 | 28.9 |
Pension settlement costs | 16.7 | 0 | 0 |
Accretion of regulatory liability | 0 | 0 | 0 |
Net periodic cost | 37.5 | $ 17.6 | $ 36.4 |
Assumed health care cost trend rates used to calculate net benefit costs [Abstract] | |||
Estimated net benefit cost for next fiscal year | 11.2 | ||
Estimated amortization of actuarial loss from AOCI for next fiscal year | $ 15.1 | ||
Pension Plans, Defined Benefit, Qualified Only [Member] | |||
Assumptions used to calculate net pension and postretirement benefit costs [Abstract] | |||
Discount rate used to calculate net benefit costs (in hundredths) | 4.10% | 4.90% | 4.20% |
Rate of increase in compensation used to calculate net benefit costs (in hundredths) | 5.50% | 5.50% | 5.50% |
Long-term return on assets used to calculate net benefit costs (in hundredths) | 7.00% | 7.25% | 7.25% |
Pension Plans, Defined Benefit, Nonqualified Only [Member] | |||
Assumptions used to calculate net pension and postretirement benefit costs [Abstract] | |||
Discount rate used to calculate net benefit costs (in hundredths) | 2.90% | 3.30% | 2.40% |
Rate of increase in compensation used to calculate net benefit costs (in hundredths) | 5.50% | 5.50% | 5.50% |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | $ 0.6 | $ 0.6 | $ 0.7 |
Interest cost | 3.5 | 3.8 | 3.7 |
Expected return on plan assets | (3.2) | (3) | (2.6) |
Prior service and other costs | 0 | 0 | 0 |
Recognized net actuarial loss | 1.2 | 0.7 | 3 |
Pension settlement costs | 0 | 0 | 0 |
Accretion of regulatory liability | 1 | 0.8 | 0.5 |
Net periodic cost | $ 3.1 | $ 2.9 | $ 5.3 |
Assumptions used to calculate net pension and postretirement benefit costs [Abstract] | |||
Discount rate used to calculate net benefit costs (in hundredths) | 4.00% | 4.70% | 4.00% |
Long-term return on assets used to calculate net benefit costs (in hundredths) | 7.00% | 7.25% | 7.25% |
Assumed health care cost trend rates used to calculate net benefit costs [Abstract] | |||
Health-care inflation rate used to calculate net benefit costs (in hundredths) | 7.50% | 8.00% | 8.50% |
Ultimate health care cost trend rate used to calculate net benefit costs (in hundredths) | 4.50% | 4.50% | 4.50% |
Year that rate reaches ultimate trend rate, used to calculate net benefit costs | 2,021 | 2,021 | 2,021 |
Estimated net benefit cost for next fiscal year | $ 2.1 | ||
Estimated amortization of actuarial loss from AOCI for next fiscal year | 0.9 | ||
Estimated amortization of prior service cost from AOCI for next fiscal year | 0.1 | ||
Effect of 1% increase in the health care inflation rate on the yearly service and interest cost | 0 | ||
Effect of 1% increase in the health care inflation rate on the accumulated post-retirement benefit obligation | 0.5 | ||
Effect of 1% decrease in the health care inflation rate on the yearly service and interest cost | 0 | ||
Effect of 1% decrease in the health care inflation rate on the accumulated post-retirement benefit obligation | $ (0.5) |
Employee Benefits Subsidiary pl
Employee Benefits Subsidiary plan participation and 401(k) Retirement Income Plan (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Subsidiary plan participation and 401(k) Retirement Income Plan [Line Items] | |||
Percentage of employees' qualifying earnings to which the employer matching contribution applies (in hundredths) | 100.00% | ||
Percentage of employees' qualifying earnings matched by the employer for pre-tax 401(k) Plan purchases (in hundredths) | 6.00% | ||
Percentage of employees' qualifying prior year earnings contributed by the employer on a non-matching basis for pre-tax 401(k) Plan purchases (in hundredths) | 4.00% | ||
Yearly 401(k) Plan contribution expense amount recognized in the current period | $ 9.8 | $ 9.1 | $ 7.2 |
Pension Plans, Defined Benefit [Member] | |||
Subsidiary plan participation and 401(k) Retirement Income Plan [Line Items] | |||
Net periodic cost | 37.5 | 17.6 | 36.4 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Subsidiary plan participation and 401(k) Retirement Income Plan [Line Items] | |||
Net periodic cost | 3.1 | 2.9 | 5.3 |
Questar Gas [Member] | |||
Subsidiary plan participation and 401(k) Retirement Income Plan [Line Items] | |||
Yearly 401(k) Plan contribution expense amount recognized in the current period | 4.5 | 4.1 | 3.4 |
Questar Gas [Member] | Pension Plans, Defined Benefit [Member] | |||
Subsidiary plan participation and 401(k) Retirement Income Plan [Line Items] | |||
Net periodic cost | 10.4 | 8.5 | 18.1 |
Share of total defined benefit plan contributions | 34.9 | 21.8 | 29.6 |
Questar Gas [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Subsidiary plan participation and 401(k) Retirement Income Plan [Line Items] | |||
Net periodic cost | 0.9 | 0.8 | 2.4 |
Share of total defined benefit plan contributions | 0.5 | 1.1 | 2 |
Questar Pipeline [Member] | |||
Subsidiary plan participation and 401(k) Retirement Income Plan [Line Items] | |||
Yearly 401(k) Plan contribution expense amount recognized in the current period | 1.8 | 1.8 | 1.4 |
Questar Pipeline [Member] | Pension Plans, Defined Benefit [Member] | |||
Subsidiary plan participation and 401(k) Retirement Income Plan [Line Items] | |||
Net periodic cost | 3.8 | 3.2 | 6.7 |
Share of total defined benefit plan contributions | 13.4 | 8.1 | 11.2 |
Questar Pipeline [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Subsidiary plan participation and 401(k) Retirement Income Plan [Line Items] | |||
Net periodic cost | (0.3) | (0.4) | 0.2 |
Share of total defined benefit plan contributions | $ 0.1 | $ 0.4 | $ 0.7 |
Operations by Line of Busines72
Operations by Line of Business (Details) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Sep. 30, 2014USD ($) | Jun. 30, 2014USD ($) | Mar. 31, 2014USD ($) | Dec. 31, 2015USD ($)lines_of_business | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Segment Reporting Information [Line Items] | |||||||||||
Number of complementary lines of business | lines_of_business | 3 | ||||||||||
Revenues [Abstract] | |||||||||||
Total Revenues | $ 364.7 | $ 142.3 | $ 199.3 | $ 428.6 | $ 373.2 | $ 157.9 | $ 201.3 | $ 456.9 | $ 1,134.9 | $ 1,189.3 | $ 1,220 |
Operating Expenses [Abstract] | |||||||||||
Cost of sales | 175.2 | 186.3 | 285.9 | ||||||||
Operating and maintenance | 181.6 | 194.2 | 179.4 | ||||||||
General and administrative | 109 | 122.7 | 115.9 | ||||||||
Pension settlement costs | 16.7 | 0 | 0 | 0 | 16.7 | 0 | 0 | ||||
Production and other taxes | 51.3 | 66.2 | 57.4 | ||||||||
Depreciation, depletion and amortization | 216 | 213.7 | 194.8 | ||||||||
Abandonment and impairment | 12.5 | 2 | 80.6 | ||||||||
Other operating expenses | 0 | ||||||||||
Total Operating Expenses | 762.3 | 785.1 | 914 | ||||||||
Net gain (loss) from asset sales | 1.8 | 1.2 | (0.2) | ||||||||
Operating Income (Loss) | 89.8 | 62.3 | 75.3 | 147 | 111.7 | 68.9 | 76.5 | 148.3 | 374.4 | 405.4 | 305.8 |
Interest and other income | 4.2 | 6.6 | 9.9 | ||||||||
Income from unconsolidated affiliate | 3.7 | 3.5 | 3.7 | ||||||||
Interest expense | (63) | (63.1) | (56.9) | ||||||||
Income taxes | (110.6) | (125.9) | (101.3) | ||||||||
Net Income (Loss) | 50.9 | $ 32.6 | $ 40.6 | $ 84.6 | 62.5 | $ 38.6 | $ 40.3 | $ 85.1 | 208.7 | 226.5 | 161.2 |
Additional Line-of-Business Information [Abstract] | |||||||||||
Identifiable assets | 4,377.8 | 4,243.9 | 4,377.8 | 4,243.9 | 4,044.6 | ||||||
Goodwill | 9.8 | 9.8 | 9.8 | 9.8 | 9.8 | ||||||
Investment in unconsolidated affiliate | 23.9 | 24.7 | 23.9 | 24.7 | 25.6 | ||||||
Cash capital expenditures, including acquisitions | 330.4 | 371.5 | 503.7 | ||||||||
Accrued capital expenditures, including acquisitions | 328 | 359.7 | 505.6 | ||||||||
From unaffiliated customers [Member] | |||||||||||
Revenues [Abstract] | |||||||||||
Total Revenues | 1,134.9 | 1,189.3 | 1,220 | ||||||||
From affiliated companies [Member] | |||||||||||
Revenues [Abstract] | |||||||||||
Total Revenues | 0 | 0 | 0 | ||||||||
Operating Segments [Member] | Questar Gas [Member] | |||||||||||
Revenues [Abstract] | |||||||||||
Total Revenues | 917.6 | 960.9 | 985.8 | ||||||||
Operating Expenses [Abstract] | |||||||||||
Cost of sales | 558.1 | 604.8 | 650.6 | ||||||||
Operating and maintenance | 111.9 | 122.5 | 113.1 | ||||||||
General and administrative | 50.6 | 52.8 | 52.5 | ||||||||
Pension settlement costs | 0 | ||||||||||
Production and other taxes | 19.3 | 17.8 | 18 | ||||||||
Depreciation, depletion and amortization | 55.1 | 53.6 | 49.7 | ||||||||
Abandonment and impairment | 0 | 0 | 0 | ||||||||
Other operating expenses | 0 | ||||||||||
Total Operating Expenses | 795 | 851.5 | 883.9 | ||||||||
Net gain (loss) from asset sales | 0 | 0.1 | 0 | ||||||||
Operating Income (Loss) | 122.6 | 109.5 | 101.9 | ||||||||
Interest and other income | 4.8 | 5.9 | 5.1 | ||||||||
Income from unconsolidated affiliate | 0 | 0 | 0 | ||||||||
Interest expense | (28.3) | (28.2) | (22.3) | ||||||||
Income taxes | (34.8) | (32) | (31.9) | ||||||||
Net Income (Loss) | 64.3 | 55.2 | 52.8 | ||||||||
Additional Line-of-Business Information [Abstract] | |||||||||||
Identifiable assets | 2,126.8 | 1,917.4 | 2,126.8 | 1,917.4 | 1,759.1 | ||||||
Goodwill | 5.6 | 5.6 | 5.6 | 5.6 | 5.6 | ||||||
Investment in unconsolidated affiliate | 0 | 0 | 0 | 0 | 0 | ||||||
Cash capital expenditures, including acquisitions | 228.8 | 174.7 | 166.2 | ||||||||
Accrued capital expenditures, including acquisitions | 232.6 | 161.5 | 177.3 | ||||||||
Operating Segments [Member] | Questar Gas [Member] | From unaffiliated customers [Member] | |||||||||||
Revenues [Abstract] | |||||||||||
Total Revenues | 917.6 | 960.9 | 985.2 | ||||||||
Operating Segments [Member] | Questar Gas [Member] | From affiliated companies [Member] | |||||||||||
Revenues [Abstract] | |||||||||||
Total Revenues | 0 | 0 | 0.6 | ||||||||
Operating Segments [Member] | Wexpro [Member] | |||||||||||
Revenues [Abstract] | |||||||||||
Total Revenues | 342 | 385.9 | 339.9 | ||||||||
Operating Expenses [Abstract] | |||||||||||
Cost of sales | 0 | 0 | 0 | ||||||||
Operating and maintenance | 29.6 | 31.5 | 28.6 | ||||||||
General and administrative | 33.5 | 32.6 | 28.7 | ||||||||
Pension settlement costs | 0 | ||||||||||
Production and other taxes | 21.2 | 37.6 | 28.3 | ||||||||
Depreciation, depletion and amortization | 99.4 | 100.5 | 85.8 | ||||||||
Abandonment and impairment | 12.5 | 2 | 0 | ||||||||
Other operating expenses | 0.6 | ||||||||||
Total Operating Expenses | 196.2 | 204.2 | 172 | ||||||||
Net gain (loss) from asset sales | 1.6 | 1.6 | (0.2) | ||||||||
Operating Income (Loss) | 147.4 | 183.3 | 167.7 | ||||||||
Interest and other income | 0.9 | 1.1 | 5 | ||||||||
Income from unconsolidated affiliate | 0 | 0 | 0 | ||||||||
Interest expense | (0.2) | (0.1) | (0.1) | ||||||||
Income taxes | (49.2) | (61.5) | (62) | ||||||||
Net Income (Loss) | 98.9 | 122.8 | 110.6 | ||||||||
Additional Line-of-Business Information [Abstract] | |||||||||||
Identifiable assets | 920.6 | 970.6 | 920.6 | 970.6 | 988.3 | ||||||
Goodwill | 0 | 0 | 0 | 0 | 0 | ||||||
Investment in unconsolidated affiliate | 0 | 0 | 0 | 0 | 0 | ||||||
Cash capital expenditures, including acquisitions | 46.4 | 114.4 | 249.5 | ||||||||
Accrued capital expenditures, including acquisitions | 42.9 | 114.7 | 240.7 | ||||||||
Operating Segments [Member] | Wexpro [Member] | From unaffiliated customers [Member] | |||||||||||
Revenues [Abstract] | |||||||||||
Total Revenues | 22.9 | 35.6 | 45.1 | ||||||||
Operating Segments [Member] | Wexpro [Member] | From affiliated companies [Member] | |||||||||||
Revenues [Abstract] | |||||||||||
Total Revenues | 319.1 | 350.3 | 294.8 | ||||||||
Operating Segments [Member] | Questar Pipeline [Member] | |||||||||||
Revenues [Abstract] | |||||||||||
Total Revenues | 263 | 263.9 | 266.2 | ||||||||
Operating Expenses [Abstract] | |||||||||||
Cost of sales | 8.9 | 4 | 6.1 | ||||||||
Operating and maintenance | 37.6 | 39.3 | 37.6 | ||||||||
General and administrative | 38.9 | 38.9 | 41.6 | ||||||||
Pension settlement costs | 0 | ||||||||||
Production and other taxes | 8.8 | 9.1 | 9.3 | ||||||||
Depreciation, depletion and amortization | 54.6 | 54.5 | 55.5 | ||||||||
Abandonment and impairment | 0 | 0 | 80.6 | ||||||||
Other operating expenses | 0 | ||||||||||
Total Operating Expenses | 148.8 | 145.8 | 230.7 | ||||||||
Net gain (loss) from asset sales | 0.2 | (0.5) | 0 | ||||||||
Operating Income (Loss) | 114.4 | 117.6 | 35.5 | ||||||||
Interest and other income | 0.9 | 1.2 | 1.8 | ||||||||
Income from unconsolidated affiliate | 3.7 | 3.5 | 3.7 | ||||||||
Interest expense | (26) | (26.1) | (25.8) | ||||||||
Income taxes | (33.4) | (35.6) | (7) | ||||||||
Net Income (Loss) | 59.6 | 60.6 | 8.2 | ||||||||
Additional Line-of-Business Information [Abstract] | |||||||||||
Identifiable assets | 1,227.3 | 1,230.5 | 1,227.3 | 1,230.5 | 1,221 | ||||||
Goodwill | 4.2 | 4.2 | 4.2 | 4.2 | 4.2 | ||||||
Investment in unconsolidated affiliate | 23.9 | 24.7 | 23.9 | 24.7 | 25.6 | ||||||
Cash capital expenditures, including acquisitions | 40.6 | 59.4 | 73.4 | ||||||||
Accrued capital expenditures, including acquisitions | 39.5 | 61.3 | 70 | ||||||||
Operating Segments [Member] | Questar Pipeline [Member] | From unaffiliated customers [Member] | |||||||||||
Revenues [Abstract] | |||||||||||
Total Revenues | 187.9 | 190.2 | 189.5 | ||||||||
Operating Segments [Member] | Questar Pipeline [Member] | From affiliated companies [Member] | |||||||||||
Revenues [Abstract] | |||||||||||
Total Revenues | 75.1 | 73.7 | 76.7 | ||||||||
Corporate and Other [Member] | |||||||||||
Revenues [Abstract] | |||||||||||
Total Revenues | 6.5 | 2.6 | 0.2 | ||||||||
Operating Expenses [Abstract] | |||||||||||
Cost of sales | 1.7 | 0.9 | 0.1 | ||||||||
Operating and maintenance | 2.5 | 0.9 | 0.1 | ||||||||
General and administrative | (13.3) | (1) | (6.3) | ||||||||
Pension settlement costs | 16.7 | ||||||||||
Production and other taxes | 2 | 1.7 | 1.8 | ||||||||
Depreciation, depletion and amortization | 6.9 | 5.1 | 3.8 | ||||||||
Abandonment and impairment | 0 | 0 | 0 | ||||||||
Other operating expenses | 0 | ||||||||||
Total Operating Expenses | 16.5 | 7.6 | (0.5) | ||||||||
Net gain (loss) from asset sales | 0 | 0 | 0 | ||||||||
Operating Income (Loss) | (10) | (5) | 0.7 | ||||||||
Interest and other income | (1.4) | (1.2) | (1.3) | ||||||||
Income from unconsolidated affiliate | 0 | 0 | 0 | ||||||||
Interest expense | (9.5) | (9.1) | (9.4) | ||||||||
Income taxes | 6.8 | 3.2 | (0.4) | ||||||||
Net Income (Loss) | (14.1) | (12.1) | (10.4) | ||||||||
Additional Line-of-Business Information [Abstract] | |||||||||||
Identifiable assets | 103.1 | 125.4 | 103.1 | 125.4 | 76.2 | ||||||
Goodwill | $ 0 | 0 | $ 0 | 0 | 0 | ||||||
Investment in unconsolidated affiliate | 0 | 0 | 0 | ||||||||
Cash capital expenditures, including acquisitions | $ 14.6 | 23 | 14.6 | ||||||||
Accrued capital expenditures, including acquisitions | 13 | 22.2 | 17.6 | ||||||||
Corporate and Other [Member] | From unaffiliated customers [Member] | |||||||||||
Revenues [Abstract] | |||||||||||
Total Revenues | 6.5 | 2.6 | 0.2 | ||||||||
Corporate and Other [Member] | From affiliated companies [Member] | |||||||||||
Revenues [Abstract] | |||||||||||
Total Revenues | 0 | 0 | 0 | ||||||||
Interco. Trans. [Member] | |||||||||||
Revenues [Abstract] | |||||||||||
Total Revenues | (394.2) | (424) | (372.1) | ||||||||
Operating Expenses [Abstract] | |||||||||||
Cost of sales | (393.5) | (423.4) | (370.9) | ||||||||
Operating and maintenance | 0 | 0 | 0 | ||||||||
General and administrative | (0.7) | (0.6) | (0.6) | ||||||||
Pension settlement costs | 0 | ||||||||||
Production and other taxes | 0 | 0 | 0 | ||||||||
Depreciation, depletion and amortization | 0 | 0 | 0 | ||||||||
Abandonment and impairment | 0 | 0 | 0 | ||||||||
Other operating expenses | (0.6) | ||||||||||
Total Operating Expenses | (394.2) | (424) | (372.1) | ||||||||
Net gain (loss) from asset sales | 0 | 0 | 0 | ||||||||
Operating Income (Loss) | 0 | 0 | 0 | ||||||||
Interest and other income | (1) | (0.4) | (0.7) | ||||||||
Income from unconsolidated affiliate | 0 | 0 | 0 | ||||||||
Interest expense | 1 | 0.4 | 0.7 | ||||||||
Income taxes | 0 | 0 | 0 | ||||||||
Net Income (Loss) | 0 | 0 | 0 | ||||||||
Additional Line-of-Business Information [Abstract] | |||||||||||
Identifiable assets | $ 0 | 0 | 0 | 0 | 0 | ||||||
Goodwill | 0 | 0 | 0 | 0 | 0 | ||||||
Investment in unconsolidated affiliate | $ 0 | $ 0 | 0 | 0 | 0 | ||||||
Cash capital expenditures, including acquisitions | 0 | 0 | 0 | ||||||||
Accrued capital expenditures, including acquisitions | 0 | 0 | 0 | ||||||||
Interco. Trans. [Member] | From unaffiliated customers [Member] | |||||||||||
Revenues [Abstract] | |||||||||||
Total Revenues | 0 | 0 | 0 | ||||||||
Interco. Trans. [Member] | From affiliated companies [Member] | |||||||||||
Revenues [Abstract] | |||||||||||
Total Revenues | $ (394.2) | $ (424) | $ (372.1) |
Related-Party Transaction (Deta
Related-Party Transaction (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015USD ($)mdth | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Related Party Transaction [Line Items] | |||
Oil and NGL income sharing (in millions) | $ 0 | $ 0 | $ 0.6 |
Questar Gas [Member] | Sales [Member] | Questar Pipeline [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Revenue | 74.7 | 73.3 | 76.3 |
Questar Gas [Member] | General and Administrative Expense [Member] | Questar Pipeline [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Expense | 3.6 | 3.8 | 3.5 |
Questar Corp [Member] | General and Administrative Expense [Member] | Questar Gas [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Expense | 52.9 | 47.8 | 48.4 |
Questar Corp [Member] | General and Administrative Expense [Member] | Questar Pipeline [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Expense | 27.1 | 25.8 | 28.2 |
Questar Corp [Member] | Interest Expense [Member] | Questar Gas [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Expense | 0.4 | 0.1 | 0.5 |
Questar Corp [Member] | Interest Income [Member] | Questar Pipeline [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Revenue | 0.1 | 0.1 | 0.2 |
Questar And Other Affiliates [Member] | General and Administrative Expense [Member] | Questar Gas [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Expense | 6.7 | 6.1 | 6.7 |
Questar And Other Affiliates [Member] | General and Administrative Expense [Member] | Questar Pipeline [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Expense | $ 4 | 5 | 4.9 |
Questar Pipeline [Member] | Questar Gas [Member] | |||
Related Party Transaction [Line Items] | |||
Amount of Mdth per day reserved transportation capacity on Questar Pipeline - peak months | mdth | 916 | ||
Amount of Mdth per day reserved transportation capacity on Questar Pipeline - off-peak months | mdth | 841 | ||
Questar Pipeline [Member] | General and Administrative Expense [Member] | Questar Gas [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Expense | $ 2.8 | 3.7 | 3.7 |
Questar Pipeline [Member] | Cost of Sales [Member] | Questar Gas [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Expense | 73 | 72.9 | 73 |
Wexpro [Member] | Sales [Member] | Questar Gas [Member] | |||
Related Party Transaction [Line Items] | |||
Oil and NGL income sharing (in millions) | 0 | 0 | 0.6 |
Wexpro [Member] | Cost of Sales [Member] | Questar Gas [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Expense | $ 319 | $ 349.7 | $ 294.6 |
Asset Impairments (Details)
Asset Impairments (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Jun. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Property, Plant and Equipment [Line Items] | |||||||||
Asset impairment charge, before income taxes | $ 12.5 | $ 2 | $ 80.6 | ||||||
Net gain (loss) from asset sales | 1.8 | 1.2 | (0.2) | ||||||
Wexpro [Member] | |||||||||
Property, Plant and Equipment [Line Items] | |||||||||
Asset impairment charge, before income taxes | $ 12.1 | $ 0 | $ 0 | $ 0 | 12.1 | ||||
Wexpro [Member] | Wexpro Brady Field [Member] | |||||||||
Property, Plant and Equipment [Line Items] | |||||||||
Asset impairment charge, before income taxes | $ 2 | ||||||||
Net gain (loss) from asset sales | $ 1.4 | ||||||||
Questar Pipeline [Member] | |||||||||
Property, Plant and Equipment [Line Items] | |||||||||
Asset impairment charge, before income taxes | $ 80.6 | 0 | 0 | 80.6 | |||||
Net gain (loss) from asset sales | $ 0.2 | $ (0.5) | $ 0 | ||||||
Questar Pipeline [Member] | Questar Southern Trails Pipeline - Eastern Segment [Member] | |||||||||
Property, Plant and Equipment [Line Items] | |||||||||
Asset impairment charge, before income taxes | 80.6 | ||||||||
After-tax asset impairment charge | $ 52.4 |
Acquisitions (Details)
Acquisitions (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015USD ($)drilling_locationproducing_well | Dec. 31, 2014USD ($) | Mar. 31, 2015customer | |
Business Acquisition [Line Items] | |||
Business Acquisition, Date of Acquisition Agreement | Jan. 31, 2016 | ||
Vermillion [Member] | |||
Business Acquisition [Line Items] | |||
Producing wells | producing_well | 75 | ||
Number of future drilling locations | drilling_location | 112 | ||
Business Acquisition, Effective Date of Acquisition | Dec. 31, 2015 | ||
Business Combination, Consideration Transferred [Abstract] | |||
Net cash paid | $ 16 | ||
Eagle Mountain [Member] | |||
Business Acquisition [Line Items] | |||
Customers acquired in acquisition | customer | 6,500 | ||
Business Acquisition, Effective Date of Acquisition | Mar. 31, 2015 | ||
Business Combination, Consideration Transferred [Abstract] | |||
Net cash paid | $ 11.4 | ||
Canyon Creek [Member] | |||
Business Acquisition [Line Items] | |||
Business Acquisition, Effective Date of Acquisition | Dec. 17, 2014 | ||
Business Acquisition, Description of Acquired Entity | an additional interest in natural gas-producing properties in existing Wexpro-operated assets in the Canyon Creek Unit of southwestern Wyoming's Vermillion Basin | ||
Business Combination, Consideration Transferred [Abstract] | |||
Net cash paid | $ 52.6 | ||
Trail [Member] | |||
Business Acquisition [Line Items] | |||
Business Acquisition, Effective Date of Acquisition | Sep. 4, 2013 | ||
Business Acquisition, Date of Acquisition Agreement | Jul. 25, 2013 | ||
Business Combination, Consideration Transferred [Abstract] | |||
Net cash paid | $ 104.3 |
Quarterly Financial Informati76
Quarterly Financial Information - Unaudited (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Revenues | $ 364.7 | $ 142.3 | $ 199.3 | $ 428.6 | $ 373.2 | $ 157.9 | $ 201.3 | $ 456.9 | $ 1,134.9 | $ 1,189.3 | $ 1,220 |
Operating income | 89.8 | 62.3 | 75.3 | 147 | 111.7 | 68.9 | 76.5 | 148.3 | 374.4 | 405.4 | 305.8 |
Net income | 50.9 | 32.6 | 40.6 | 84.6 | $ 62.5 | $ 38.6 | $ 40.3 | $ 85.1 | 208.7 | 226.5 | 161.2 |
Asset impairment charge, before income taxes | 12.5 | 2 | 80.6 | ||||||||
Pension settlement costs | $ 16.7 | $ 0 | $ 0 | $ 0 | $ 16.7 | $ 0 | $ 0 | ||||
Basic earnings per common share | $ 0.29 | $ 0.18 | $ 0.23 | $ 0.48 | $ 0.36 | $ 0.22 | $ 0.23 | $ 0.48 | $ 1.18 | $ 1.29 | $ 0.92 |
Diluted earnings per common share | $ 0.29 | $ 0.18 | $ 0.23 | $ 0.48 | $ 0.35 | $ 0.22 | $ 0.23 | $ 0.48 | $ 1.18 | $ 1.29 | $ 0.92 |
Wexpro [Member] | |||||||||||
Asset impairment charge, before income taxes | $ 12.1 | $ 0 | $ 0 | $ 0 | $ 12.1 |
Supplemental Gas and Oil Info77
Supplemental Gas and Oil Information - Unaudited Capitalized Cost (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Capitalized Costs Relating to Gas and Oil Producing Activities, by Segment [Line Items] | ||
Total Wexpro capitalized costs | $ 1,654.4 | $ 1,688.4 |
Accumulated depreciation, depletion and amortization | (789.9) | (757.3) |
Net capitalized costs | 870.3 | 937.5 |
Wexpro [Member] | ||
Capitalized Costs Relating to Gas and Oil Producing Activities, by Segment [Line Items] | ||
Proved properties | 1,649.2 | 1,675.6 |
Unproved properties | 5.2 | 12.8 |
Total Wexpro capitalized costs | 1,654.4 | 1,688.4 |
Accumulated depreciation, depletion and amortization | (789.9) | (757.3) |
Net capitalized costs | 864.5 | 931.1 |
Questar Gas [Member] | ||
Capitalized Costs Relating to Gas and Oil Producing Activities, by Segment [Line Items] | ||
Net capitalized costs | $ 5.8 | $ 6.4 |
Supplemental Gas and Oil Info78
Supplemental Gas and Oil Information - Unaudited Costs Incurred (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Property Acquisition [Abstract] | |||
Unproved | $ 4.8 | $ 11.9 | $ 0.3 |
Proved | 13.8 | 54.1 | 106.4 |
Exploration (capitalized and expensed) | 0.7 | 1.6 | 0 |
Development | 27.7 | 49.1 | 133.1 |
Total costs incurred | 47 | 116.7 | 239.8 |
Cost incurred to develop proved undeveloped reserves | $ 22.5 | $ 28.9 | $ 106.3 |
Supplemental Gas and Oil Info79
Supplemental Gas and Oil Information - Unaudited Results of Operations for Oil and Gas Producing Activities (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||
Revenues [Abstract] | ||||
From unaffiliated customers | $ 22.9 | $ 35.6 | $ 45.1 | |
From affiliated company | [1] | 319.1 | 350.3 | 294.8 |
Total revenues | 342 | 385.9 | 339.9 | |
Production costs | 50.1 | 67.5 | 57.5 | |
Exploration expenses | 0.7 | 1.6 | 0 | |
Depreciation, depletion and amortization | 99.4 | 100.5 | 85.8 | |
Abandonment and impairment | 12.5 | 2 | 0 | |
Total expenses | 162.7 | 171.6 | 143.3 | |
Revenues less expenses | 179.3 | 214.3 | 196.6 | |
Income taxes | (59.6) | (71.4) | (70.5) | |
Results of operations for gas- and oil-producing activities (excluding corporate overhead and interest costs) | 119.7 | 142.9 | 126.1 | |
Reimbursement of general and administrative expenses from Questar Gas included in affiliated-company revenues | $ 28.9 | $ 30.5 | $ 27.5 | |
[1] | Primarily represents revenues received from Questar Gas pursuant to the Wexpro agreements. Revenues include reimbursement of general and administrative expenses amounting to $28.9 million in 2015, $30.5 million in 2014 and $27.5 million in 2013. |
Supplemental Gas and Oil Info80
Supplemental Gas and Oil Information - Unaudited Proved Developed and Undeveloped Oil and Gas Reserve Quantities (Details) bbl in Thousands, Mcf in Thousands, Mcfe in Millions | 12 Months Ended | |||
Dec. 31, 2015McfebblMcf | Dec. 31, 2014McfebblMcf | Dec. 31, 2013McfebblMcf | Dec. 31, 2012McfebblMcf | |
Reserve Quantities [Line Items] | ||||
Number of years for development plan | 5 years | |||
Percent of prior year-end proved undeveloped reserves converted to developed status (in hundredths) | 94.00% | 7.00% | 42.00% | |
Natural Gas (in Mcf) [Member] | ||||
Proved Reserves [Abstract] | ||||
Beginning balance (Mcf/bbl) | 566,100 | 811,200 | 697,200 | |
Revisions of previous estimates (Mcf/bbl) | (58,700) | (220,200) | (112,800) | |
Extensions and discoveries (Mcf/bbl) | 79,700 | 4,000 | 153,500 | |
Purchase of reserves in place (Mcf/bbl) | 10,800 | 35,900 | 133,900 | |
Sale of reserves in place (Mcf/bbl) | (3,200) | (500) | ||
Production (Mcf/bbl) | (62,100) | (64,300) | (60,600) | |
Ending balance (Mcf/bbl) | 532,600 | 566,100 | 811,200 | |
Proved Developed Reserves [Abstract] | ||||
Proved Developed Reserves (Mcf/bbl) | 453,300 | 552,900 | 560,000 | 523,900 |
Proved Undeveloped Reserves [Abstract] | ||||
Proved Undeveloped Reserves (Mcf/bbl) | 79,300 | 13,200 | 251,200 | 173,300 |
Oil and NGL (in bbl) [Member] | ||||
Proved Reserves [Abstract] | ||||
Beginning balance (Mcf/bbl) | bbl | 4,731 | 5,617 | 6,169 | |
Revisions of previous estimates (Mcf/bbl) | bbl | (1,424) | (442) | (1,348) | |
Extensions and discoveries (Mcf/bbl) | bbl | 320 | 205 | 857 | |
Purchase of reserves in place (Mcf/bbl) | 29 | 157 | 556 | |
Sale of reserves in place (Mcf/bbl) | 0 | (219) | ||
Production (Mcf/bbl) | bbl | (464) | (587) | (617) | |
Ending balance (Mcf/bbl) | bbl | 3,192 | 4,731 | 5,617 | |
Proved Developed Reserves [Abstract] | ||||
Proved Developed Reserves (Mcf/bbl) | bbl | 2,885 | 4,678 | 4,384 | 4,967 |
Proved Undeveloped Reserves [Abstract] | ||||
Proved Undeveloped Reserves (Mcf/bbl) | bbl | 307 | 53 | 1,233 | 1,202 |
Natural Gas Equivalents (in Mcfe) [Member] | ||||
Proved Reserves [Abstract] | ||||
Beginning balance (Mcfe) | Mcfe | 594.5 | 844.9 | 734.2 | |
Revisions of previous estimates (Mcfe) | Mcfe | (67.2) | (222.7) | (120.8) | |
Extensions and discoveries (Mcfe) | Mcfe | 81.6 | 5.2 | 158.6 | |
Purchase of reserves in place (Mcfe) | Mcfe | 11 | 36.8 | 137.2 | |
Sale of reserves in place (Mcfe) | Mcfe | (3.2) | (1.9) | ||
Production (Mcfe) | Mcfe | (64.9) | (67.8) | (64.3) | |
Ending balance (Mcfe) | Mcfe | 551.8 | 594.5 | 844.9 | |
Proved Developed Reserves [Abstract] | ||||
Proved Developed Reserves (Mcfe) | Mcfe | 470.7 | 581 | 586.3 | 553.7 |
Proved Undeveloped Reserves [Abstract] | ||||
Proved Undeveloped Reserve (Mcfe) | Mcfe | 81.1 | 13.5 | 258.6 | 180.5 |
Supplemental Gas and Oil Info81
Supplemental Gas and Oil Information - Unaudited Standardized Measure of Discounted Future Net Cash Flows (Details) - Non-Cost-of-Service Gas and Oil Reserves [Member] Mcfe in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2015USD ($)Mcfe | Dec. 31, 2014USD ($)Mcfe | |
Discounted Future Net Cash Flows Relating to Non-Cost-of-Service Proved Reserves [Line Items] | ||||
Ending non-cost-of-service proved reserves (Mcfe) | Mcfe | 10.4 | 36.6 | ||
Standardized Measure of Discounted Future Net Cash Flows Relating to Non-Cost-of-Service Proved Reserves [Abstract] | ||||
Future cash inflows | $ 29.5 | $ 190.7 | ||
Future production costs | (15.7) | (65.9) | ||
Future income tax expenses | (4.8) | (43.7) | ||
Future net cash flows | 9 | 81.1 | ||
10% annual discount for estimated timing of net cash flows | (3.6) | (34.4) | ||
Standardized measure of discounted future net cash flows | $ 46.7 | $ 0 | $ 5.4 | $ 46.7 |
Principal Sources of Change in Standardized Measure of Discounted Future Net Cash Flow Relating to Non-Cost-of-Service Proved Reserves [Abstract] | ||||
Balance at beginning of year | 46.7 | 0 | ||
Net increase due to purchases of reserves in place | 6 | 46.8 | ||
Transfer to cost-of-service properties | (25.9) | 0 | ||
Sales of gas and oil produced during the period, net of production costs | (8.4) | (1.5) | ||
Net change in prices and production costs related to future production | (31) | 0.8 | ||
Revisions of Previous Quantity Estimates | (0.4) | 0 | ||
Accretion of discount | 6.7 | 0.6 | ||
Changes in Future Income Tax Expense Estimates on Future Cash Flows Related to Proved Oil and Gas Reserves | 11.7 | 0 | ||
Net Change | (41.3) | 46.7 | ||
Balance at end of year | $ 5.4 | $ 46.7 |
Schedule of Valuation and Qua82
Schedule of Valuation and Qualifying Accounts (Details) - Allowance for Bad Debt [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Beginning Balance | $ 1.7 | $ 1.7 | $ 3.1 |
Amounts charged to expense | 2.1 | 1.7 | 0.2 |
Deductions for accounts written off and other | (1.7) | (1.7) | (1.6) |
Ending Balance | 2.1 | 1.7 | 1.7 |
Questar Gas [Member] | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Beginning Balance | 1.4 | 1.4 | 2.8 |
Amounts charged to expense | 2.1 | 1.7 | 0.2 |
Deductions for accounts written off and other | (1.8) | (1.7) | (1.6) |
Ending Balance | 1.7 | 1.4 | 1.4 |
Questar Pipeline [Member] | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Beginning Balance | 0.3 | 0.3 | 0.3 |
Amounts charged to expense | 0 | 0 | 0 |
Deductions for accounts written off and other | 0.1 | 0 | 0 |
Ending Balance | $ 0.4 | $ 0.3 | $ 0.3 |