QEP Resources, Inc.

    Print Page | Close Window

SEC Filings

10-Q
QEP RESOURCES, INC. filed this Form 10-Q on 07/25/2018
Entire Document
 


QEP RESOURCES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
 
Six Months Ended
 
June 30,
 
2018
 
2017
OPERATING ACTIVITIES
(in millions)
Net income (loss)
$
(389.6
)
 
$
122.3

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation, depletion and amortization
438.7

 
383.3

Deferred income taxes (benefit)
(120.5
)
 
67.2

Impairment
404.4

 
0.1

Share-based compensation
23.4

 
7.7

Amortization of debt issuance costs and discounts
2.6

 
3.1

Bargain purchase gain from acquisition

 
0.4

Net (gain) loss from asset sales, inclusive of restructuring costs
0.4

 
(19.8
)
Unrealized (gains) losses on marketable securities
(0.4
)
 
(1.4
)
Unrealized (gains) losses on derivative contracts
43.6

 
(277.6
)
Changes in operating assets and liabilities
(25.7
)
 
10.7

Net Cash Provided by (Used in) Operating Activities
376.9

 
296.0

INVESTING ACTIVITIES
 
 
 
Property acquisitions
(45.1
)
 
(76.6
)
Property, plant and equipment, including exploratory well expense
(764.3
)
 
(477.9
)
Proceeds from disposition of assets
48.8

 
2.3

Net Cash Provided by (Used in) Investing Activities
(760.6
)

(552.2
)
FINANCING ACTIVITIES
 
 
 
Checks outstanding in excess of cash balances
(35.5
)
 
(0.5
)
Long-term debt issuance costs paid

 
(1.1
)
Proceeds from credit facility
2,029.5

 

Repayments of credit facility
(1,543.5
)
 

Common stock repurchased and retired
(58.4
)
 

Treasury stock repurchases
(5.9
)
 
(6.4
)
Other capital contributions
0.2

 

Net Cash Provided by (Used in) Financing Activities
386.4

 
(8.0
)
Change in cash, cash equivalents and restricted cash
2.7


(264.2
)
Beginning cash, cash equivalents and restricted cash(1)
23.4

 
465.4

Ending cash, cash equivalents and restricted cash(1)
$
26.1

 
$
201.2

 
 
 
 
Supplemental Disclosures:
 
 
 
Cash paid for interest, net of capitalized interest
$
63.5

 
$
64.3

Cash paid for income taxes, net
$
0.2

 
$

Non-cash Investing Activities:
 
 
 
Change in capital expenditure accruals and other non-cash adjustments
$
20.2

 
$
42.4

____________________________
(1) 
Refer to New Accounting Pronouncements in Note 1 – Basis of Presentation.

Refer to Notes accompanying the Condensed Consolidated Financial Statements.

6