QEP Resources, Inc.

    Print Page | Close Window

SEC Filings

8-K
QEP RESOURCES, INC. filed this Form 8-K on 04/25/2018
Entire Document
 


QEP RESOURCES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
 
March 31,
2018
 
December 31,
2017
ASSETS
(in millions)
Current Assets
 
 
 
Cash and cash equivalents
$

 
$

Accounts receivable, net
130.2

 
142.1

Income tax receivable
4.7

 
4.9

Fair value of derivative contracts
3.2

 
3.4

Hydrocarbon inventories, at lower of average cost or net realizable value
2.1

 
3.6

Prepaid expenses
9.4

 
10.7

Other current assets
0.2

 
0.7

Total Current Assets
149.8

 
165.4

Property, Plant and Equipment (successful efforts method for oil and gas properties)
 
 
 
Proved properties
12,676.1

 
12,470.9

Unproved properties
1,073.7

 
1,095.8

Gathering and other
383.4

 
319.7

Materials and supplies
38.4

 
37.8

Total Property, Plant and Equipment
14,171.6

 
13,924.2

Less Accumulated Depreciation, Depletion and Amortization
 

 
 

Exploration and production
6,660.8

 
6,642.9

Gathering and other
130.6

 
124.3

Total Accumulated Depreciation, Depletion and Amortization
6,791.4


6,767.2

Net Property, Plant and Equipment
7,380.2


7,157.0

Fair value of derivative contracts
4.5

 
0.1

Other noncurrent assets
74.1

 
72.3

TOTAL ASSETS
$
7,608.6


$
7,394.8

 
 
 
 
LIABILITIES AND EQUITY
 
 
 
Current Liabilities
 
 
 
Checks outstanding in excess of cash balances
$
19.8

 
$
44.0

Accounts payable and accrued expenses
400.9

 
364.6

Production and property taxes
31.9

 
31.6

Interest payable
33.4

 
26.0

Fair value of derivative contracts
116.9

 
103.6

Asset retirement obligations
10.1

 
7.5

Total Current Liabilities
613.0


577.3

Long-term debt
2,458.1

 
2,160.8

Deferred income taxes
504.0

 
518.0

Asset retirement obligations
200.4

 
206.6

Fair value of derivative contracts
32.8

 
31.8

Other long-term liabilities
103.6

 
102.4

Commitments and contingencies
 
 
 
EQUITY
 
 
 
Common stock – par value $0.01 per share; 500.0 million shares authorized;  240.3 million and 243.0 million shares issued, respectively
2.4

 
2.4

Treasury stock – 2.6 million and 2.0 million shares, respectively
(39.5
)
 
(34.2
)
Additional paid-in capital
1,408.0

 
1,398.2

Retained earnings
2,336.3

 
2,442.6

Accumulated other comprehensive income (loss)
(10.5
)
 
(11.1
)
Total Common Shareholders' Equity
3,696.7


3,797.9

TOTAL LIABILITIES AND EQUITY
$
7,608.6


$
7,394.8


11