Document and Entity Information (USD $)
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12 Months Ended | ||
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Dec. 31, 2014
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Jan. 31, 2015
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Jun. 30, 2014
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Document and Entity Information [Abstract] | |||
Entity Registrant Name | QEP RESOURCES, INC. | ||
Entity Central Index Key | 0001108827 | ||
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 Common Stock, Shares Outstanding | 175,549,934 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2014 | ||
Entity Public Float | $ 6,213,156,302 |
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If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition
Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K. No definition available.
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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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- Definition
Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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- Definition
Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Exploration expenses (including prospecting) related to oil and gas producing entities and would be included in operating expenses of that entity. Costs incurred in identifying areas that may warrant examination and in examining specific areas that are considered to have prospects of containing oil and gas reserves, including costs of drilling exploratory wells and exploratory-type stratigraphic test wells. Exploration costs may be incurred both before acquiring the related property (sometimes referred to in part as prospecting costs) and after acquiring the property. Principal types of exploration costs, which include depreciation and applicable operating costs of support equipment and facilities and other costs of exploration activities, are: (i) Costs of topographical, geographical and geophysical studies, rights of access to properties to conduct those studies, and salaries and other expenses of geologists, geophysical crews, and others conducting those studies. Collectively, these are sometimes referred to as geological and geophysical or "G&G" costs. (ii) Costs of carrying and retaining undeveloped properties, such as delay rentals, ad valorem taxes on properties, legal costs for title defense, and the maintenance of land and lease records. (iii) Dry hole contributions and bottom hole contributions. (iv) Costs of drilling and equipping exploratory wells. (v) Costs of drilling exploratory-type stratigraphic test wells. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate gain on all derivative instruments recognized in earnings during the period, before tax effects. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Cost incurred related to the gas activities, such as transportation, marketing and processing crude oil, natural gas and refined petroleum products. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Revenue related to midstream and downstream gas activities. May include the following: gathering from wells, processing to remove impurities, storage, transmission, and the sale of natural gas and related products. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of operating interest income, including, but not limited to, amortization and accretion of premiums and discounts on securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of lease operating expense related to property used in oil and gas production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Midstream refers to those gas industry activities that fall between exploration and production (upstream) and refining and marketing (downstream). It may be applied to the gathering, processing, transmission and storage of natural gas; including the treating of natural gas to remove impurities, along with the sale of by-products such as residue gas, natural gas liquids and condensate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Revenue from natural gas production during the reporting period. Natural gas consists largely of the hydrocarbon methane, and is found in underground formations either by itself or with crude oil. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Revenue from sale of residue oil and condensate, which normally exists in the reservoir as gas but condenses out as a liquid during production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate revenue during the period related to oil and gas business activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition
A tax assessed on oil and gas production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Cost incurred related to the downstream oil and gas activities, including refining of crude oil and marketing and distribution of crude oil, refined petroleum products, and natural gas. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Revenue related to the downstream oil and gas activities, including the refining of crude oil, as well as the marketing and distribution of crude oil, refined petroleum products, and natural gas. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Cost incurred during the reporting period in transporting goods and services to customers. Includes freight-out costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)
In Millions, unless otherwise specified |
12 Months Ended | |||||||||||||||
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Dec. 31, 2014
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Dec. 31, 2013
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Dec. 31, 2012
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Statement of Comprehensive Income [Abstract] | ||||||||||||||||
Net income attributable to QEP | $ 784.4 | $ 159.4 | $ 128.3 | |||||||||||||
Other comprehensive income, (loss), net of tax: | ||||||||||||||||
Reclassification of previously deferred derivative (gains) losses | 0 | [1] | (77.6) | [1] | (171.1) | [1] | ||||||||||
Pension and other postretirement plans adjustments: | ||||||||||||||||
Current year net actuarial gain (loss) | (13.6) | [2] | 13.5 | [2] | (10.0) | [2] | ||||||||||
Amortization of net actuarial loss | 0.5 | [3] | 1.5 | [3] | 1.1 | [3] | ||||||||||
Amortization of net prior service cost | 9.7 | [4] | 3.3 | [4] | 3.5 | [4] | ||||||||||
Net curtailment and settlements cost incurred | 5.6 | [5] | 0 | [5] | 1.4 | [5] | ||||||||||
Total pension and other postretirement plans adjustments | 2.2 | 18.3 | (4.0) | |||||||||||||
Other comprehensive income (loss) | 2.2 | (59.3) | (175.1) | |||||||||||||
Comprehensive income (loss) attributable to QEP | $ 786.6 | $ 100.1 | $ (46.8) | |||||||||||||
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- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after tax of (increase) decrease in the value of the projected benefit obligation related to a change in an actuarial assumption and increase (decrease) in the value of the plan assets resulting from experience different from that assumed, that has not been recognized in net periodic benefit (cost) credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after tax of reclassification adjustment from accumulated other comprehensive (income) loss for prior service cost (credit) related to pension and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after tax of gain (loss) adjustment to other comprehensive income (loss) resulting from settlement or curtailment of defined benefit pension and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after tax and reclassification adjustments, of (increase) decrease in accumulated other comprehensive (income) loss related to pension and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after tax of reclassification adjustment from accumulated other comprehensive income of accumulated gain (loss) realized from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after tax of reclassification adjustment from accumulated other comprehensive income (loss) for actuarial gain (loss) related to pension and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
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Dec. 31, 2014
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Dec. 31, 2013
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Dec. 31, 2012
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Other comprehensive income (loss), tax | |||
Tax benefit (expense) on gains (losses) on changes in unrealized fair value of derivatives designated as cash flow hedges | $ 45.9 | $ 101.3 | |
Pension and other postretirement plans adjustments: | |||
Tax expense on prior service cost incurred | (6.0) | (2.1) | (2.2) |
Tax expense on net curtailment and settlements cost incurred | (3.5) | (0.8) | |
Current year net actuarial gain loss [Member]
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Pension and other postretirement plans adjustments: | |||
Tax benefit (expense) on net unamortized gain (loss) incurred | 8.5 | (8.3) | 6.3 |
Amortization net actuarial gain loss [Member] [Member]
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Pension and other postretirement plans adjustments: | |||
Tax benefit (expense) on net unamortized gain (loss) incurred | $ (0.3) | $ (0.9) | $ (0.9) |
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- Definition
Other Comprehensive Income Loss Pension And Other Postretirement Benefits Net Curtailment And Settlements Tax No definition available.
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- Definition
Amount of tax expense (benefit) related to (increase) decrease in the value of the projected benefit obligation related to a change in an actuarial assumption and increase (decrease) in the value of the plan assets resulting from experience different from that assumed, that has not been recognized in net periodic benefit (cost) credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of tax (expense) benefit of reclassification adjustment from accumulated other comprehensive (income) loss for prior service cost (credit) related to pension and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of tax expense (benefit), after reclassification adjustments, of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying value as of the balance sheet date of obligations incurred and payable for real and property taxes. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Noncurrent portion of the carrying amount of a liability for an asset retirement obligation. An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount classified as assets attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying value as of the balance sheet date of payments made in excess of existing cash balances, which will be honored by the bank but reflected as a loan to the entity. Overdrafts generally have a very short time frame for correction or repayment and are therefore more similar to short-term bank financing than trade financing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards, net of deferred tax liability attributable to taxable temporary differences expected to be realized or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of deferred tax liability attributable to taxable temporary differences, net of deferred tax asset attributable to deductible temporary differences and carryforwards net of valuation allowances expected to be realized or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of deferred tax liability attributable to taxable temporary differences, net of deferred tax asset attributable to deductible temporary differences and carryforwards net of valuation allowances expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Carrying amount as of the balance sheet date of the asset arising from derivative instruments and hedging activities, which are expected to be converted into cash or otherwise disposed of within a year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum as of the balance sheet date of the (a) fair values of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and (b) the carrying amounts of the liabilities arising from financial instruments or contracts used to mitigate a specified risk (hedge), and which are expected to be extinguished or otherwise disposed of within a year or the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount as of the balance sheet date of the assets arising from derivative contracts and hedging activities, which are expected to be converted into cash or otherwise disposed of after a year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount classified as other assets attributable to disposal group held for sale or disposed of, expected to be disposed of after one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies relating to a source of usable power held for future sale or future use in manufacturing or production process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying amount as of the balance sheet date of inventories of minerals, materials and supplies related to long-term drilling operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount classified as liabilities attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount classified as liabilities attributable to disposal group held for sale or disposed of, expected to be disposed of beyond one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of accumulated depreciation, depletion and amortization of oil and gas property carried under the successful effort method. Oil and gas property include, but not limited to, the entity's wells and related equipment and facilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount before accumulated depreciation, depletion and amortization of other physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cumulative amount of depreciation (related to capitalized assets classified as property, plant and equipment not otherwise defined in the taxonomy) that has been recognized in the income statement. No definition available.
|
X | ||||||||||
- Definition
Oil and Gas properties with proved reserves under the successful effort method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Cash and equivalents whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Oil and Gas properties with unproved reserves under the successful effort method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)
In Millions, except Per Share data, unless otherwise specified |
Dec. 31, 2014
|
Dec. 31, 2013
|
---|---|---|
EQUITY | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 500 | 500 |
Common stock, shares issued (in shares) | 176.2 | 179.7 |
Treasury stock (in shares) | 0.8 | 0.4 |
X | ||||||||||
- Definition
Face amount or stated value per share of common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Treasury stock issued for charitable contributions No definition available.
|
X | ||||||||||
- Definition
The effective portion of net gain (loss) reclassified from accumulated other comprehensive income into income on derivative instruments designated and qualifying as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of paid and unpaid cash, stock, and paid-in-kind (PIK) dividends declared, for example, but not limited to, common and preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Decrease in noncontrolling interest balance from payment of dividends or other distributions by the non-wholly owned subsidiary or partially owned entity, included in the consolidation of the parent entity, to the noncontrolling interest holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of the reduction or elimination during the period of a noncontrolling interest resulting from the parent's loss of control and deconsolidation of the entity in which one or more outside parties had a noncontrolling interest. No definition available.
|
X | ||||||||||
- Definition
Amount after tax and reclassification adjustments, of (increase) decrease in accumulated other comprehensive (income) loss related to pension and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow associated with the amount received from entity's first offering of stock to the public. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of shares (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of any shares forfeited. Shares issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of treasury shares (units) reissued during the period, excluding reissuance of shares (units) held in treasury used to satisfy equity-based compensation obligations exercised by the holders of such rights. Upon reissuance of shares (units) from treasury, either the common or preferred stock (unit) reissued is outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Value of stock (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of stock value of such awards forfeited. Stock issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Equity impact of the value of treasury stock (units) reissued during the period, excluding reissuance of shares (units) held in treasury used to satisfy equity-based compensation obligations exercised by the holders of such rights. Upon reissuance of shares (units) from treasury, either the common or preferred stock (unit) reissued is outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of shares that have been repurchased and retired during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Equity impact of the value of stock that has been repurchased and retired during the period. The excess of the purchase price over par value can be charged against retained earnings (once the excess is fully allocated to additional paid in capital). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
acquisition deposit held in escrow No definition available.
|
X | ||||||||||
- Definition
Depreciation, Depletion and Amortization Including Discontinued Operations No definition available.
|
X | ||||||||||
- Definition
Income Loss From Equity Method Investments Including Discontinued Operations No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of noncash expense included in interest expense to allocate debt discount and premium, and the costs to issue debt and obtain financing over the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents disclosure of the amount of dividends or other distributions received from unconsolidated subsidiaries, certain corporate joint ventures, and certain noncontrolled corporation; these investments are accounted for under the equity method of accounting. This element excludes distributions that constitute a return of investment, which are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of cash inflow from realized tax benefit related to deductible compensation cost reported on the entity's tax return for equity instruments in excess of the compensation cost for those instruments recognized for financial reporting purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of gain (loss) on sale or disposal of property, plant and equipment assets, excluding oil and gas property and timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the amounts payable to taxing authorities for taxes that are based on the reporting entity's earnings, net of amounts receivable from taxing authorities for refunds of overpayments or recoveries of income taxes. No definition available.
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period of all assets and liabilities used in operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in other current operating assets less other current operating liabilities not separately disclosed in the statement of cash flows. No definition available.
|
X | ||||||||||
- Definition
The change in cash during the period due to the net increase or decrease in outstanding checks, the liability that represents checks that have been issued but that have not cleared. The entity may classify these cash flows as financing or operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net cash outflow or inflow from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow to reacquire other equity not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow to purchase long lived physical asset use for the normal oil and gas operations and not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow to purchase of mineral interests in oil and gas properties for use in the normal oil and gas operations and not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of cash outflow to a noncontrolling interest. Includes, but not limited to, reduction of noncontrolling interest ownership. Excludes dividends paid to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow associated with the amount received from entity's first offering of stock to the public. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow from other equity not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow to dispose of long-lived, physical assets and mineral interests in oil and gas properties used for normal oil and gas operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of cash outflow for payment of an obligation from a lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow for a long-term debt where the holder has highest claim on the entity's asset in case of bankruptcy or liquidation during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Write-off of amounts previously capitalized as debt issuance cost in an extinguishment of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Summary of Significant Accounting Policies
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
|
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Summary of Significant Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Significant Accounting Policies | Nature of Business QEP Resources, Inc. (QEP or the Company) is a holding company with two subsidiaries, QEP Energy Company and QEP Marketing Company, which are engaged in two primary lines of business: (i) oil and gas exploration and production (QEP Energy) and (ii) oil and gas marketing, operation of the Haynesville Gathering System and an underground gas storage reservoir (QEP Marketing and Other). QEP's operations are focused in two geographic regions: the Northern Region (primarily in Wyoming, North Dakota and Utah) and the Southern Region (primarily in Texas and Louisiana) of the United States. QEP's corporate headquarters are located in Denver, Colorado. In October 2014, the Company announced that its wholly owned subsidiary, QEP Field Services Company (QEP Field Services), had entered into a definitive agreement to sell substantially all of its midstream business, including the Company's ownership interest in QEP Midstream Partners, LP (QEP Midstream), to Tesoro Logistics LP (Tesoro). On December 2, 2014, QEP closed the sale of its midstream business to Tesoro (Midstream Sale) for total cash proceeds of $2.5 billion, including $230.0 million to refinance debt at QEP Midstream, subject to post-closing adjustments, and QEP recorded a pre-tax gain of $1.8 billion on its Consolidated Statements of Operations in "Net income from discontinued operations, net of income tax" for the year ended December 31, 2014. The decision to sell the midstream business was the result of the Company’s ongoing review of strategic alternatives to maximize shareholder value. QEP Marketing retained ownership of the Haynesville Gathering System. As a result of the Midstream Sale, the QEP Field Services reporting segment, excluding the retained ownership of the Haynesville Gathering System, has been classified as a discontinued operation on the Consolidated Statement of Operations and the Notes accompanying the Consolidated Financial Statements. For reporting purposes, the Haynesville Gathering System, which was retained by QEP Marketing, has been combined with QEP Marketing and Other. Shares of QEP’s common stock trade on the New York Stock Exchange under the ticker symbol “QEP”. Principles of Consolidation The Consolidated Financial Statements contain the accounts of QEP and its majority-owned or controlled subsidiaries. The Consolidated Financial Statements were prepared in accordance with GAAP and with the instructions for annual reports on Form 10-K and Regulations S-X and S-K. All significant intercompany accounts and transactions have been eliminated in consolidation. All dollar and share amounts in this Annual Report on Form 10-K are in millions, except per-share information and where otherwise noted. Reclassifications The 2013 and 2012 financial information has been recast so that the basis of presentation is consistent with that of the 2014 financial information. This recast reflects the financial condition and results of operations of QEP Field Services, excluding the Haynesville Gathering System, as discontinued operations for all periods presented. For reporting purposes, the retained Haynesville Gathering System has been combined with QEP Marketing and Other. For a summary of discontinued operations see Note 3 - Discontinued Operations. Use of Estimates The preparation of the Consolidated Financial Statements and Notes in conformity with GAAP requires that management formulate estimates and assumptions that affect revenues, expenses, assets, liabilities and the disclosure of contingent assets and liabilities. A significant item that requires management's estimates and assumptions is the estimate of proved gas, oil and NGL reserves which are used in the calculation of depreciation, depletion and amortization rates of its oil and gas properties, impairment of proved properties and asset retirement obligations. Changes in estimated quantities of its reserves could impact the Company's reported financial results as well as disclosures regarding the quantities and value of proved oil and gas reserves. Other items subject to estimates and assumptions include the carrying amount of property, plant and equipment, assigning fair value and allocating purchase price in connection with business combinations, valuation allowances for receivables, income taxes, valuation of derivatives instruments, accrued liabilities, accrued revenue and related receivables and obligations related to employee benefits, among others. Although management believes these estimates are reasonable, actual results could differ from these estimates. Risks and Uncertainties The Company’s revenue, profitability and future growth are substantially dependent upon the prevailing and future prices for gas, oil and NGL, each of which depend on numerous factors beyond the Company’s control such as economic conditions, regulatory developments, global supply and demand and competition from other energy sources. The energy markets historically have been volatile and oil and gas prices at the end of 2014 and during the first part of 2015 have been substantially lower than recent historical averages, and may be subject to significant fluctuations in the future. The Company’s derivative contracts serve to mitigate a portion of the effect of this price volatility on the Company’s cash flows, and the Company has derivative contracts in place for a portion of its expected 2015 and 2016 oil and gas production. See Note 7 - Derivative Contracts for the Company’s open oil and gas commodity derivative contracts. The Company is dependent on cash on hand, availability under its credit facility, along with cash flows from operating activities, to fund its capital expenditures. Based on its current cash on hand, anticipated oil and gas prices and availability under its credit facility, the Company expects to be able to fund its planned capital expenditures and operating expenses for 2015. However, a substantial or extended decline in oil and gas prices could have an adverse effect on the Company’s financial position, results of operations, cash flows and quantities of oil and gas reserves that may be economically produced, and could impact the Company’s ability to comply with the financial covenants under the credit facility and could limit further borrowings to fund capital expenditures. Additionally, as forward prices have continued to decline during 2015, there could be additional impairment charges to our oil and gas assets or other investments. Revenue Recognition QEP subsidiaries recognize revenues in the period that services are provided or products are delivered. Revenues associated with the sale of oil, gas and NGL are accounted for using the sales method, whereby revenue is recognized as oil, gas and NGL is sold to purchasers. A liability is recorded in the event that the Company has sold volumes in excess of its share of remaining oil and gas reserves in an underlying property. QEP's imbalance obligations at December 31, 2014 and 2013, were $7.9 million and $10.7 million, respectively. QEP Marketing reports revenues on a gross basis because, in the judgment of management, the nature and circumstances of its marketing transactions are consistent with guidance for gross revenue reporting. QEP Marketing markets affiliate and third-party gas, oil and NGL volumes. QEP Marketing uses derivatives to secure a known price for a specific volume over a specific time period. QEP Marketing does not engage in speculative hedging transactions, nor does it buy and sell energy contracts with the objective of generating profits on short-term differences in price. QEP Marketing has not engaged in buy/sell arrangements, as described in ASC 845-10-25-4, Accounting for Purchases and Sales of Inventory with the Same Counterparty. In most states in which QEP Energy operates, QEP pays production taxes based on a percentage of field-level revenue, except in Louisiana, where severance taxes are volume based. Cash and Cash Equivalents and Restricted Cash Cash equivalents consist principally of highly liquid investments in securities with maturities of three months or less made through commercial-bank accounts that result in available funds the next business day. As of December 31, 2014, none of QEP's cash and cash equivalents were restricted. As of December 31, 2013, QEP's restricted cash balance was $50.0 million, which consisted of a deposit paid by QEP that was held in escrow for an acquisition (see Note 2 - Acquisitions and Divestitures for further discussion on the acquisition). The cash payment is shown in investing activities on the Consolidated Statements of Cash Flows. Supplemental cash flow information is shown in the below table:
Accounts Receivable Trade Accounts receivable trade consists mainly of receivables from oil and gas purchasers and joint interest owners on properties the Company operates. For receivables from joint interest owners, the Company has the ability to withhold future revenue disbursements to recover any non-payment of joint interest billings. Generally, the Company's oil and gas receivables are collected and bad debts are minimal. Bad debt expense associated with accounts receivable for the years ended December 31, 2014, 2013 and 2012, was $2.1 million, $0.1 million, and $1.3 million, respectively. The Company routinely assesses the recoverability of all material trade and other receivables to determine their collectability. The allowance for bad debt expenses was $4.6 million at December 31, 2014 and $2.2 million at December 31, 2013. Property, Plant and Equipment Property, plant and equipment balances are stated at historical cost. Material and supplies inventories are valued at the lower of cost or market. Maintenance and repair costs are expensed as incurred. Significant accounting policies for our property, plant and equipment are as follows: Oil and gas properties The Company follows the successful efforts method of accounting for oil and gas property acquisitions, exploration, development and production activities. Under this method, the acquisition costs of proved and unproved properties, successful exploratory wells and development wells are capitalized. Other exploration costs, including geological and geophysical costs, delay rentals and administrative costs associated with unproved property and unsuccessful exploratory well costs are expensed. Costs to operate and maintain wells and field equipment are expensed as incurred. A gain or loss is generally recognized only when an entire field is sold or abandoned, or if the unit-of-production depreciation, depletion and amortization rate would be significantly affected. Capitalized costs of unproved properties are reclassified to proved property when related proved reserves are determined or charged against the impairment allowance when abandoned. Capitalized exploratory well costs The Company capitalizes exploratory well costs until it determines whether an exploratory well is commercial or noncommercial. If the Company deems the well commercial, capitalized costs are depreciated on a field basis using the unit-of-production method and the estimated proved developed oil and gas reserves. If the Company concludes that the well is noncommercial, well costs are immediately charged to exploration expense. Exploratory well costs that have been capitalized for a period greater than one year since the completion of drilling are expensed unless the Company remains engaged in substantial activities to assess whether the well is commercial. Depreciation, depletion and amortization Capitalized proved leasehold costs are depleted on a field-by-field basis using the unit-of-production method and the estimated proved oil and gas reserves. Capitalized costs of exploratory wells that have found proved oil and gas reserves and capitalized development costs are depreciated using the unit-of-production method based on estimated proved developed reserves for a successful effort field. The Company capitalizes an estimate of the fair value of future abandonment costs. Depreciation, depletion and amortization for the Company's remaining properties is generally based upon rates that will systematically charge the costs of assets against income over the estimated useful lives of those assets using the straight-line method. The estimated useful lives of those assets depreciated under the straight-line basis generally range as follows:
Impairment of Long-Lived Assets Proved oil and gas properties are evaluated on a field-by-field basis for potential impairment. Impairment is indicated when a triggering event occurs and/or 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 oil and gas reserves caused by mechanical problems, faster-than-expected decline of reserves, lease ownership issues, and other than temporary declines in gas, oil and NGL prices. If impairment is indicated, fair value is calculated using a discounted-cash flow approach. Cash flow estimates require forecasts and assumptions for many years into the future for a variety of factors, including commodity prices, operating costs, and estimates of proved, probable and possible reserves. Cash flow estimates relating to future cash flows from probable and possible reserves are reduced by additional risk-weighting factors. Unproved properties are evaluated on a specific-asset basis or in groups of similar assets, as applicable. The Company performs periodic assessments of unproved oil and gas properties for impairment and recognizes a loss at the time of impairment. In determining whether an unproved property is impaired, the Company considers numerous factors including, but not limited to, current development and exploration drilling plans, favorable or unfavorable exploration activity on adjacent leaseholds, in-house geologists' evaluation of the lease, future reserve cash flows and the remaining lease term. During the year ended December 31, 2014, QEP recorded impairment charges of $1,143.2 million, of which $1,041.4 million related to price-related impairment charges on proved properties and $101.8 million related to impairment on unproved properties due to lower future prices, lease expirations and changes in drilling plans. Of the $1,143.2 million property impairment charges incurred during the year ended December 31, 2014, $1,116.8 million related to oil and gas properties in the Southern Region and $26.4 million related to oil and gas properties in the Northern Region. During the year ended December 31, 2013, QEP recorded impairment charges of $93.0 million, of which $1.2 million was related to price-related impairment charges on proved properties and $32.3 million was related to impairment on unproved properties due to lease expirations and changes in drilling plans. An additional $59.5 million of impairment was recorded due to the write-off of goodwill (see Goodwill section within this note for additional information). Of the $33.5 million of property impairment charges incurred during the year ended December 31, 2013, $17.5 million related to oil and gas properties in the Southern Region and $16.0 million related to oil and gas properties in the Northern Region. During the year ended December 31, 2012, QEP recorded impairment charges of $133.0 million on its oil and gas properties. Of the $133.0 million charges during the year ended December 31, 2012, $107.6 million related to price-related impairment charges on proved properties and $25.4 million related to impairment on unproved properties. The impairment charges reflect the reduced value of certain fields resulting from lower gas, oil and NGL prices and impairments of unproven leasehold acquisition costs. Of the $133.0 million impairment charges during the year ended December 31, 2012, $104.7 million related to oil and gas properties in the Southern Region and $28.3 million related to oil and gas properties in the Northern Region. Asset Retirement Obligations QEP is obligated to fund the costs of disposing of long-lived assets upon their abandonment. The majority of QEP's asset retirement obligations (ARO) relate to the plugging of wells and the related abandonment of oil and gas properties. ARO associated with the retirement of tangible long-lived assets are recognized as liabilities with an increase to the carrying amounts of the related long-lived assets in the period incurred. The cost of the tangible asset, including the asset retirement costs, is depreciated over the useful life of the asset. ARO are recorded at estimated fair value, measured by reference to the expected future cash outflows required to satisfy the retirement obligations discounted at the Company's credit-adjusted risk-free interest rate. Accretion expense is recognized over time as the discounted liabilities are accreted to their expected settlement value. If estimated future costs of ARO change, an adjustment is recorded to both the asset retirement obligation and the long-lived asset. Revisions to estimated ARO can result from changes in retirement cost estimates, revisions to estimated inflation rates and changes in the estimated timing of abandonment. Litigation and Other Contingencies In accordance with ASC 450, Contingencies, an accrual is recorded for a loss contingency when its occurrence is probable and damages can be reasonably estimated based on the anticipated most likely outcome or the minimum amount within a range of possible outcomes. QEP regularly reviews contingencies to determine the adequacy of its accruals and related disclosures. The amount of ultimate loss may differ from these estimates. See Note 10 - Commitments and Contingencies, for additional information. Except for environmental contingencies acquired in a business combination, which are recorded at fair value, QEP accrues losses associated with environmental obligations when such losses are probable and can be reasonably estimated. Accruals for estimated environmental losses are recognized no later than at the time the remediation feasibility study, or the evaluation of response options, is complete. These accruals are adjusted as additional information becomes available or as circumstances change. Future environmental expenditures are not discounted to their present value. Recoveries of environmental costs from other parties are recorded separately as assets at their undiscounted value when receipt of such recoveries is probable. 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. As of December 31, 2013, goodwill related to the Company's Uinta Basin reporting unit within QEP Energy was reduced to zero from $59.5 million in 2012 due to the recognition of impairment during 2013. Goodwill was tested for impairment under a two-step quantitative test on an annual basis or when a triggering event occurred. Under the first step, the estimated fair value of the reporting unit was compared with its carrying value (including goodwill). QEP determined fair value of its reporting units in which goodwill was allocated using the income approach in which the fair value was estimated based on the value of expected future cash flows. Key assumptions used in the cash flow model considered estimated quantities of oil, NGL and gas reserves, including both proved reserves and risk-adjusted unproved reserves, including probable and possible reserves; estimates of market prices considering forward commodity price curves as of the measurement date; and estimates of capital costs. If the fair value of the reporting unit exceeded its carrying value, step two did not need to be performed. If the estimated fair value of the reporting unit was less than its carrying value, an indication of goodwill impairment existed for the reporting unit and the enterprise performed step two of the impairment test (measurement). Under step two, an impairment loss was recognized for any excess of the carrying amount of the reporting unit’s goodwill over the implied fair value of that goodwill. The implied fair value of goodwill was determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation in acquisition accounting. The residual fair value after this allocation was the implied fair value of the reporting unit goodwill. Fair value of the reporting unit under the two-step assessment was determined using a discounted cash flow analysis. During the performance of QEP's annual goodwill impairment test at December 31, 2013, QEP failed the first step of the goodwill impairment test as described above. This was due primarily to lower forecasted oil and NGL prices. QEP performed the second step test described above resulting in a full write down of the Uinta reporting unit's goodwill of $59.5 million as of December 31, 2013. Derivative Instruments Effective January 1, 2012, the Company elected to de-designate all of its gas, oil and NGL derivative contracts that were previously designated as cash flow hedges and the Company elected to discontinue hedge accounting prospectively. Accordingly, all realized and unrealized gains and losses are recognized in earnings immediately as derivative contracts are settled and marked-to-market. For the years ended December 31, 2014, 2013 and 2012, an unrealized gain of $374.4 million, an unrealized loss of $88.7 million and an unrealized gain of $63.2 million, respectively, were included in income that, prior to January 1, 2012, would have been deferred in Accumulated Other Comprehensive Income (AOCI) under hedge accounting (Refer to Note 7 - Derivative Contracts, for additional information). At December 31, 2011, AOCI consisted of $395.9 million ($248.6 million after tax) of unrealized gains, representing the mark-to-market value of the Company's cash flow hedges as of the balance sheet date, less any ineffectiveness recognized. QEP fully reclassified all unrealized gains in AOCI into earnings during 2012 and 2013. All of QEP's derivative contracts are net settled in cash without delivery of product. These contracts also have a nominal quantity, exchange an index price for a fixed price, and are net settled with the brokers as the price bulletins become available. These derivative contracts are recorded in revenues or cost of sales in the month of settlement. Basis-only swaps are used to manage the risk of widening basis differentials. These contracts are marked-to-market monthly with any change in the valuation recognized in the determination of income. Credit Risk Exposure to credit risk may be affected by the concentration of customers in these regions 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. Commodity-based hedging arrangements also expose the Company to credit risk. The Company monitors the creditworthiness of its counterparties, which generally are major financial institutions and energy companies. Loss reserves are periodically reviewed for adequacy and may be established on a specific case basis. QEP requests credit support and, in some cases, fungible collateral, financial guarantees, letters of credit or prepayment from companies with unacceptable credit risks. The Company has master-netting agreements with some counterparties that allow the offsetting of receivables and payables in a default situation. The Company's five largest customers accounted for 33%, 38%, and 27% of QEP's revenues for the years ended December 31, 2014, 2013 and 2012, respectively. During the year ended December 31, 2014, Valero Marketing and Supply Company made up 10% of the Company's total revenues. During the year ended December 31, 2013, Freepoint Commodities, LLC and Arrow Midstream Holdings, LLC accounted for 13% and 11%, respectively, of the Company's total revenues. During the year ended December 31, 2012, no customer accounted for 10% or more of QEP's total revenues. All of the these customers represent QEP Energy's customers and management believes that the loss of any of these customers, or any other customer, would not have a material effect on the financial position or results of operations of QEP, since there are numerous potential purchasers of its production. Income Taxes Deferred income taxes are provided 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. 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. ASC 740, Income Taxes, specifies 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. During the year ended December 31, 2014, the Company recorded a valuation allowance of $18.4 million against the state net operation loss deferred tax asset, because the sale of properties in Oklahoma in 2014 will preclude its utilization in the future. There were no unrecognized tax benefits at the beginning or end of the twelve-month periods ended December 31, 2013 and 2012. All federal income tax returns prior to 2014 have been examined by the Internal Revenue Service and are closed. Income tax returns for 2014 have not yet been filed. Most state tax returns for 2011 and subsequent years remain subject to examination. Treasury Stock We record treasury stock purchases at cost, which includes incremental direct transaction costs. Amounts are recorded as a reduction in shareholders' equity in the consolidated balance sheets. QEP acquires treasury stock from stock forfeitures and withholdings and uses the acquired treasury stock for option exercises and certain stock grants to employees; refer to Note 11 - Equity-Based Compensation for additional information. Share Repurchases and Retirements In January 2014, QEP's Board of Directors authorized the repurchase of up to $500.0 million of the Company's outstanding shares of common stock. This program was extended through December 2015. The timing and amount of any QEP share repurchases will depend upon a number of factors, including general market conditions, the Company’s financial position and the estimated intrinsic value of the Company’s shares. The repurchase plan does not obligate QEP to acquire any specific number of shares and may be discontinued at any time. Shares repurchased under the plan represent common stock and are retired after repurchase. During December 2014, QEP repurchased 4,731,438 shares at a weighted average price of $21.08 per share, including commission of $0.02 per share, for $99.7 million under this program. Earnings Per Share Basic earnings per share (EPS) are computed by dividing net income attributable to QEP by the weighted-average number of common shares outstanding during the reporting period. Diluted EPS includes the potential increase in the number of outstanding shares that could result from the exercise of in-the-money stock options. QEP's unvested restricted shares are considered issued and outstanding, have a minimal historical forfeiture rate and receive dividends. Unvested equity-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents are considered participating securities and are included in the computation of earnings per share pursuant to the two-class method. The Company's unvested restricted stock awards contain non-forfeitable dividend rights and participate equally with common stock with respect to dividends issued or declared. However, the Company's unvested restricted stock does not have a contractual obligation to share in losses of the Company. The Company's unexercised stock options do not contain rights to dividends. Under the two-class method, the earnings used to determine basic earnings per common share are reduced by an amount allocated to participating securities. When the Company records a net loss, none of the loss is allocated to the participating securities since the securities are not obligated to share in Company losses. Use of the two-class method has an insignificant impact on the calculation of basic and diluted earnings per common share. For the twelve months ended December 31, 2014, 0.3 million shares were not included in diluted common shares outstanding as they were anti-dilutive due to QEP's net loss from continuing operations. A reconciliation of the components of basic and diluted shares used in the EPS calculation follows:
Equity-Based Compensation QEP issues stock options and restricted shares to certain officers, employees and non-employee directors under its Long-Term Stock Incentive Plan (LTSIP). QEP uses the Black-Scholes-Merton mathematical model to estimate the fair value of stock options for accounting purposes. The granting of restricted shares results in recognition of compensation cost measured at the grant-date market price. QEP uses an accelerated method in recognizing equity-based compensation costs with graded-vesting periods. Stock options held by employees generally vest in three equal, annual installments and primarily have a term of seven years. Restricted shares vest in equal installments over a specified number of years after the grant date with the majority vesting in three years. Non-vested restricted shares have voting and dividend rights; however, sale or transfer is restricted. The Company also awards performance share units under its Cash Incentive Plan (CIP), which are paid out in cash depending upon the Company's total shareholder return compared to a group of its peers over a three-year period. The performance share unit's compensation cost is equal to its fair value as of the period end and is classified as a liability. For a summary of LTSIP and CIP transactions see Note 11 - Equity-Based Compensation. Pension Plans, Other Postretirement Benefits and Defined-Contribution Plans QEP measures pension plan assets at fair value. Defined-benefit plan obligations and costs are actuarially determined, incorporating the use of various assumptions. Critical assumptions for pension and other postretirement plans include the discount rate, the expected rate of return on plan assets (for funded pension plans) and the rate of future compensation increases. Other assumptions involve demographic factors such as retirement, mortality and turnover. QEP evaluates and updates its actuarial assumptions at least annually. Comprehensive Income Comprehensive income is the sum of net income as reported in the Consolidated Statements of Operations and changes in the components of other comprehensive income. Other comprehensive income includes certain items that are recorded directly to equity and classified as AOCI. One component of other comprehensive income is changes in the market value of commodity-based derivative instruments for which the Company previously applied hedge accounting. Income or loss associated with such commodity-based derivative instruments was realized when the gas, oil or NGL underlying the derivative instrument was sold. Comprehensive income includes changes in the under-funded portion of the Company's defined benefit pension plans and other postretirement benefits plans and changes in deferred income taxes on such amounts. These transactions do not represent the culmination of the earnings process but result from periodically adjusting historical balances to fair value. 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. QEP's lines of business are QEP Energy and QEP Marketing and Other. QEP's former reporting segment, QEP Field Services, excluding the retained ownership of the Haynesville Gathering System, was sold in 2014 and has been classified as a discontinued operation on the Consolidated Statement of Operations and the Notes accompanying the Consolidated Financial Statements. The Haynesville Gathering System, which was retained by QEP Marketing, is included the reporting segment QEP Marketing and Other. Recent Accounting Developments In August 2014, the Financial Accounting Standards Board (FASB) issued ASU No. 2014-15, Presentation of Financial Statements-Going Concern (Topic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. This guidance provides additional information to guide management's evaluation of whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued. The update is effective for annual periods beginning on or after December 15, 2016. The Company is currently evaluating the impact of this standard on the Company's Consolidated Financial Statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), which seeks to provide a single, comprehensive revenue recognition model for all contracts with customers to improve comparability within industries, across industries, and across capital markets. The revenue standard contains principles that an entity will apply to determine the measurement of revenue and timing of when it is recognized. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The amendments are effective prospectively for reporting periods beginning after December 15, 2016 and early adoption is not permitted. The Company is currently assessing the impact on the Company's Consolidated Financial Statements. In April 2014, the FASB issued Accounting Standards Update (ASU) 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, which broadened the reporting of discontinued operations to a component of an entity that has operations and cash flows that can be clearly distinguished from the rest of the entity. Under this guidance, to be a discontinued operation, a component or group of components must represent a strategic shift that has (or will have) a major effect on an entity's operations and financial results. The amendments are effective prospectively for reporting periods beginning on or after December 15, 2014 and early adoption is permitted. The Company chose to early adopt ASU 2014-08 and implemented the amendments during the quarter ended September 30, 2014. |
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Acquisitions and divestitures [Text Block] | Permian Basin Acquisition On February 25, 2014, QEP Energy acquired oil and gas properties in the Permian Basin of Texas for an aggregate purchase price of $941.8 million, subject to post-closing purchase price adjustments (the Permian Basin Acquisition). The acquired properties consist of approximately 26,500 net acres of producing and undeveloped oil and gas properties and approximately 270 vertical producing wells in the Permian Basin, which created a new core area of operation for QEP Energy. The acquisition was funded with $50.0 million of restricted cash, $300.0 million from the Company's expanded term loan and the remainder was funded from its revolving credit facility. The Permian Basin Acquisition meets the definition of a business combination under ASC 805, Business Combinations, as it included significant proved properties. QEP allocated the cost of the Permian Basin Acquisition to assets acquired and liabilities assumed based on fair values as of the acquisition date. Revenues of $159.5 million and a net loss of $438.3 million were generated from the acquired properties from February 25, 2014, to December 31, 2014, and are included in QEP's Consolidated Statements of Operations. The net loss is primarily due to an impairment on proved properties of $467.7 million recognized in 2014 due to the decrease in the future oil prices. During the year ended December 31, 2014, QEP Energy incurred acquisition-related costs of $0.6 million, which are included in "General and administrative" on the Consolidated Statement of Operations for the year ended December 31, 2014. QEP incurred $1.1 million of debt issuance costs associated with increasing the size of term loan borrowings to fund a portion of the acquisition, which was subsequently written off when the term loan was repaid in December 2014 with proceeds from the Midstream Sale. The Consolidated Balance Sheet as of December 31, 2014 includes the Permian Basin Acquisition. The following table presents a summary of the Company's purchase accounting entries:
The following unaudited, pro forma results of operations are provided for the years ended December 31, 2014 and 2013. These supplemental pro forma results of operations are provided for illustrative purposes only and may not be indicative of the actual results that would have been achieved by the acquired properties for the period presented, or that may be achieved by such properties in the future. Future results may vary significantly from the results reflected in this pro forma financial information because of future events and transactions, as well as other factors. The pro forma information is based on QEP's consolidated results of operations for the years ended December 31, 2014 and 2013, the acquired properties' historical results of operations, and estimates of the effect of the transaction on the combined results. The pro forma results of operations have been prepared by adjusting the historical results of QEP to include the historical results of the acquired properties based on information provided by the seller and the impact of the preliminary purchase price allocation. The pro forma results of operations do not include any cost savings or other synergies that may result from the Permian Basin Acquisition or any estimated costs that have been or will be incurred by the Company to integrate the acquired properties.
Williston Basin Acquisition On September 27, 2012, QEP Energy acquired oil and gas properties in the Williston Basin for an aggregate purchase price of $1.4 billion (the Williston Basin Acquisition). The properties are located in Williams and McKenzie counties of North Dakota, approximately 12 miles west of QEP's then-existing core acreage in the Williston Basin. The Williston Basin Acquisition meets the definition of a business combination under ASC 805, Business Combinations, as it included proved properties. QEP allocated the cost of the Williston Basin Acquisition to assets acquired and liabilities assumed based on fair values as of the acquisition date. Revenues of $767.3 million, $300.0 million and $63.7 million and net income of $402.1 million, $67.0 million and $14.9 million were generated from the acquired properties during the years ended December 31, 2014, 2013 and 2012, respectively, and are included in QEP's Consolidated Statements of Operations. During the year ended December 31, 2012, QEP Energy's acquisition-related costs of $1.1 million are included in "General and administrative" on the Consolidated Statements of Operations. The following unaudited, pro forma results of operations are provided for the year ended December 31, 2012. These supplemental pro forma results of operations are provided for illustrative purposes only and may not be indicative of the actual results that would have been achieved by the acquired properties for the periods presented, or that may be achieved by such properties in the future. Future results may vary significantly from the results reflected in this pro forma financial information because of future events and transactions, as well as other factors. The pro forma information is based on QEP's consolidated results of operations for the year ended December 31, 2012, the acquired properties' historical results of operations and estimates of the effect of the transaction on the combined results. The pro forma results of operations have been prepared by adjusting the historical results of QEP to include the historical results of the acquired properties based on information provided by the seller and the impact of the purchase price allocation. The pro forma results of operations do not include any cost savings or other synergies that may result from the Williston Basin Acquisition or any estimated costs that have been or will be incurred by the Company to integrate the acquired properties.
Divestitures In June 2014, QEP Energy sold its interests in certain non-core properties in the Midcontinent area and other non-core assets in the Williston Basin for aggregate proceeds of $692.9 million, subject to post-closing purchase price adjustments, and recorded a pre-tax loss of $199.4 million. In December 2014, QEP sold its interest in certain non-core properties in southern Oklahoma for aggregate proceeds of $94.9 million, subject to post-closing purchase price adjustments, and recorded a pre-tax gain on sale of $53.3 million. In June 2013, QEP Energy sold its interests in several non-core oil and gas properties located in QEP's Northern Region for aggregate proceeds of $138.5 million and recorded a pre-tax gain on sale of $96.2 million. In September 2013, QEP Energy sold its interests in several non-core properties located in QEP's Southern Region for aggregate proceeds of $67.3 million and recorded a pre-tax gain on sale of $9.5 million. These gains and losses are reported on the Consolidated Statements of Operations in "Net gain (loss) from asset sales". |
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The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. No definition available.
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Discontinued Operations
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Discontinued Operations and Disposal Groups [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | In December 2013, QEP's Board of Directors authorized the Company to develop a plan to separate its midstream business, QEP Field Services, including the Company's interest in QEP Midstream, from QEP. Between December 2013 and September 2014, the Company evaluated transaction alternatives, including selling or merging the midstream business or spinning the midstream business off to its shareholders. In June 2014, QEP filed a registration statement on Form 10 with the U.S. Securities and Exchange Commission (SEC) in preparation for a potential spinoff of QEP Field Services as a separate publicly traded company. Concurrently, the Company evaluated selling or merging its midstream business. In September 2014, based on the proposals received, the Company's Board of Directors authorized QEP's management to engage in the negotiation of terms of a definitive transaction with Tesoro. In October 2014, the Company announced that its wholly owned subsidiary, QEP Field Services, had entered into a definitive agreement to sell substantially all of its midstream business, including the Company's ownership interest in QEP Midstream. On December 2, 2014, QEP closed the Midstream Sale for total cash proceeds of $2.5 billion, including $230.0 million to refinance debt at QEP Midstream, and QEP recorded a pre-tax gain of $1.8 billion on its Consolidated Statements of Operations in "Net income from discontinued operations, net of income tax" for the year ended December 31, 2014. Subsequent to the Midstream Sale, QEP withdrew its registration statement on Form 10 with the SEC. As of December 31, 2014, the operating results of QEP Field Services, excluding the Haynesville Gathering System, were classified as discontinued operations on its Consolidated Statements of Operations. QEP will have continuing cash outflows to the entities sold as a part of the Midstream Sale for gathering, processing and water handling costs in Pinedale, the Uinta Basin and a portion of its Williston Basin operations. The contracts related to these cash flows vary in length from month-to-month to over a year and will be reviewed periodically in the normal course of business. Historically, these transactions were eliminated in consolidation, as they represented transactions between two related entities but are now reflected as part of the continuing operations for QEP. For the years ended December 31, 2014, 2013 and 2012, cash outflows for these transactions included in continuing operations were $145.3 million, $124.6 million and $113.5 million, respectively. Consolidated Statement of Operations The discontinued operations of QEP Field Services (excluding results of the Haynesville Gathering System) are summarized below:
Consolidated Balance Sheet The current and noncurrent assets and liabilities of QEP Field Services (excluding the retained Haynesville Gathering System) are as follows:
Consolidated Statement of Cash Flows The impact of QEP Field Services discontinued operations (excluding the Haynesville Gathering System) on the Consolidated Statements of Cash Flows for "Depreciation, depletion and amortization" contained in "Cash flows from operating activities" was $45.9 million, $52.2 million and $55.1 million for the years ended December 31, 2014, 2013, and 2012, respectively. The impact on cash used for "Property, plant and equipment, including dry hole exploratory well expense" contained in "Cash flows from investing activities" was $55.2 million, $88.9 million and $156.2 million for the years ended December 31, 2014, 2013, and 2012, respectively. |
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The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Capitalized Exploratory Well Costs
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Capitalized Exploratory Well Costs [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Suspended Well Costs Disclosure [Text Block] | Net changes in capitalized exploratory well costs are presented in the table below. The balances at December 31, 2014, 2013 and 2012, represent the amount of capitalized exploratory well costs that are pending the determination of proved reserves.
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The entire disclosure for parts or all of the information related to suspended well costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Asset Retirement Obligations
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Asset Retirement Obligations | QEP records asset retirement obligations when there are legal obligations associated with the retirement of tangible long-lived assets. The Company's ARO liability applies primarily to abandonment costs associated with oil and gas wells and certain other properties. The fair values of such costs are estimated by Company personnel based on abandonment costs of similar assets and depreciated over the life of the related assets. Revisions to the ARO estimates result from changes in expected cash flows or material changes in estimated asset retirement costs. The ARO liability is adjusted to present value each period through an accretion calculation using a credit-adjusted risk-free interest rate. Of the $195.1 million and $165.1 million ARO liability for the years ended December 31, 2014 and 2013, respectively, $1.3 million and $1.8 million was included as a liability in "Accounts payable and accrued expenses" on the Consolidated Balance Sheets. The following is a reconciliation of the changes in the Company's ARO for the periods specified below:
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The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair Value Measurements
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Fair Value Measurements | QEP measures and discloses fair values in accordance with the provisions of ASC 820, Fair Value Measurements and Disclosures. This guidance defines fair value in applying GAAP, establishes a framework for measuring fair value and expands disclosures about fair-value measurements, but does not change existing guidance as to whether or not an instrument is carried at fair value. ASC 820 also establishes a fair-value hierarchy. Level 1 inputs are quoted prices (unadjusted) 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. QEP has determined that its commodity derivative instruments are Level 2. The Level 2 fair value of commodity derivative contracts (see Note 7 - Derivative Contracts) is based on market prices posted on the respective commodity exchange on the last trading day of the reporting period and industry standard discounted cash flow models. QEP primarily applies the market approach for recurring fair value measurements and maximizes its use of observable inputs and minimizes its use of unobservable inputs. QEP 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, QEP makes assumptions in valuing its assets and liabilities, including assumptions about risk and the risks inherent in the inputs to the valuation technique. The Company's policy is to recognize significant transfers between levels at the end of the reporting period. Certain of the Company's commodity derivative instruments are valued using industry standard models that consider various inputs, including quoted forward prices for commodities, time value, volatility, and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these inputs are observable in the marketplace throughout the full term of the instrument and can be derived from observable data or are supported by observable prices at which transactions are executed in the marketplace. The determination of fair value for derivative assets and liabilities also incorporates nonperformance risk for counterparties and for QEP. Derivative contract fair values are reported on a net basis to the extent a legal right of offset with the counterparty exists. In addition, during 2013 QEP had interest rate swaps that it determined were Level 2 financial instruments. As of December 31, 2014, the interest rate swaps were terminated. The fair values of the interest rate swaps were determined using the market standard methodology of discounting the future expected cash flows that would occur under the contractual terms of the swap. The variable interest rates used in the calculation of projected cash flows were based on an expectation of future interest rates derived from observable market interest rate curves. QEP incorporated credit valuation adjustments to reflect both its nonperformance risk and the respective counterparty's nonperformance risk in the fair value measurements. While the credit valuation adjustments were not observable inputs, they were not significant to the overall valuation and the other inputs used to value the interest rate swaps were observable Level 2 inputs. The fair value of financial assets and liabilities at December 31, 2014 and 2013, is shown in the tables below:
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The following table discloses the fair value and related carrying amount of certain financial instruments not disclosed in other Notes to the Consolidated Financial Statements in this Annual Report on Form 10-K:
The carrying amounts of cash and cash equivalents and checks outstanding in excess of cash balances approximate fair value. The fair value of fixed-rate long-term debt is based on the trading levels and dollar prices for the Company's debt at the end of the year. The carrying amount of variable-rate long-term debt approximates fair value because the floating interest rate paid on such debt was set for periods of one month. The initial measurement of ARO at fair value is calculated using discounted cash flow techniques and based on internal estimates of future retirement costs associated with property, plant and equipment. Significant Level 3 inputs are used in the calculation of ARO including plugging cost estimates and reserve lives. A reconciliation of the Company's asset retirement obligations is presented in Note 5 - Asset Retirement Obligations. Nonrecurring Fair Value Measurements The provisions of the fair value measurement standard are also applied to the Company's nonrecurring, non-financial measurements. The Company utilizes fair value on a non-recurring basis to review its proved oil and gas properties for potential impairment when events and circumstances indicate a possible decline in the recoverability of the carrying value of such property. During the years ended December 31, 2014 and 2013, the Company recorded impairments on certain oil and gas properties resulting in a write down of the associated carrying value to fair value. The fair value of the property was measured utilizing the income approach and utilizing inputs which are primarily based upon internally developed cash flow models. Given the unobservable nature of the inputs, proved oil and gas property impairments are considered Level 3 within the fair value hierarchy. During the years ended December 31, 2014 and 2013, the Company recorded $1,041.4 million and $1.2 million, respectively, of impairments related to certain of its proved properties. The proved properties were written down to their estimated fair values at the time of the impairments during December 31, 2014 and 2013, respectively. Acquisitions of proved and unproved properties are also measured at fair value on a nonrecurring basis. The Company utilized a discounted cash flow model to estimate the fair value of acquired property as of the acquisition date which utilized the following inputs to estimate future net cash flows: estimated quantities of oil, gas and NGL reserves; estimates of future commodity prices; and estimated production rates, future operating and development costs, which were based on the Company's historic experience with similar properties. In some instances, market comparable information of recent transactions is used to estimate fair value of unproved acreage. Due to the unobservable characteristics of the inputs, the fair value of the properties is considered Level 3 within the fair value hierarchy. Refer to Note 2 - Acquisitions and Divestitures for additional information on the fair value of acquired properties. |
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The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Derivative Contracts
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Dec. 31, 2014
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Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Contracts | QEP has established policies and procedures for managing commodity price volatility through the use of derivative instruments. In the normal course of business, QEP uses commodity price derivative instruments to reduce the impact of potential downward movements in commodity prices on cash flow, returns on capital investment, and other financial results. However, these instruments typically limit gains from favorable price movements. The volume of production subject to commodity derivative instruments and the mix of the instruments are frequently evaluated and adjusted by management in response to changing market conditions. QEP may enter into commodity derivative contracts for up to 100% of forecasted production from proved reserves. In addition, QEP may enter into commodity derivative contracts on a portion of its gas sales and purchases for marketing transactions. QEP does not enter into commodity derivative instruments for speculative purposes. QEP uses commodity derivative instruments known as fixed-price swaps or collars to realize a known price or price range for a specific volume of production delivered into a regional sales point. QEP's commodity derivative instruments do not require the physical delivery of gas, oil, or NGL between the parties at settlement. Swap transactions are settled in cash with one party paying the other for the net difference in prices, multiplied by the contract volume, for the settlement period. Gas price derivative instruments are typically structured as fixed-price swaps at regional price indices. Oil price derivative instruments are typically structured as NYMEX fixed-price swaps based at Cushing, Oklahoma or oil price swaps that use Intercontinental Exchange, Inc. (ICE) Brent oil prices as the reference price. QEP also enters into crude oil basis swaps to achieve a fixed price swap for a portion of its oil it sells at prices that reference ICE Brent and Light Louisiana Sweet (LLS). QEP enters into commodity derivative transactions that do not have margin requirements or collateral provisions that would require payments prior to the scheduled settlement dates. Commodity derivative contract counterparties are normally financial institutions and energy trading firms with investment-grade credit ratings. QEP routinely monitors and manages its exposure to counterparty risk by requiring specific minimum credit standards for all counterparties and avoids concentration of credit exposure by transacting with multiple counterparties. Effective January 1, 2012, QEP elected to de-designate all of its gas, oil and NGL derivative contracts that were previously designated as cash flow hedges and discontinue hedge accounting prospectively. As a result of discontinuing hedge accounting, the mark-to-market values at December 31, 2011, were fixed in AOCI as of the de-designation date and reclassified into the Consolidated Statement of Operations as the transactions settled and affected earnings. QEP fully reclassified all unrealized gains in AOCI into earnings during 2012 and 2013. All realized and unrealized gains and losses from derivative instruments incurred after January 1, 2012, are presented in the Consolidated Statements of Operations in "Realized and unrealized gains (losses) on derivative contracts" below operating income. QEP also used interest rate swaps to mitigate a portion of its exposure to interest rate volatility risk associated with QEP's former $600.0 million term loan. For the $300.0 million term loan issued during 2012, QEP locked in a fixed interest rate of 1.07% in exchange for a variable interest rate indexed to the one-month LIBOR. For the incremental $300.0 million borrowed under the term loan during 2014, QEP locked in a fixed interest rate of 0.86%. The average effective interest rate on the $600.0 million term loan when combined with the fixed interest rate swaps for the year ended December 31, 2014, was 3.24%. These interest rate swaps were terminated in December 2014 along with the extinguishment of QEP's term loan. QEP Energy's Derivative Contracts The following table sets forth QEP Energy's quantities and average prices for its commodity derivative contracts as of December 31, 2014:
The following table sets forth QEP Energy's crude oil sales costless collars as of December 31, 2014:
The following table sets forth QEP Energy's oil basis swaps as of December 31, 2014:
QEP Marketing Derivative Contracts QEP Marketing enters into commodity derivative transactions to lock in a margin on gas volumes placed into storage and for marketing transactions in which QEP Marketing sells gas volumes at a fixed price. The following table sets forth QEP Marketing's volumes and swap prices for its commodity derivative contracts as of December 31, 2014:
QEP Derivative Financial Statement Presentation The following table presents the balance sheet location of QEP's outstanding derivative contracts on a gross contract basis as opposed to the net contract basis presentation in the Consolidated Balance Sheets and the related fair values at the balance sheet dates:
The effects of the change in fair value and settlement of QEP's derivative contracts recorded in "Realized and Unrealized gains on derivatives" on the Consolidated Statements of Operations are summarized in the following tables:
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The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Restructuring Costs
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Dec. 31, 2014
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Restructuring Costs [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring Costs | In December 2013, QEP announced its plan to pursue a separation of its midstream business, QEP Field Services. In connection with this announcement, the Board of Directors approved an employee retention plan to provide substantially all QEP Field Services' employees as of December 1, 2013, with a one-time lump-sum cash payment on the earlier of December 31, 2014, or whenever the separation of QEP Field Services occurs, conditioned on continued employment with QEP Field Services or a successor through the payment date unless the employee is terminated prior to such date. In December 2014, QEP paid the retention bonus to eligible employees in connection with the Midstream Sale. QEP recognized $10.4 million of costs under this retention plan, which is included in "Discontinued operations, net of income tax" on the Consolidated Statements of Operations. During 2012, QEP began incurring costs related to the closure of its Oklahoma City office and the subsequent consolidation of its Southern Region operations into a single regional office located in Tulsa. Additionally, during 2012, QEP began incurring additional restructuring and reorganization costs related to consolidating various corporate and accounting functions to the Denver corporate headquarters. The creation of one office for QEP’s Southern Region as well as the consolidation of corporate and accounting functions increased efficiency, team-based collaboration and organizational productivity. As part of the reorganization, QEP incurred costs associated with the severance, retention and relocation of employees, additional pension expenses, exit costs associated with the termination of operating leases arising from office space that will no longer be utilized by the Company and other expenses. All restructuring costs related to the 2012 office consolidations and continued operations were incurred and settled by December 31, 2013. The following table summarizes, by line of business, each major type of restructuring cost expected to be incurred and the total amounts recorded in "General and administrative" expense on the Consolidated Statements of Operations for the respective periods indicated:
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The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Debt
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Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt | As of the indicated dates, the principal amount of QEP’s senior notes consisted of the following:
Of the total debt outstanding on December 31, 2014, the 6.05% Senior Notes due September 1, 2016, and the 6.80% Senior Notes due April 1, 2018 will mature within the next five years. The revolving credit facility matures on December 2, 2019. QEP's Credit Facility QEP’s unsecured revolving credit facility, which matures in December 2019, provides for loan commitments of $1.8 billion from a group of financial institutions. The credit facility provides for borrowings at short-term interest rates and contains customary covenants and restrictions. On December 2, 2014, QEP entered into the Fourth Amendment to its Credit Agreement, which increased the aggregate principal amount of commitments to $1.8 billion, extended the maturity date to December 2, 2019, and made minor adjustments to other provisions and covenants. During the years ended December 31, 2014 and 2013, QEP's weighted-average interest rates on borrowings from its credit facility were 2.23% and 2.22%, respectively. At December 31, 2014, QEP had no borrowings outstanding and had $3.7 million in letters of credit outstanding under the credit facility. At December 31, 2013, QEP had $480.0 million outstanding and QEP had $3.8 million in letters of credit outstanding under the credit facility. At December 31, 2014 and 2013, QEP was in compliance with the covenants under the credit facility. Term Loan On December 2, 2014, QEP repaid and terminated its $600.0 million term loan with a portion of the proceeds from the Midstream Sale. The term loan facility provided borrowings at short-term interest rates and contained covenants, restrictions and interest rates that were substantially the same as QEP’s revolving credit facility. During the years ended December 31, 2014 and 2013, QEP's weighted-average interest rates on borrowings from the term loan were 2.28% and 2.22%, respectively. Senior Notes At December 31, 2014, the Company had $2,221.8 million principal amount of senior notes outstanding with maturities ranging from September 2016 to May 2023 and coupons ranging from 5.25% to 6.875%. The senior notes pay interest semi-annually, are unsecured senior obligations and rank equally with all of our other existing and future unsecured and senior obligations. QEP may redeem some or all of its senior notes at any time before their maturity at a redemption price based on a make-whole amount plus accrued and unpaid interest to the date of redemption. The indentures governing QEP's senior notes contain customary events of default and covenants that may limit QEP's ability to, among other things, place liens on its property or assets. |
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The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments and Contingencies
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Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contingencies | QEP is involved in various commercial and regulatory claims, litigation and other legal proceedings that arise in the ordinary course of its business. QEP assesses these claims in an effort to determine the degree of probability and range of possible loss for potential accrual in its Consolidated Financial Statements. In accordance with ASC 450, Contingencies, an accrual is recorded for a loss contingency when its occurrence is probable and damages are reasonably estimable based on the anticipated most likely outcome or the minimum amount within a range of possible outcomes. Because legal proceedings are inherently unpredictable, and unfavorable resolutions can occur, assessing contingencies is highly subjective and requires judgments about uncertain future events. When evaluating contingencies, QEP may be unable to provide a meaningful estimate due to a number of factors, including the procedural status of the matter in question, the presence of complex or novel legal theories, the ongoing discovery and/or development of information important to the matter. QEP's litigation loss contingencies are discussed below. Except for the Rocky Mountain Resources matter discussed below, QEP is unable to estimate reasonably possible losses (in excess of recorded accruals, if any) for these contingencies for the reasons set forth above. QEP believes, however, that the resolution of pending proceedings (after accruals, insurance coverage, and indemnification arrangements) will not be material to QEP's financial position, but could be material to results of operations in a particular quarter or year. Environmental Claims In October 2009, QEP received a cease and desist order from the U.S. Army Corps of Engineers (COE) to refrain from unpermitted work resulting in the discharge of dredged and/or fill material into waters of the United States at three sites located in Caddo and Red River Parishes, Louisiana. Region 6 of the U.S. Environmental Protection Agency (EPA) has assumed lead responsibility for enforcement of the cease and desist order and any possible future orders for the removal of unauthorized fills and/or civil penalties under the Clean Water Act. On June 28, 2013, the EPA issued to QEP an Administrative Complaint for the alleged violations. QEP and the EPA reached an agreement to settle the alleged violations through an Administrative Order, under the terms of which QEP paid an administrative penalty of $0.2 million. The Administrative Order is final. In 2012, QEP completed a field audit, which identified 112 additional instances affecting approximately 90 acres where work may have been conducted in violation of the Clean Water Act. QEP has disclosed each of these instances to the EPA under the EPA's Audit Policy (to reduce penalties) and to the COE. QEP is working with the EPA and the COE to resolve these matters, which will require the Company to undertake certain mitigation and permitting activities, and may require QEP to pay a monetary penalty. In July 2010, QEP received a Notice of Potential Penalty (NOPP) from the Louisiana Department of Environmental Quality (LDEQ) regarding the assumption of ownership and operatorship of a single facility in Louisiana prior to transferring the facility's air quality permit. In 2011, QEP completed an internal audit, which identified 424 facilities in Louisiana for which QEP both failed to submit a complete permit application and to receive approval from the department prior to construction, modification, or operation. QEP has corrected and disclosed all instances of non-compliance to the LDEQ and is working with the department to resolve the NOPP. The LDEQ has assumed lead responsibility for enforcement of the NOPP, and may require the Company to pay a monetary penalty. Litigation Rocky Mountain Resources, LLC v. QEP Energy Company, Wexpro Company, Ultra Resources, Inc. and Lance Oil & Gas Company, Inc., Civil No. 2011-7816, District Court of Sublette County, Wyoming. Rocky Mountain Resources, LLC (Rocky Mountain) filed its complaint on March 30, 2011, seeking determination of the existence of a 4% overriding royalty interest in State of Wyoming oil and gas Lease No. 79-0645 covering Section 16, T32-N R-109-W, Sublette County, Wyoming. QEP and the other defendants are current lessees of Lease 79-0645. Rocky Mountain alleges that the defendants have received benefits from Lease 79-0645 and have failed to pay Rocky Mountain monies associated with the claimed 4% overriding royalty interest since the issuance of the lease by the State of Wyoming in 1980. Rocky Mountain asserts claims for quiet title, declaratory judgment, breach of contract, breach of duty of good faith, conversion, constructive trust and prejudgment interest. On May 7, 2014, the trial court entered its order granting plaintiff's motion for summary judgment on the issue of whether the overriding royalty interest burdens QEP's lease. On June 17, 2014, the Supreme Court of Wyoming denied QEP's Petition for Writ of Review. On August 21, 2014, the trial court denied QEP’s Motion to Certify Questions of Law to the Wyoming Supreme Court. At the conclusion of a trial in February 2015, and after being instructed by the Court that the overriding royalty interest burdened QEP’s lease, a jury rendered a verdict against QEP and awarded Rocky Mountain damages in the amount of $16.7 million, including interest. QEP believes that the Court’s ruling on summary judgment and the resulting jury instructions are in error and will appeal to the Wyoming Supreme Court. While the appeal is pending, post-judgment interest accrues at the statutory rate of 10%. QEP estimates that, notwithstanding the verdict, the range of reasonably possible losses is still zero to $20 million. Gatti et al v. State of Louisiana et al, 589,350, 19th JDC, Parish of East Baton Rouge, Louisiana. In this putative class action arising out of the unitization practices and orders of the Louisiana Commissioner of Conservation (Commissioner), plaintiffs seek to represent a class of all Haynesville Shale mineral owners (alleged to be over 50,000 in number) against the Commissioner and all Haynesville Shale unit operators. Plaintiffs filed their complaint on April 8, 2010, and claim that the Commissioner exceeded his statutory authority in creating and perpetuating units larger than the area that can be efficiently and economically drained by a single well. They seek declaratory relief that would nullify all such improper orders, along with an unspecified amount of monetary damages from the unit operators sufficient to compensate the putative class members for the alleged dilution of their true interest in unit production as a result of "oversized" units and the "cloud on title" caused by having excessive and improperly sized units purport to hold their mineral leases via unit operations. All defendants filed exceptions to the plaintiffs' petition on the primary ground that plaintiffs had failed to comply with the exclusive statutory judicial review procedure (Louisiana Revised Statutes 30:12), which the trial court granted, dismissing the action in its entirety. On January 15, 2014, the Louisiana First Circuit Court of Appeal reversed and reinstated plaintiffs' claims. Defendants asked for review by the Louisiana Supreme Court and on August 25, 2014, the Supreme Court reversed the Court of Appeals and dismissed the plaintiffs’ claim without prejudice as originally ordered by the District Court. Yannick Gagné and others similarly situated v. QEP Resources, Inc., No. 480-06-1-132, Superior Court, Province of Quebec, Canada. Plaintiffs seek to represent a class of all persons who sustained damages as a result of the July 6, 2013 train derailment in Lac-Mégantic, Quebec, which resulted in substantial loss of life and property. The fourth amended motion to authorize the bringing of a class action was filed on February 19, 2014, and names numerous defendants. The plaintiffs contend that QEP, and other producer defendants, sold Bakken crude oil to third-party purchasers in North Dakota, who resold the oil and transported it on the derailed train. Plaintiffs alleged that QEP and the producer defendants, among other things, failed to ensure that the oil was adequately processed to remove volatile gases and vapors, knowingly added volatile light end petroleum liquids and/or vapors or blended the crude with condensate, failed to conduct adequate well site testing to determine the proper hazard classification of the oil, failed to properly classify the shipping requirements for the oil, failed to take reasonable care to ensure that the oil was properly labeled and shipped, failed to identify the risk of the train derailment and take action to prevent it, and failed to adopt, implement and enforce rules and procedures pertaining to the safe shipment of the oil. The plaintiffs seek damages, but specific monetary damages are not asserted. Class certification hearings took place in June 2014, and a court order regarding class certification is pending. Litigation related to discontinued operations: In accordance with the terms of the Membership Interest Purchase Agreement, dated October 19, 2014, by and between QEP Field Services and Tesoro, Tesoro agreed to assume the defense of, and indemnify, defend and hold harmless QEP Field Services and its affiliates, including QEP, from and against all liability, loss, cost, expense, claim, award or judgment associated with the following litigation matters previously disclosed: Questar Gas Company v. QEP Field Services Company and XTO Energy Inc. v. QEP Field Services Company. Therefore, in light of Tesoro’s indemnification obligations and after assessing Tesoro’s ability to satisfy its indemnification obligations, QEP believes it is not reasonably likely to have liability for these matters. Commitments Subsidiaries of QEP have contracted for gathering, processing, firm transportation and storage services with various third-party pipelines. Market conditions, drilling activity and competition may prevent full utilization of the contractual capacity. In addition, QEP has contracts with third parties who provide drilling services. Annual payments and the corresponding years for gathering, processing, transportation, storage, drilling, and fractionation contracts are as follows (in millions):
QEP rents office space throughout its scope of operations from third-party lessors. Rental expense from operating leases amounted to $8.2 million, $7.8 million, and $7.3 million during the years ended December 31, 2014, 2013 and 2012, respectively. Minimum future payments under the terms of long-term operating leases for the Company's primary office locations are as follows (in millions):
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The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Equity-Based Compensation
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Share-based Compensation [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation | QEP issues stock options and restricted shares under its LTSIP and awards performance share units under its CIP to certain officers, employees, and non-employee directors. QEP recognizes expense over time as the stock options, restricted shares, and performance share units vest. Deferred equity-based compensation is included in additional paid-in capital in the Consolidated Balance Sheets. There were 10.8 million shares available for future grants under the LTSIP at December 31, 2014. Equity-based compensation expense is recognized in "General and administrative" on the Consolidated Statements of Operations, and expenses related to discontinued operations (including compensation expense related to the QEP Midstream Long Term Incentive Plan) are reflected in "Discontinued operations, net of income tax". During the year ended December 31, 2014 for continuing operations, QEP recognized $21.4 million in total compensation expense related to equity-based compensation compared to $25.7 million and $25.6 million during the years ended December 31, 2013 and 2012, respectively. For discontinued operations during the year ended December 31, 2014, QEP recognized $5.8 million in total compensation expense related to equity based compensation, compared to $1.4 million during the year ended December 31, 2013. Stock Options QEP uses the Black-Scholes-Merton mathematical model to estimate the fair value of stock option awards at the date of the grant. Fair-value calculations rely upon subjective assumptions used in the mathematical model and may not be representative of future results. The Black-Scholes-Merton model is intended for measuring the value of options traded on an exchange. The Company utilizes the "simplified" method to estimate the expected term of the stock options granted as there is limited historical exercise data available in estimating the expected term of the stock options. QEP uses a historical volatility method to estimate the fair value of stock options awards and the risk-free interest rate is based on the yield on U.S. Treasury strips with maturities similar to those of the expected term of the stock options. The stock options typically vest in equal installments over a three-year period from the grant date and are exercisable immediately upon vesting through the seventh anniversary of the grant date. To fulfill options exercised, QEP either reissues treasury stock or issues new shares. The calculated fair value of options granted and major assumptions used in the model at the date of grant are listed below:
Stock option transactions under the terms of the LTSIP are summarized below:
The total intrinsic value (the difference between the market price at the exercise date and the exercise price) of options exercised was $0.6 million, $4.3 million and $9.6 million during the years ended December 31, 2014, 2013 and 2012, respectively. The Company realized no income tax benefit for the year ended December 31, 2014, and $1.4 million, and $4.6 million of income tax benefits for the years ended December 31, 2013 and 2012, respectively, which increased its Additional Paid-in-Capital (APIC) pool by $6.5 million as of December 31, 2014. As of December 31, 2014, $2.0 million of unrecognized compensation cost related to stock options granted under the LTSIP is expected to be recognized over a weighted-average period of 1.87 years. During the year ended December 31, 2014, QEP issued shares for stock option exercises from its treasury stock and received $1.5 million in cash in relation to the exercise of stock options. Restricted Shares Restricted share grants typically vest in equal installments over a three-year period from the grant date. The grant date fair value is determined based on the closing bid price of the Company's common stock on the grant date. The total fair value of restricted stock that vested during the years ended December 31, 2014, 2013 and 2012, was $26.8 million, $19.8 million and $16.7 million, respectively. The Company realized an income tax expense of $0.5 million, $0.1 million and $0.3 million for the years ended December 31, 2014, 2013 and 2012, respectively. Restricted stock increased the Company's APIC pool by $0.3 million as of December 31, 2014. The weighted average grant-date fair value of restricted stock granted during the years was $31.40 per share, $30.06 per share and $30.54 per share for the years ended December 31, 2014, 2013 and 2012, respectively. As of December 31, 2014, $18.3 million of unrecognized compensation cost related to restricted shares granted under the LTSIP is expected to be recognized over a weighted-average vesting period of 2.10 years. Transactions involving restricted shares under the terms of the LTSIP are summarized below:
Performance Share Units The performance share units' cash payouts are dependent upon the Company's total shareholder return compared to a group of its peers over a three-year period. The awards are denominated in share units but delivered in cash at the end of the performance period. The weighted average grant-date fair values of the performance share units granted during the years ended December 31, 2014, 2013 and 2012, were $31.57, $30.12, and $30.75 per unit, respectively. As of December 31, 2014, $2.3 million of unrecognized compensation cost classified as a liability, or the fair market value, related to performance shares granted under the CIP is expected to be recognized over a weighted-average vesting period of 1.90 years. Transactions involving performance share units under the terms of the CIP are summarized below:
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The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Employee Benefits
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Compensation and Retirement Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employee Benefits | Defined Benefit Pension Plans and Other Postretirement Benefits The Company maintains the QEP Resources, Inc. Retirement Plan, a closed, defined-benefit pension plan providing coverage to 62 active and suspended participants, or 8%, of QEP's active employees and to 152 participants that are retired or terminated and vested (the Pension Plan). QEP also sponsors an unfunded Supplemental Executive Retirement Plan. Pension-plan benefits are based on the employee's age at retirement, years of service and highest earnings in a consecutive 72 semi-monthly pay period during the 10 years preceding retirement. QEP pension plans include a qualified and a nonqualified retirement plan. Postretirement health care benefits and life insurance are provided only to employees hired before January 1, 1997. Of the 62 active, pension eligible employees, 39 are also eligible for the postretirement medical and life insurance plans when they retire. As of December 31, 2014, 36 retirees are enrolled in this plan. The Company has capped its exposure to increasing medical costs by paying a fixed dollar monthly contribution toward these retiree benefits. The Company's contribution is prorated based on an employee's years of service at retirement; only those employees with 25 or more years of service receive the maximum company contribution. At December 31, 2014 and 2013, QEP's accumulated benefit obligation exceeded the fair value of its qualified retirement plan assets. At December 31, 2014 and 2013, QEP's nonqualified retirement plan was unfunded. During the year ended December 31, 2014, the Company recognized a $9.3 million loss on curtailment and $1.9 million in expenses for special termination benefits in connection with the Midstream Sale (see Note 3 - Discontinued Operations) and the 2014 property sales in the Midcontinent area (see Note 2 - Acquisitions and Divestitures). The Pension Plan was amended to provide certain termination benefits for participants impacted by the Midstream Sale and the 2014 Midcontinent property sales who were aged 50-54 as of the date of their separation from the Company. These expenses are included within "Net income from discontinued operations, net of income tax" and "Net gain (loss) from asset sales" for the year ended December 31, 2014, on the Consolidated Statements of Operations. During the year ended December 31, 2012, the Company recognized a $2.2 million loss on curtailment as part of its restructuring and related termination benefits (see Note 8 - Restructuring Costs). A curtailment is recognized immediately when there is a significant reduction in, or an elimination of, defined benefit accruals for present employees' future services. During the year ended December 31, 2014, the Company made contributions of $8.1 million to its funded qualified pension plan. Contributions to funded qualified plans increase plan assets. During the year ended December 31, 2014, the Company made payments of $4.9 million of benefits pursuant to its unfunded nonqualified retirement plan. Payments to the unfunded nonqualified plans are used to fund current benefit payments. During 2015, the Company expects to contribute approximately $4.0 million to its funded pension plan, pay approximately $4.4 million of benefits under its unfunded nonqualified pension plan and pay approximately $0.3 million for retiree health care and life insurance benefits. The accumulated benefit obligation for all defined-benefit pension plans was $121.8 million and $101.0 million at December 31, 2014 and 2013, respectively. The following table sets forth changes in the benefit obligations and fair value of plan assets for the Company's pension and other postretirement benefit plans for the years ended December 31, 2014 and 2013, as well as the funded status of the plans and amounts recognized in the financial statements at December 31, 2014 and 2013:
The following table sets forth the Company's pension and other postretirement benefit cost and amounts recognized in other comprehensive income (before tax) for the respective years ended December 31:
The estimated portion of net actuarial loss and net prior service cost for the pension plans that will be amortized from AOCI into net periodic benefit cost in 2015 is $4.1 million, which represents amortization of prior service cost recognition and actuarial losses. The estimated portion to be recognized in net periodic cost for other postretirement benefits from AOCI in 2015 is $0.2 million, which represents amortization of prior service cost recognition. Amortization of prior service costs and actuarial losses/gains out of AOCI are recognized in the Consolidated Statements of Operations in "General and administrative." Following are the weighted-average assumptions (weighted by the plan level benefit obligation for pension benefits) used by the Company to calculate pension and other postretirement benefit obligations at December 31, 2014 and 2013:
The discount rate assumptions used by the Company represents an estimate of the interest rate at which the pension and other postretirement obligations could effectively be settled on the measurement date. Following are the weighted-average assumptions (weighted by the net period benefit cost for pension benefits) used by the Company in determining the net periodic pension and other postretirement benefit cost for the years ended December 31:
In selecting the assumption for expected long-term rate of return on assets, the Company considers the average rate of return expected on the funds to be invested to provide benefits. This includes considering the plan's asset allocation, historical returns on these types of assets, the current economic environment and the expected returns likely to be earned over the life of the plan. No plan assets are expected to be returned to the Company in 2015. Historical health care cost trend rates are not applicable to the Company, because the Company's medical costs are capped at a fixed amount. As the Company's medical costs are capped at a fixed amount, the sensitivity to increases and decreases in the health-care inflation rate is not applicable. Plan Assets The Company's Employee Benefits Committee (EBC) oversees investment of qualified pension plan assets. The EBC uses a third-party asset manager to assist in setting targeted-policy ranges for the allocation of assets among various investment categories. The EBC allocates pension-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. These characteristics affect the level, risk and expected growth of postretirement-benefit assets. The EBC uses asset-mix guidelines that include targets for each asset category, return objectives for each asset group and the desired level of diversification and liquidity. These guidelines may change from time to time based on the committee'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. Responsibility for individual security selection rests with each investment manager, who is subject to guidelines specified by the EBC. 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. Performance for each investment is measured relative to the appropriate index benchmark for its category. QEP 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 QEP shares for the periods disclosed. The majority of retirement-benefit assets were invested as follows: Equity securities: Domestic equity assets were invested in a combination of index funds and actively managed products, with a diversification goal representative of the whole U.S. stock market. Foreign equity securities consisted of developed and emerging market foreign equity assets that were invested in funds that hold diversified portfolio of common stocks of corporations in developed and emerging foreign countries. Debt securities: 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. Investment grade long-term debt assets are invested in a diversified portfolio of debt of corporate and non-corporate issuers, with an average maturity of more than ten years and investment grade credit ratings. High yield and bank loan assets are held in funds holding a diversified portfolio of these instruments with an average maturity of 5 to 7 years. Although the actual allocation to cash and short-term investments is minimal (less than 1%), larger cash allocations may be held from time to time if deemed necessary for operational aspects of the retirement plan. Cash is invested in a high-quality, short-term temporary investment fund that purchases investment-grade quality short-term debt issued by governments and corporations. Commingled funds: The EBC made the decision to invest all of the retirement plan assets in commingled funds as these funds typically have lower expense ratios and are more tax efficient than mutual funds. While commingled funds are classified as Level 3 assets because there are calculations involved in determining the net asset value of the funds, the underlying assets can be traced back to observable asset values and these commingled funds are audited annually by an independent accounting firm. The fair value measurement provision of ASC 820, Fair Value Measurements, defines fair value in applying generally accepted accounting principles as well as establishes a framework for measuring fair value and for making disclosures about fair-value measurements. Fair value measurement establishes a fair-value hierarchy. Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for an asset, either directly or indirectly. Level 3 inputs are unobservable and significant to the fair value measurement. The Company's Level 3 investments are public investment vehicles valued using the net asset value (NAV) of the fund, but are considered Level 3 because they are commingled funds. The NAV is based on the value of the underlying assets owned by the fund excluding transaction costs, and minus liabilities. The following table sets forth by level, within the fair value hierarchy, the fair value of pension and postretirement benefit assets:
The following table presents a summary of changes in the fair value of QEP's Level 3 investments:
Expected Benefit Payments As of December 31, 2014, the following future benefit payments are expected to be paid:
Employee Investment Plan QEP employees may participate in the QEP Employee Investment Plan, a defined-contribution plan (the 401(k) Plan). The 401(k) Plan allows eligible employees to make investments, including purchasing shares of QEP common stock, through payroll deduction at the current fair market value on the transaction date. For the years ended December 31, 2014 and 2013, the Company made matching contributions for employees not covered by the Pension Plan equal to 100% of employees' contributions up to a maximum of 8% of their qualifying earnings. Employees in the Pension Plan are eligible for a 6% match. For the year ended December 31, 2012, the Company made matching contributions equal to 100% of employees' contributions up to a maximum of 6% of their qualifying earnings. The Company may contribute a discretionary portion beyond the Company's matching contribution to employees not in the Pension Plan, and for the year ended December 31, 2012, the Company made such discretionary contributions equal to 2% of each eligible employee's compensation. The Company recognizes expense equal to its yearly contributions, which amounted to $7.6 million, $6.9 million and $6.4 million during the years ended December 31, 2014, 2013 and 2012, respectively. |
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The entire disclosure for pension and other postretirement benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Income Taxes
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Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Disclosure [Text Block] | Details of income tax provisions and deferred income taxes from continuing operations are provided in the following tables. The components of income tax provisions and benefits were as follows:
The difference between the statutory federal income tax rate and the Company's effective income tax rate is explained as follows:
Significant components of the Company's deferred income taxes were as follows:
The amounts and expiration dates of net operating loss and tax credit carryforwards at December 31, 2014 are as follows:
The valuation allowance of $18.4 million was established in 2014 against the available state net operating loss and is related primarily to losses incurred in Oklahoma. Due to the 2014 Midcontinent property sales in which the Company sold its interests in most of its properties in Oklahoma, the Company does not forecast sufficient taxable income to utilize the net operating loss in Oklahoma. |
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The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Operations by Line of Business
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Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operations by Line of Business | QEP’s lines of business include oil and gas exploration and production (QEP Energy); and marketing, the Haynesville Gathering System, an underground storage reservoir, and corporate (QEP Marketing and Other). The lines of business are managed separately and therefore the financial information is presented separately due to the distinct differences in the nature of operations of each line of business, among other factors. Our financial results for 2014 and for prior periods have been revised, in accordance with GAAP, to reflect the impact of the Midstream Sale. See Note 3 - Discontinued Operations for detailed information on the Midstream Sale. The following table is a summary of operating results for the year ended December 31, 2014, by line of business:
The following table is a summary of operating results for the year ended December 31, 2013, by line of business:
The following table is a summary of operating results for the year ended December 31, 2012, by line of business:
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The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Quarterly Financial Information (Unaudited)
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Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Quarterly Financial Information [Text Block] | The following table provides a summary of unaudited quarterly financial information:
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The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Supplemental Gas and Oil Information (Unaudited)
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Oil and Gas Exploration and Production Industries Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Oil and Gas Exploration and Production Industries Disclosures [Text Block] | The Company is making the following supplemental disclosures of oil and gas producing activities, in accordance with ASC 932, Extractive Activities - Oil and Gas, as amended by ASU 2010-03, Oil and Gas Reserve Estimation and Disclosures, and SEC Regulation S-X. The Company uses the successful efforts accounting method for its oil and gas exploration and development activities. All properties are located in the United States. Capitalized Costs The aggregate amounts of costs capitalized for oil and gas exploration and development activities and the related amounts of accumulated depreciation, depletion and amortization are shown below:
Costs Incurred The costs incurred in oil and gas acquisition, exploration and development activities are displayed in the table below. Development costs are net of the change in accrued capital costs of $10.2 million and ARO additions and revisions of $51.1 million during the year ended December 31, 2014. The costs incurred to advance the development of reserves that were classified as proved undeveloped were approximately $796.7 million in 2014, $645.9 million in 2013, and $513.0 million in 2012.
Results of Operations Following are the results of operations of QEP Energy's oil and gas producing activities, before allocated corporate overhead and interest expenses.
Estimated Quantities of Proved Oil and Gas Reserves Estimates of proved oil and gas reserves have been completed in accordance with professional engineering standards and the Company's established internal controls, which includes the compliance oversight of a multi-functional reserves review committee responsible to the Company's Board of Directors. QEP Energy's estimated proved reserves have been prepared by Ryder Scott Company, L.P. and DeGolyer and MacNaughton, independent reservoir engineering consultants, in accordance with the SEC's Regulation S-X and ASC 932 as amended. The individuals performing reserves estimates possess professional qualifications and demonstrate competency in reserves estimation and evaluation. The estimates of proved reserves are inherently imprecise and are continually subject to revision based on production history, results of additional exploration and development, price changes and other factors. All of QEP Energy's proved undeveloped reserves at December 31, 2014, are scheduled to be developed within five years from the date such locations were initially disclosed as proved undeveloped reserves; however, long-term development of gas reserves in Pinedale is governed by the Bureau of Land Management's September 2008, Record of Decision (ROD) on the Final Supplemental Environmental Impact Statements. Under the ROD, QEP Energy is allowed to drill and complete wells year-round in designated concentrated development areas. The ROD contains additional requirements and restrictions on the sequence of development, which requires the Company to develop its leasehold from the south to the north. These restrictions result in protracted, phased development that is beyond the control of the Company. The Company has an ongoing development plan and the financial capability to continue development in the manner estimated. Additionally, QEP Energy plans to develop its PUD reserves prior to lease expiration or extend the term of the lease. As of December 31, 2014, all of the Company's oil and gas reserves are attributable to properties within the United Sates. A summary of the Company's change in quantities of proved oil and gas reserves for the years ended December 31, 2012, 2013 and 2014 are as follows:
Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Reserves Future net cash flows were calculated at December 31, 2014, 2013 and 2012, by applying prices, which were the simple average of the first-of-the-month commodity prices, adjusted for location and quality differentials, for each of the 12 months during 2014, 2013 and 2012, with consideration of known contractual price changes. The prices used do not include any impact of QEP's commodity derivatives portfolio. The following table provides the average benchmark prices per unit, before location and quality differential adjustments, used to calculate the related reserve category:
Year-end operating expenses, development costs and appropriate statutory income tax rates, with consideration of future tax rates, 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 estimated future costs to develop booked proved undeveloped reserves are approximately $925.7 million in 2015, $983.7 million in 2016 and $714.3 million in 2017. The assumptions used to derive the standardized measure of discounted future net cash flows are those required by accounting standards and do not necessarily reflect the Company's expectations. The information may be useful for certain comparative purposes, but should not be solely relied upon in evaluating QEP or its performance. Furthermore, information contained in the following table may not represent realistic assessments of future cash flows, nor should the standardized measure of discounted future net cash flows be viewed as representative of the current value of the Company's reserves. Management believes that the following factors should be considered when reviewing the information below:
The standardized measure of discounted future net cash flows relating to proved reserves is presented in the table below:
The principal sources of change in the standardized measure of discounted future net cash flows relating to proved reserves is presented in the table below:
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The entire disclosure for oil and gas producing industries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Schedule of Valuation and Qualifying Accounts
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Valuation And Qualifying Accounts Abstract [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Valuation and Qualifying Accounts | QEP RESOURCES, INC. Schedule of Valuation and Qualifying Accounts
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The entire disclosure for any allowance and reserve accounts (their beginning and ending balances, as well as a reconciliation by type of activity during the period). Alternatively, disclosure of the required information may be within the footnotes to the financial statements or a supplemental schedule to the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Summary of Significant Accounting Policies (Policies)
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Summary of Significant Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nature of Operations [Text Block] | Nature of Business QEP Resources, Inc. (QEP or the Company) is a holding company with two subsidiaries, QEP Energy Company and QEP Marketing Company, which are engaged in two primary lines of business: (i) oil and gas exploration and production (QEP Energy) and (ii) oil and gas marketing, operation of the Haynesville Gathering System and an underground gas storage reservoir (QEP Marketing and Other). QEP's operations are focused in two geographic regions: the Northern Region (primarily in Wyoming, North Dakota and Utah) and the Southern Region (primarily in Texas and Louisiana) of the United States. QEP's corporate headquarters are located in Denver, Colorado. In October 2014, the Company announced that its wholly owned subsidiary, QEP Field Services Company (QEP Field Services), had entered into a definitive agreement to sell substantially all of its midstream business, including the Company's ownership interest in QEP Midstream Partners, LP (QEP Midstream), to Tesoro Logistics LP (Tesoro). On December 2, 2014, QEP closed the sale of its midstream business to Tesoro (Midstream Sale) for total cash proceeds of $2.5 billion, including $230.0 million to refinance debt at QEP Midstream, subject to post-closing adjustments, and QEP recorded a pre-tax gain of $1.8 billion on its Consolidated Statements of Operations in "Net income from discontinued operations, net of income tax" for the year ended December 31, 2014. The decision to sell the midstream business was the result of the Company’s ongoing review of strategic alternatives to maximize shareholder value. QEP Marketing retained ownership of the Haynesville Gathering System. As a result of the Midstream Sale, the QEP Field Services reporting segment, excluding the retained ownership of the Haynesville Gathering System, has been classified as a discontinued operation on the Consolidated Statement of Operations and the Notes accompanying the Consolidated Financial Statements. For reporting purposes, the Haynesville Gathering System, which was retained by QEP Marketing, has been combined with QEP Marketing and Other. Shares of QEP’s common stock trade on the New York Stock Exchange under the ticker symbol “QEP”. |
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Consolidation, Policy [Policy Text Block] | Principles of Consolidation The Consolidated Financial Statements contain the accounts of QEP and its majority-owned or controlled subsidiaries. The Consolidated Financial Statements were prepared in accordance with GAAP and with the instructions for annual reports on Form 10-K and Regulations S-X and S-K. All significant intercompany accounts and transactions have been eliminated in consolidation. All dollar and share amounts in this Annual Report on Form 10-K are in millions, except per-share information and where otherwise noted. |
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Reclassification, Policy [Policy Text Block] | Reclassifications The 2013 and 2012 financial information has been recast so that the basis of presentation is consistent with that of the 2014 financial information. This recast reflects the financial condition and results of operations of QEP Field Services, excluding the Haynesville Gathering System, as discontinued operations for all periods presented. For reporting purposes, the retained Haynesville Gathering System has been combined with QEP Marketing and Other. For a summary of discontinued operations see Note 3 - Discontinued Operations. |
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Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of the Consolidated Financial Statements and Notes in conformity with GAAP requires that management formulate estimates and assumptions that affect revenues, expenses, assets, liabilities and the disclosure of contingent assets and liabilities. A significant item that requires management's estimates and assumptions is the estimate of proved gas, oil and NGL reserves which are used in the calculation of depreciation, depletion and amortization rates of its oil and gas properties, impairment of proved properties and asset retirement obligations. Changes in estimated quantities of its reserves could impact the Company's reported financial results as well as disclosures regarding the quantities and value of proved oil and gas reserves. Other items subject to estimates and assumptions include the carrying amount of property, plant and equipment, assigning fair value and allocating purchase price in connection with business combinations, valuation allowances for receivables, income taxes, valuation of derivatives instruments, accrued liabilities, accrued revenue and related receivables and obligations related to employee benefits, among others. Although management believes these estimates are reasonable, actual results could differ from these estimates. |
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Risks And Uncertainties [Policy Text Block] | Risks and Uncertainties The Company’s revenue, profitability and future growth are substantially dependent upon the prevailing and future prices for gas, oil and NGL, each of which depend on numerous factors beyond the Company’s control such as economic conditions, regulatory developments, global supply and demand and competition from other energy sources. The energy markets historically have been volatile and oil and gas prices at the end of 2014 and during the first part of 2015 have been substantially lower than recent historical averages, and may be subject to significant fluctuations in the future. The Company’s derivative contracts serve to mitigate a portion of the effect of this price volatility on the Company’s cash flows, and the Company has derivative contracts in place for a portion of its expected 2015 and 2016 oil and gas production. See Note 7 - Derivative Contracts for the Company’s open oil and gas commodity derivative contracts. The Company is dependent on cash on hand, availability under its credit facility, along with cash flows from operating activities, to fund its capital expenditures. Based on its current cash on hand, anticipated oil and gas prices and availability under its credit facility, the Company expects to be able to fund its planned capital expenditures and operating expenses for 2015. However, a substantial or extended decline in oil and gas prices could have an adverse effect on the Company’s financial position, results of operations, cash flows and quantities of oil and gas reserves that may be economically produced, and could impact the Company’s ability to comply with the financial covenants under the credit facility and could limit further borrowings to fund capital expenditures. Additionally, as forward prices have continued to decline during 2015, there could be additional impairment charges to our oil and gas assets or other investments. |
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Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition QEP subsidiaries recognize revenues in the period that services are provided or products are delivered. Revenues associated with the sale of oil, gas and NGL are accounted for using the sales method, whereby revenue is recognized as oil, gas and NGL is sold to purchasers. A liability is recorded in the event that the Company has sold volumes in excess of its share of remaining oil and gas reserves in an underlying property. QEP's imbalance obligations at December 31, 2014 and 2013, were $7.9 million and $10.7 million, respectively. QEP Marketing reports revenues on a gross basis because, in the judgment of management, the nature and circumstances of its marketing transactions are consistent with guidance for gross revenue reporting. QEP Marketing markets affiliate and third-party gas, oil and NGL volumes. QEP Marketing uses derivatives to secure a known price for a specific volume over a specific time period. QEP Marketing does not engage in speculative hedging transactions, nor does it buy and sell energy contracts with the objective of generating profits on short-term differences in price. QEP Marketing has not engaged in buy/sell arrangements, as described in ASC 845-10-25-4, Accounting for Purchases and Sales of Inventory with the Same Counterparty. In most states in which QEP Energy operates, QEP pays production taxes based on a percentage of field-level revenue, except in Louisiana, where severance taxes are volume based. |
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Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents and Restricted Cash Cash equivalents consist principally of highly liquid investments in securities with maturities of three months or less made through commercial-bank accounts that result in available funds the next business day. As of December 31, 2014, none of QEP's cash and cash equivalents were restricted. As of December 31, 2013, QEP's restricted cash balance was $50.0 million, which consisted of a deposit paid by QEP that was held in escrow for an acquisition (see Note 2 - Acquisitions and Divestitures for further discussion on the acquisition). The cash payment is shown in investing activities on the Consolidated Statements of Cash Flows. Supplemental cash flow information is shown in the below table:
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Receivables, Policy [Policy Text Block] | Accounts Receivable Trade Accounts receivable trade consists mainly of receivables from oil and gas purchasers and joint interest owners on properties the Company operates. For receivables from joint interest owners, the Company has the ability to withhold future revenue disbursements to recover any non-payment of joint interest billings. Generally, the Company's oil and gas receivables are collected and bad debts are minimal. Bad debt expense associated with accounts receivable for the years ended December 31, 2014, 2013 and 2012, was $2.1 million, $0.1 million, and $1.3 million, respectively. The Company routinely assesses the recoverability of all material trade and other receivables to determine their collectability. The allowance for bad debt expenses was $4.6 million at December 31, 2014 and $2.2 million at December 31, 2013. |
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Property, Plant and Equipment, Policy [Policy Text Block] | Property, Plant and Equipment Property, plant and equipment balances are stated at historical cost. Material and supplies inventories are valued at the lower of cost or market. Maintenance and repair costs are expensed as incurred. Significant accounting policies for our property, plant and equipment are as follows: Oil and gas properties The Company follows the successful efforts method of accounting for oil and gas property acquisitions, exploration, development and production activities. Under this method, the acquisition costs of proved and unproved properties, successful exploratory wells and development wells are capitalized. Other exploration costs, including geological and geophysical costs, delay rentals and administrative costs associated with unproved property and unsuccessful exploratory well costs are expensed. Costs to operate and maintain wells and field equipment are expensed as incurred. A gain or loss is generally recognized only when an entire field is sold or abandoned, or if the unit-of-production depreciation, depletion and amortization rate would be significantly affected. Capitalized costs of unproved properties are reclassified to proved property when related proved reserves are determined or charged against the impairment allowance when abandoned. Capitalized exploratory well costs The Company capitalizes exploratory well costs until it determines whether an exploratory well is commercial or noncommercial. If the Company deems the well commercial, capitalized costs are depreciated on a field basis using the unit-of-production method and the estimated proved developed oil and gas reserves. If the Company concludes that the well is noncommercial, well costs are immediately charged to exploration expense. Exploratory well costs that have been capitalized for a period greater than one year since the completion of drilling are expensed unless the Company remains engaged in substantial activities to assess whether the well is commercial. Depreciation, depletion and amortization Capitalized proved leasehold costs are depleted on a field-by-field basis using the unit-of-production method and the estimated proved oil and gas reserves. Capitalized costs of exploratory wells that have found proved oil and gas reserves and capitalized development costs are depreciated using the unit-of-production method based on estimated proved developed reserves for a successful effort field. The Company capitalizes an estimate of the fair value of future abandonment costs. Depreciation, depletion and amortization for the Company's remaining properties is generally based upon rates that will systematically charge the costs of assets against income over the estimated useful lives of those assets using the straight-line method. The estimated useful lives of those assets depreciated under the straight-line basis generally range as follows:
Impairment of Long-Lived Assets Proved oil and gas properties are evaluated on a field-by-field basis for potential impairment. Impairment is indicated when a triggering event occurs and/or 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 oil and gas reserves caused by mechanical problems, faster-than-expected decline of reserves, lease ownership issues, and other than temporary declines in gas, oil and NGL prices. If impairment is indicated, fair value is calculated using a discounted-cash flow approach. Cash flow estimates require forecasts and assumptions for many years into the future for a variety of factors, including commodity prices, operating costs, and estimates of proved, probable and possible reserves. Cash flow estimates relating to future cash flows from probable and possible reserves are reduced by additional risk-weighting factors. Unproved properties are evaluated on a specific-asset basis or in groups of similar assets, as applicable. The Company performs periodic assessments of unproved oil and gas properties for impairment and recognizes a loss at the time of impairment. In determining whether an unproved property is impaired, the Company considers numerous factors including, but not limited to, current development and exploration drilling plans, favorable or unfavorable exploration activity on adjacent leaseholds, in-house geologists' evaluation of the lease, future reserve cash flows and the remaining lease term. During the year ended December 31, 2014, QEP recorded impairment charges of $1,143.2 million, of which $1,041.4 million related to price-related impairment charges on proved properties and $101.8 million related to impairment on unproved properties due to lower future prices, lease expirations and changes in drilling plans. Of the $1,143.2 million property impairment charges incurred during the year ended December 31, 2014, $1,116.8 million related to oil and gas properties in the Southern Region and $26.4 million related to oil and gas properties in the Northern Region. During the year ended December 31, 2013, QEP recorded impairment charges of $93.0 million, of which $1.2 million was related to price-related impairment charges on proved properties and $32.3 million was related to impairment on unproved properties due to lease expirations and changes in drilling plans. An additional $59.5 million of impairment was recorded due to the write-off of goodwill (see Goodwill section within this note for additional information). Of the $33.5 million of property impairment charges incurred during the year ended December 31, 2013, $17.5 million related to oil and gas properties in the Southern Region and $16.0 million related to oil and gas properties in the Northern Region. During the year ended December 31, 2012, QEP recorded impairment charges of $133.0 million on its oil and gas properties. Of the $133.0 million charges during the year ended December 31, 2012, $107.6 million related to price-related impairment charges on proved properties and $25.4 million related to impairment on unproved properties. The impairment charges reflect the reduced value of certain fields resulting from lower gas, oil and NGL prices and impairments of unproven leasehold acquisition costs. Of the $133.0 million impairment charges during the year ended December 31, 2012, $104.7 million related to oil and gas properties in the Southern Region and $28.3 million related to oil and gas properties in the Northern Region. Asset Retirement Obligations QEP is obligated to fund the costs of disposing of long-lived assets upon their abandonment. The majority of QEP's asset retirement obligations (ARO) relate to the plugging of wells and the related abandonment of oil and gas properties. ARO associated with the retirement of tangible long-lived assets are recognized as liabilities with an increase to the carrying amounts of the related long-lived assets in the period incurred. The cost of the tangible asset, including the asset retirement costs, is depreciated over the useful life of the asset. ARO are recorded at estimated fair value, measured by reference to the expected future cash outflows required to satisfy the retirement obligations discounted at the Company's credit-adjusted risk-free interest rate. Accretion expense is recognized over time as the discounted liabilities are accreted to their expected settlement value. If estimated future costs of ARO change, an adjustment is recorded to both the asset retirement obligation and the long-lived asset. Revisions to estimated ARO can result from changes in retirement cost estimates, revisions to estimated inflation rates and changes in the estimated timing of abandonment. |
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Commitments and Contingencies, Policy [Policy Text Block] | Litigation and Other Contingencies In accordance with ASC 450, Contingencies, an accrual is recorded for a loss contingency when its occurrence is probable and damages can be reasonably estimated based on the anticipated most likely outcome or the minimum amount within a range of possible outcomes. QEP regularly reviews contingencies to determine the adequacy of its accruals and related disclosures. The amount of ultimate loss may differ from these estimates. See Note 10 - Commitments and Contingencies, for additional information. Except for environmental contingencies acquired in a business combination, which are recorded at fair value, QEP accrues losses associated with environmental obligations when such losses are probable and can be reasonably estimated. Accruals for estimated environmental losses are recognized no later than at the time the remediation feasibility study, or the evaluation of response options, is complete. These accruals are adjusted as additional information becomes available or as circumstances change. Future environmental expenditures are not discounted to their present value. Recoveries of environmental costs from other parties are recorded separately as assets at their undiscounted value when receipt of such recoveries is probable. |
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Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | 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. As of December 31, 2013, goodwill related to the Company's Uinta Basin reporting unit within QEP Energy was reduced to zero from $59.5 million in 2012 due to the recognition of impairment during 2013. Goodwill was tested for impairment under a two-step quantitative test on an annual basis or when a triggering event occurred. Under the first step, the estimated fair value of the reporting unit was compared with its carrying value (including goodwill). QEP determined fair value of its reporting units in which goodwill was allocated using the income approach in which the fair value was estimated based on the value of expected future cash flows. Key assumptions used in the cash flow model considered estimated quantities of oil, NGL and gas reserves, including both proved reserves and risk-adjusted unproved reserves, including probable and possible reserves; estimates of market prices considering forward commodity price curves as of the measurement date; and estimates of capital costs. If the fair value of the reporting unit exceeded its carrying value, step two did not need to be performed. If the estimated fair value of the reporting unit was less than its carrying value, an indication of goodwill impairment existed for the reporting unit and the enterprise performed step two of the impairment test (measurement). Under step two, an impairment loss was recognized for any excess of the carrying amount of the reporting unit’s goodwill over the implied fair value of that goodwill. The implied fair value of goodwill was determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation in acquisition accounting. The residual fair value after this allocation was the implied fair value of the reporting unit goodwill. Fair value of the reporting unit under the two-step assessment was determined using a discounted cash flow analysis. During the performance of QEP's annual goodwill impairment test at December 31, 2013, QEP failed the first step of the goodwill impairment test as described above. This was due primarily to lower forecasted oil and NGL prices. QEP performed the second step test described above resulting in a full write down of the Uinta reporting unit's goodwill of $59.5 million as of December 31, 2013. |
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Derivatives, Policy [Policy Text Block] | Derivative Instruments Effective January 1, 2012, the Company elected to de-designate all of its gas, oil and NGL derivative contracts that were previously designated as cash flow hedges and the Company elected to discontinue hedge accounting prospectively. Accordingly, all realized and unrealized gains and losses are recognized in earnings immediately as derivative contracts are settled and marked-to-market. For the years ended December 31, 2014, 2013 and 2012, an unrealized gain of $374.4 million, an unrealized loss of $88.7 million and an unrealized gain of $63.2 million, respectively, were included in income that, prior to January 1, 2012, would have been deferred in Accumulated Other Comprehensive Income (AOCI) under hedge accounting (Refer to Note 7 - Derivative Contracts, for additional information). At December 31, 2011, AOCI consisted of $395.9 million ($248.6 million after tax) of unrealized gains, representing the mark-to-market value of the Company's cash flow hedges as of the balance sheet date, less any ineffectiveness recognized. QEP fully reclassified all unrealized gains in AOCI into earnings during 2012 and 2013. All of QEP's derivative contracts are net settled in cash without delivery of product. These contracts also have a nominal quantity, exchange an index price for a fixed price, and are net settled with the brokers as the price bulletins become available. These derivative contracts are recorded in revenues or cost of sales in the month of settlement. Basis-only swaps are used to manage the risk of widening basis differentials. These contracts are marked-to-market monthly with any change in the valuation recognized in the determination of income. |
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Concentration Risk, Credit Risk, Policy [Policy Text Block] | Credit Risk Exposure to credit risk may be affected by the concentration of customers in these regions 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. Commodity-based hedging arrangements also expose the Company to credit risk. The Company monitors the creditworthiness of its counterparties, which generally are major financial institutions and energy companies. Loss reserves are periodically reviewed for adequacy and may be established on a specific case basis. QEP requests credit support and, in some cases, fungible collateral, financial guarantees, letters of credit or prepayment from companies with unacceptable credit risks. The Company has master-netting agreements with some counterparties that allow the offsetting of receivables and payables in a default situation. The Company's five largest customers accounted for 33%, 38%, and 27% of QEP's revenues for the years ended December 31, 2014, 2013 and 2012, respectively. During the year ended December 31, 2014, Valero Marketing and Supply Company made up 10% of the Company's total revenues. During the year ended December 31, 2013, Freepoint Commodities, LLC and Arrow Midstream Holdings, LLC accounted for 13% and 11%, respectively, of the Company's total revenues. During the year ended December 31, 2012, no customer accounted for 10% or more of QEP's total revenues. All of the these customers represent QEP Energy's customers and management believes that the loss of any of these customers, or any other customer, would not have a material effect on the financial position or results of operations of QEP, since there are numerous potential purchasers of its production. |
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Income Tax, Policy [Policy Text Block] | Income Taxes Deferred income taxes are provided 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. 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. ASC 740, Income Taxes, specifies 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. During the year ended December 31, 2014, the Company recorded a valuation allowance of $18.4 million against the state net operation loss deferred tax asset, because the sale of properties in Oklahoma in 2014 will preclude its utilization in the future. There were no unrecognized tax benefits at the beginning or end of the twelve-month periods ended December 31, 2013 and 2012. All federal income tax returns prior to 2014 have been examined by the Internal Revenue Service and are closed. Income tax returns for 2014 have not yet been filed. Most state tax returns for 2011 and subsequent years remain subject to examination. |
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TreasuryStock [Policy Text Block] | Treasury Stock We record treasury stock purchases at cost, which includes incremental direct transaction costs. Amounts are recorded as a reduction in shareholders' equity in the consolidated balance sheets. QEP acquires treasury stock from stock forfeitures and withholdings and uses the acquired treasury stock for option exercises and certain stock grants to employees; refer to Note 11 - Equity-Based Compensation for additional information. |
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Share Repurchases And Retirements [Policy Text Block] | Share Repurchases and Retirements In January 2014, QEP's Board of Directors authorized the repurchase of up to $500.0 million of the Company's outstanding shares of common stock. This program was extended through December 2015. The timing and amount of any QEP share repurchases will depend upon a number of factors, including general market conditions, the Company’s financial position and the estimated intrinsic value of the Company’s shares. The repurchase plan does not obligate QEP to acquire any specific number of shares and may be discontinued at any time. Shares repurchased under the plan represent common stock and are retired after repurchase. During December 2014, QEP repurchased 4,731,438 shares at a weighted average price of $21.08 per share, including commission of $0.02 per share, for $99.7 million under this program. |
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Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share Basic earnings per share (EPS) are computed by dividing net income attributable to QEP by the weighted-average number of common shares outstanding during the reporting period. Diluted EPS includes the potential increase in the number of outstanding shares that could result from the exercise of in-the-money stock options. QEP's unvested restricted shares are considered issued and outstanding, have a minimal historical forfeiture rate and receive dividends. Unvested equity-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents are considered participating securities and are included in the computation of earnings per share pursuant to the two-class method. The Company's unvested restricted stock awards contain non-forfeitable dividend rights and participate equally with common stock with respect to dividends issued or declared. However, the Company's unvested restricted stock does not have a contractual obligation to share in losses of the Company. The Company's unexercised stock options do not contain rights to dividends. Under the two-class method, the earnings used to determine basic earnings per common share are reduced by an amount allocated to participating securities. When the Company records a net loss, none of the loss is allocated to the participating securities since the securities are not obligated to share in Company losses. Use of the two-class method has an insignificant impact on the calculation of basic and diluted earnings per common share. For the twelve months ended December 31, 2014, 0.3 million shares were not included in diluted common shares outstanding as they were anti-dilutive due to QEP's net loss from continuing operations. A reconciliation of the components of basic and diluted shares used in the EPS calculation follows:
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Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Equity-Based Compensation QEP issues stock options and restricted shares to certain officers, employees and non-employee directors under its Long-Term Stock Incentive Plan (LTSIP). QEP uses the Black-Scholes-Merton mathematical model to estimate the fair value of stock options for accounting purposes. The granting of restricted shares results in recognition of compensation cost measured at the grant-date market price. QEP uses an accelerated method in recognizing equity-based compensation costs with graded-vesting periods. Stock options held by employees generally vest in three equal, annual installments and primarily have a term of seven years. Restricted shares vest in equal installments over a specified number of years after the grant date with the majority vesting in three years. Non-vested restricted shares have voting and dividend rights; however, sale or transfer is restricted. The Company also awards performance share units under its Cash Incentive Plan (CIP), which are paid out in cash depending upon the Company's total shareholder return compared to a group of its peers over a three-year period. The performance share unit's compensation cost is equal to its fair value as of the period end and is classified as a liability. For a summary of LTSIP and CIP transactions see Note 11 - Equity-Based Compensation. |
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Pension and Other Postretirement Plans, Policy [Policy Text Block] | Pension Plans, Other Postretirement Benefits and Defined-Contribution Plans QEP measures pension plan assets at fair value. Defined-benefit plan obligations and costs are actuarially determined, incorporating the use of various assumptions. Critical assumptions for pension and other postretirement plans include the discount rate, the expected rate of return on plan assets (for funded pension plans) and the rate of future compensation increases. Other assumptions involve demographic factors such as retirement, mortality and turnover. QEP evaluates and updates its actuarial assumptions at least annually. |
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Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income Comprehensive income is the sum of net income as reported in the Consolidated Statements of Operations and changes in the components of other comprehensive income. Other comprehensive income includes certain items that are recorded directly to equity and classified as AOCI. One component of other comprehensive income is changes in the market value of commodity-based derivative instruments for which the Company previously applied hedge accounting. Income or loss associated with such commodity-based derivative instruments was realized when the gas, oil or NGL underlying the derivative instrument was sold. Comprehensive income includes changes in the under-funded portion of the Company's defined benefit pension plans and other postretirement benefits plans and changes in deferred income taxes on such amounts. These transactions do not represent the culmination of the earnings process but result from periodically adjusting historical balances to fair value. |
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Segment Reporting, Policy [Policy Text Block] | 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. QEP's lines of business are QEP Energy and QEP Marketing and Other. QEP's former reporting segment, QEP Field Services, excluding the retained ownership of the Haynesville Gathering System, was sold in 2014 and has been classified as a discontinued operation on the Consolidated Statement of Operations and the Notes accompanying the Consolidated Financial Statements. The Haynesville Gathering System, which was retained by QEP Marketing, is included the reporting segment QEP Marketing and Other. |
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New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Developments In August 2014, the Financial Accounting Standards Board (FASB) issued ASU No. 2014-15, Presentation of Financial Statements-Going Concern (Topic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. This guidance provides additional information to guide management's evaluation of whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued. The update is effective for annual periods beginning on or after December 15, 2016. The Company is currently evaluating the impact of this standard on the Company's Consolidated Financial Statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), which seeks to provide a single, comprehensive revenue recognition model for all contracts with customers to improve comparability within industries, across industries, and across capital markets. The revenue standard contains principles that an entity will apply to determine the measurement of revenue and timing of when it is recognized. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The amendments are effective prospectively for reporting periods beginning after December 15, 2016 and early adoption is not permitted. The Company is currently assessing the impact on the Company's Consolidated Financial Statements. In April 2014, the FASB issued Accounting Standards Update (ASU) 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, which broadened the reporting of discontinued operations to a component of an entity that has operations and cash flows that can be clearly distinguished from the rest of the entity. Under this guidance, to be a discontinued operation, a component or group of components must represent a strategic shift that has (or will have) a major effect on an entity's operations and financial results. The amendments are effective prospectively for reporting periods beginning on or after December 15, 2014 and early adoption is permitted. The Company chose to early adopt ASU 2014-08 and implemented the amendments during the quarter ended September 30, 2014. |
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Risks And Uncertainties [Policy Text Block] No definition available.
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Share Repurchases And Retirements [Policy Text Block] No definition available.
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An entity's accounting policy for shares that have been repurchased. No definition available.
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Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for commitments and contingencies, which may include policies for recognizing and measuring loss and gain contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for comprehensive income. No definition available.
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Disclosure of accounting policy for credit risk. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for its derivative instruments and hedging activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for goodwill. This accounting policy also may address how an entity assesses and measures impairment of goodwill, how reporting units are determined, how goodwill is allocated to such units, and how the fair values of the reporting units are determined. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The entire disclosure for the nature of an entity's business, the major products or services it sells or provides and its principal markets, including the locations of those markets. If the entity operates in more than one business, the disclosure also indicates the relative importance of its operations in each business and the basis for the determination (for example, assets, revenues, or earnings). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. No definition available.
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Disclosure of accounting policy for pension and other postretirement benefit plans. This accounting policy may address (1) the types of plans sponsored by the entity, and the benefits provided by each plan (2) groups that participate in (or are covered by) each plan (3) how plan assets, liabilities and expenses are measured, including the use of any actuaries and (4) significant assumptions used by the entity to value plan assets and liabilities and how such assumptions are derived. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for reclassifications that affects the comparability of the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, basis of assets, depreciation and depletion methods used, including composite deprecation, estimated useful lives, capitalization policy, accounting treatment for costs incurred for repairs and maintenance, capitalized interest and the method it is calculated, disposals and impairments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for segment reporting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for trade and other accounts receivables. This disclosure may include the basis at which such receivables are carried in the entity's statements of financial position (for example, net realizable value), how the entity determines the level of its allowance for doubtful accounts, when impairments, charge-offs or recoveries are recognized, and the entity's income recognition policies for such receivables, including its treatment of related fees and costs, its treatment of premiums, discounts or unearned income, when accrual of interest is discontinued, how the entity records payments received on nonaccrual receivables and its policy for resuming accrual of interest on such receivables. If the enterprise holds a large number of similar loans, disclosure may include the accounting policy for the anticipation of prepayments and significant assumptions underlying prepayment estimates for amortization of premiums, discounts, and nonrefundable fees and costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Summary of Significant Accounting Policies (Tables)
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Dec. 31, 2014
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Summary of Significant Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash Flow, Supplemental Disclosures [Text Block] | Supplemental cash flow information is shown in the below table:
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Property, Plant and Equipment [Table Text Block] |
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Components of basic and diluted shares used in EPS |
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Acquisitions and Divestitures (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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Dec. 31, 2012
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Business Combinations [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Purchase Price Allocation [Table Text Block] |
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Business Acquisition, Pro Forma Information [Abstract] |
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X | ||||||||||
- Definition
Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Discontinued Operations (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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Discontinued Operations and Disposal Groups [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Statement Impact Of Discontinued Operations [Table Text Block] |
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Assets And Liabilities Of Discontinued Operations [Table Text Block] |
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- Definition
Assets And Liabilities Of Discontinued Operations [Table Text Block] No definition available.
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X | ||||||||||
- Definition
Income Statement Impact Of Discontinued Operations [Table Text Block] No definition available.
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X | ||||||||||
- Details
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Capitalized Exploratory Well Costs (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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Capitalized Exploratory Well Costs [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capitalized Exploratory Well Costs, Roll Forward [Table Text Block] |
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- Details
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X | ||||||||||
- Definition
Tabular disclosure of the change in capitalized exploratory costs during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Asset Retirement Obligations (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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Asset Retirement Obligation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset retirement obligations roll forward | The following is a reconciliation of the changes in the Company's ARO for the periods specified below:
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Tabular disclosure of the changes in carrying amount of a liability for asset retirement obligations, for changes such as new obligations, changes in estimates of existing obligations, spending on existing obligations, property dispositions, and foreign currency translation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair Value Measurements (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2014
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value of financial assets and liabilities | The fair value of financial assets and liabilities at December 31, 2014 and 2013, is shown in the tables below:
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Fair value and related carrying amount of certain financial instruments | The following table discloses the fair value and related carrying amount of certain financial instruments not disclosed in other Notes to the Consolidated Financial Statements in this Annual Report on Form 10-K:
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X | ||||||||||
- Definition
Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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Derivative Contracts (Tables)
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Dec. 31, 2014
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Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Volumes and Average Prices | QEP Energy's Derivative Contracts The following table sets forth QEP Energy's quantities and average prices for its commodity derivative contracts as of December 31, 2014:
The following table sets forth QEP Energy's crude oil sales costless collars as of December 31, 2014:
The following table sets forth QEP Energy's oil basis swaps as of December 31, 2014:
QEP Marketing Derivative Contracts QEP Marketing enters into commodity derivative transactions to lock in a margin on gas volumes placed into storage and for marketing transactions in which QEP Marketing sells gas volumes at a fixed price. The following table sets forth QEP Marketing's volumes and swap prices for its commodity derivative contracts as of December 31, 2014:
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Fair values of Derivatives by Balance Sheet Location | The following table presents the balance sheet location of QEP's outstanding derivative contracts on a gross contract basis as opposed to the net contract basis presentation in the Consolidated Balance Sheets and the related fair values at the balance sheet dates:
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Effects of Derivative Transactions | The effects of the change in fair value and settlement of QEP's derivative contracts recorded in "Realized and Unrealized gains on derivatives" on the Consolidated Statements of Operations are summarized in the following tables:
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tabular disclosure of the notional amounts of outstanding derivative positions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Restructuring Costs (Tables)
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Restructuring Costs [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reconciliation of QEP Energy's restructuring cost |
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Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Debt (Tables)
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Dec. 31, 2014
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Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Outstanding |
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Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. No definition available.
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Commitments and Contingencies (Tables)
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Dec. 31, 2014
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Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||
Unrecorded Unconditional Purchase Obligations Disclosure [Table Text Block] | Annual payments and the corresponding years for gathering, processing, transportation, storage, drilling, and fractionation contracts are as follows (in millions):
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Operating Leases of Lessee Disclosure [Table Text Block] | Minimum future payments under the terms of long-term operating leases for the Company's primary office locations are as follows (in millions):
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Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Tabular disclosure of unconditional purchase obligations that are not recognized as a liability on the balance sheet, including the nature and significant terms of an unconditional purchase obligation; the amount of the fixed and determinable portion of the obligation as of the date of the latest balance sheet presented in the aggregate and, if determinable, for each of the five succeeding fiscal years; the nature of any variable components of the obligation; the amount purchased under the obligation (for example, the take-or-pay or throughput contract) for the reporting period; and may include the amount of imputed interest necessary to reduce the obligation to present value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Equity-Based Compensation (Tables)
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Dec. 31, 2014
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Share-based Compensation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of calculated fair value of options granted and major assumptions used | The calculated fair value of options granted and major assumptions used in the model at the date of grant are listed below:
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Summary of stock option transactions under the terms of LTSIP | Stock option transactions under the terms of the LTSIP are summarized below:
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Restricted Shares and Performance Share Units Activity | Restricted Shares Restricted share grants typically vest in equal installments over a three-year period from the grant date. The grant date fair value is determined based on the closing bid price of the Company's common stock on the grant date. The total fair value of restricted stock that vested during the years ended December 31, 2014, 2013 and 2012, was $26.8 million, $19.8 million and $16.7 million, respectively. The Company realized an income tax expense of $0.5 million, $0.1 million and $0.3 million for the years ended December 31, 2014, 2013 and 2012, respectively. Restricted stock increased the Company's APIC pool by $0.3 million as of December 31, 2014. The weighted average grant-date fair value of restricted stock granted during the years was $31.40 per share, $30.06 per share and $30.54 per share for the years ended December 31, 2014, 2013 and 2012, respectively. As of December 31, 2014, $18.3 million of unrecognized compensation cost related to restricted shares granted under the LTSIP is expected to be recognized over a weighted-average vesting period of 2.10 years. Transactions involving restricted shares under the terms of the LTSIP are summarized below:
Performance Share Units The performance share units' cash payouts are dependent upon the Company's total shareholder return compared to a group of its peers over a three-year period. The awards are denominated in share units but delivered in cash at the end of the performance period. The weighted average grant-date fair values of the performance share units granted during the years ended December 31, 2014, 2013 and 2012, were $31.57, $30.12, and $30.75 per unit, respectively. As of December 31, 2014, $2.3 million of unrecognized compensation cost classified as a liability, or the fair market value, related to performance shares granted under the CIP is expected to be recognized over a weighted-average vesting period of 1.90 years. Transactions involving performance share units under the terms of the CIP are summarized below:
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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. No definition available.
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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Employee Benefits (Tables)
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Dec. 31, 2014
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Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | The following table sets forth changes in the benefit obligations and fair value of plan assets for the Company's pension and other postretirement benefit plans for the years ended December 31, 2014 and 2013, as well as the funded status of the plans and amounts recognized in the financial statements at December 31, 2014 and 2013:
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Pension and Other Postretirement Benefit Costs | The following table sets forth the Company's pension and other postretirement benefit cost and amounts recognized in other comprehensive income (before tax) for the respective years ended December 31:
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Schedule of Assumptions Used [Table Text Block] | Following are the weighted-average assumptions (weighted by the plan level benefit obligation for pension benefits) used by the Company to calculate pension and other postretirement benefit obligations at December 31, 2014 and 2013:
The discount rate assumptions used by the Company represents an estimate of the interest rate at which the pension and other postretirement obligations could effectively be settled on the measurement date. Following are the weighted-average assumptions (weighted by the net period benefit cost for pension benefits) used by the Company in determining the net periodic pension and other postretirement benefit cost for the years ended December 31:
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Defined Benefit Plan, Actual Plan Asset Allocations [Abstract] (Deprecated 2012-01-31) | The following table sets forth by level, within the fair value hierarchy, the fair value of pension and postretirement benefit assets:
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Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block] | The following table presents a summary of changes in the fair value of QEP's Level 3 investments:
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Schedule of Expected Benefit Payments [Table Text Block] | Expected Benefit Payments As of December 31, 2014, the following future benefit payments are expected to be paid:
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Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Tabular disclosure of the effect of fair value measurements using significant unobservable inputs (Level 3) on changes in plan assets of pension plans and/or other employee benefit plans for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Income Taxes (Tables)
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Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Details of income tax provisions and deferred income taxes from continuing operations are provided in the following tables. The components of income tax provisions and benefits were as follows:
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Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The difference between the statutory federal income tax rate and the Company's effective income tax rate is explained as follows:
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Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
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Summary of Operating Loss Carryforwards [Table Text Block] | The amounts and expiration dates of net operating loss and tax credit carryforwards at December 31, 2014 are as follows:
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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Operations by Line of Business (Tables)
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Dec. 31, 2014
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Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of operating results by line of business | The following table is a summary of operating results for the year ended December 31, 2014, by line of business:
The following table is a summary of operating results for the year ended December 31, 2013, by line of business:
The following table is a summary of operating results for the year ended December 31, 2012, by line of business:
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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Quarterly Financial Information (Unaudited) (Tables)
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Dec. 31, 2014
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Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | The following table provides a summary of unaudited quarterly financial information:
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Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Supplemental Gas and Oil Information (Unaudited) (Tables)
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Oil and Gas Exploration and Production Industries Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure [Table Text Block] |
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Cost Incurred in Oil and Gas Property Acquisition, Exploration, and Development Activities Disclosure [Table Text Block] |
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Results of Operations for Oil and Gas Producing Activities Disclosure [Table Text Block] | Following are the results of operations of QEP Energy's oil and gas producing activities, before allocated corporate overhead and interest expenses.
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Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities [Table Text Block] | As of December 31, 2014, all of the Company's oil and gas reserves are attributable to properties within the United Sates. A summary of the Company's change in quantities of proved oil and gas reserves for the years ended December 31, 2012, 2013 and 2014 are as follows:
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Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves Disclosure Price per Unit [Table Text Block] | he following table provides the average benchmark prices per unit, before location and quality differential adjustments, used to calculate the related reserve category:
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Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves Disclosure [Table Text Block] | he standardized measure of discounted future net cash flows relating to proved reserves is presented in the table below:
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Principal Sources of Change in Standardized measure of Discounted Future Net Cash Flows [Table Text Block] | he principal sources of change in the standardized measure of discounted future net cash flows relating to proved reserves is presented in the table below:
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Tabular disclosure of the sources of changes in the standardized measure of discounted future net cash flows during the period. No definition available.
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X | ||||||||||
- Definition
Tabular disclosure of aggregate capitalized costs relating to an enterprise's oil and gas producing activities and the aggregate related accumulated depreciation, depletion, amortization, and valuation allowances. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tabular disclosure of the aggregate of costs (whether the costs are capitalized or charged to expense at the time they are incurred ) incurred for the year in oil and gas property acquisition, exploration and development activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Tabular disclosure of oil and gas production including quantitative production data, average price, and per unit cost data. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tabular disclosure of the results of operations for oil and gas producing activities for the year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tabular disclosure of the net quantities of an enterprise's interests in proved developed and undeveloped reserves of (a) crude oil (including condensate and natural gas liquids), (b) natural gas (including coal bed methane), (c) synthetic oil, (d) synthetic gas, and (e) other nonrenewable natural resources that are intended to be upgraded during the period as of the beginning of the period, changes in quantities during the period, and as of the end of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tabular disclosure of the future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchase under long-term agreements in which the enterprise participates in the operation of the properties on which the oil and gas is located or otherwise serves as the producer. This information is presented in aggregate and for each geographic area for which reserve quantities are disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Summary of Significant Accounting Policies Nature of Business (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended |
---|---|
Dec. 31, 2014
|
|
Nature Of Business [Abstract] | |
Value of business sold | $ 2,500.0 |
Debt refinanced in business sale | 230.0 |
Pre-tax gain on sale of discontinued operations | $ 1,793.4 |
X | ||||||||||
- Definition
Debt Refinanced In Business Sale No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Value Of Business Sold No definition available.
|
X | ||||||||||
- Definition
Amount of gain (loss), before tax expense or benefit and not previously recognized, resulting from the sale of a business component. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Summary of Significant Accounting Policies Revenue Recognition (Details) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2014
|
Dec. 31, 2013
|
---|---|---|
Summary of Significant Accounting Policies [Abstract] | ||
Gas Balancing Asset (Liability) | $ 7.9 | $ 10.7 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The value of gas balancing asset or liability as of the end of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Summary of Significant Accounting Policies Cash and Cash Equivalents (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Accounting Policies [Abstract] | |||
Restricted cash | $ 0 | $ 50.0 | |
Cash paid for interest, net of capitalized interest | 163.2 | 156.7 | 105.1 |
Cash paid for income taxes | 0.3 | 77.9 | 30.0 |
Change in capital expenditure accrual balance | $ 8.4 | $ (25.2) | $ 88.5 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Future cash outflow to pay for purchases of fixed assets that have occurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of cash paid for interest during the period net of cash paid for interest that is capitalized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Cash and equivalents whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Summary of Significant Accounting Policies Property, plant and equipment (Details)
|
12 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|
Dec. 31, 2014
Building [Member]
Minimum [Member]
|
Dec. 31, 2013
Building [Member]
Maximum [Member]
|
Dec. 31, 2014
Leasehold Improvements [Member]
Minimum [Member]
|
Dec. 31, 2013
Leasehold Improvements [Member]
Maximum [Member]
|
Dec. 31, 2014
Equipment [Member]
Minimum [Member]
|
Dec. 31, 2013
Equipment [Member]
Maximum [Member]
|
Dec. 31, 2014
Furniture and Fixtures [Member]
Minimum [Member]
|
Dec. 31, 2013
Furniture and Fixtures [Member]
Maximum [Member]
|
|
Property, Plant and Equipment [Line Items] | ||||||||
Estimated Useful Life | 10 years | 30 years | 3 years | 10 years | 3 years | 7 years | 3 years | 7 years |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
Summary of Significant Accounting Policies Impairment of long-lived assets (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Impaired Long-Lived Assets Held and Used [Line Items] | |||
Impairment | $ 1,143.2 | $ 93.0 | $ 133.0 |
Impairment of Oil and Gas Properties | 1,143.2 | 33.5 | |
Goodwill, Impairment Loss | 59.5 | ||
Proved properties [Member]
|
|||
Impaired Long-Lived Assets Held and Used [Line Items] | |||
Impairment of Oil and Gas Properties | 1,041.4 | 1.2 | 107.6 |
Unproved properties [Member]
|
|||
Impaired Long-Lived Assets Held and Used [Line Items] | |||
Impairment of Oil and Gas Properties | 101.8 | 32.3 | 25.4 |
Southern Region [Member]
|
|||
Impaired Long-Lived Assets Held and Used [Line Items] | |||
Impairment of Oil and Gas Properties | 1,116.8 | 17.5 | 104.7 |
Northern Region [Member]
|
|||
Impaired Long-Lived Assets Held and Used [Line Items] | |||
Impairment of Oil and Gas Properties | $ 26.4 | $ 16.0 | $ 28.3 |
X | ||||||||||
- Definition
Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of loss from the write-down of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The expense recorded to reduce the value of oil and gas assets consisting of proved properties and unproved properties as the estimate of future successful production from these properties is reduced. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Summary of Significant Accounting Policies Goodwill (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | |
---|---|---|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Goodwill [Line Items] | ||
Goodwill | $ 59.5 | |
Goodwill, Impairment Loss | $ 59.5 |
X | ||||||||||
- Definition
Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of loss from the write-down of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Summary of Significant Accounting Policies Derivative instruments (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | |||
---|---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
Derivative [Line Items] | ||||
Unrealized (Loss) Gain on Derivatives | $ 374.4 | $ (88.7) | $ 63.2 | |
Accumulated Other Comprehensive Income Loss, Cumulative Changes In Gain Loss From Cash Flow Hedges Effect, Before Tax | 395.9 | |||
Unrealized gains on derivative contracts, net of tax | $ 248.6 |
X | ||||||||||
- Definition
Accumulated change, before tax, in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Includes an entity's share of an equity investee's Increase or Decrease in deferred hedging gains or losses. No definition available.
|
X | ||||||||||
- Definition
Accumulated change, net of tax, in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Includes an entity's share of an equity investee's Increase or Decrease in deferred hedging gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Summary of Significant Accounting Policies Credit Risk (Details)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 33.00% | 38.00% | 27.00% |
Valero Marketing And Supply Company [Member]
|
|||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 10.00% | ||
Freepoint Commodities [Member]
|
|||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 13.00% | ||
Arrow Midstream Holdings LLC [Member]
|
|||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 11.00% |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Summary of Significant Accounting Policies Income Taxes (Details) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2014
|
---|---|
Income Tax Disclosure [Abstract] | |
Deferred Tax Assets, Valuation Allowance | $ 18.4 |
X | ||||||||||
- Definition
Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Summary of Significant Accounting Policies Share Repurchases And Retirements (Details) (USD $)
In Millions, except Share data, unless otherwise specified |
12 Months Ended |
---|---|
Dec. 31, 2014
|
|
Share Repurchases And Retirements [Abstract] | |
Stock repurchase program, authorized amount | $ 500.0 |
Number of shares of common stock repurchased and retired | 4,731,438 |
Weighted average price of common stock repurchased and retired | $ 21.08 |
Commission paid per share of common stock repurchased and retired | $ 0.02 |
Value of stock repurchased and retired | $ 99.7 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Treasury Stock Acquired Commission Paid Per Share No definition available.
|
X | ||||||||||
- Definition
Amount of stock repurchase plan authorized. No definition available.
|
X | ||||||||||
- Definition
Total cost of shares repurchased divided by the total number of shares repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of decrease of par value, additional paid in capital (APIC) and retained earnings of common and preferred stock retired from treasury when treasury stock is accounted for under the cost method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of shares of common and preferred stock retired from treasury during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Summary of Significant Accounting Policies Earnings Per Share (Details)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | |||
Antidilutive shares excluded from computation of EPS | 0.3 | ||
Used in basic calculation | 179.8 | 179.2 | 177.8 |
Potential number of shares issuable upon excerise of in-the-money stock options under the Long-term Stock Incentive Plan | 0 | 0.3 | 0.9 |
Average diluted common shares outstanding (in shares) | 179.8 | 179.5 | 178.7 |
X | ||||||||||
- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of share based payment arrangements using the treasury stock method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Business Acquisition Transaction Costs No definition available.
|
X | ||||||||||
- Definition
Vertical Producing Oil And Gas Wells No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of liabilities incurred by the acquirer as part of consideration transferred in a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the amount of earnings or loss of the acquiree since the acquisition date included in the consolidated income statement for the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the amount of revenue of the acquiree since the acquisition date included in the consolidated income statement for the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of debt issuance costs (for example, but not limited to, legal, accounting, broker, and regulatory fees). No definition available.
|
X | ||||||||||
- Definition
The designation of funds furnished by a borrower to a lender to assure future payments of the borrower's real estate taxes and insurance obligations with respect to a mortgaged property. Escrow deposits may be made for a variety of other purposes such as earnest money and contingent payments. This element excludes replacement reserves which are an escrow separately provided for within the US GAAP taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fractional interest owned based on working interests or other economic arrangements of area spaced or assigned to productive wells. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The expense recorded to reduce the value of oil and gas assets consisting of proved properties and unproved properties as the estimate of future successful production from these properties is reduced. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow associated with the acquisition of business during the period. The cash portion only of the acquisition price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Acquisitions and Divestitures Schedule Of Purchase Accounting Entries (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | 12 Months Ended | ||||
---|---|---|---|---|---|---|
Dec. 31, 2014
Permian Basin Acquisition [Member]
|
Dec. 31, 2014
Permian Basin Acquisition [Member]
Proved Property [Member]
|
Dec. 31, 2014
Permian Basin Acquisition [Member]
Unproved Property [Member]
|
Dec. 31, 2014
Permian Basin Acquisition [Member]
Asset Retirement Obligation Costs [Member]
|
Dec. 31, 2014
Permian Basin Acquisition [Member]
Other Liabilities [Member]
|
Dec. 31, 2013
Williston Basin Acquisition [Member]
|
|
Business Acquisition [Line Items] | ||||||
Aggregate purchase price | $ 941.8 | $ 1,392.7 | ||||
Recognized identifiable assets acquired and liabilities assumed, net | $ 941.8 | $ 472.1 | $ 480.6 | $ (9.7) | $ (1.2) |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount recognized as of the acquisition date for the identifiable assets acquired in excess of (less than) the aggregate liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow associated with the acquisition of business during the period. The cash portion only of the acquisition price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Acquisitions and Divestitures Schedule of Pro Forma Results Of Operations (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014
|
Sep. 30, 2014
|
Jun. 30, 2014
|
Mar. 31, 2014
|
Dec. 31, 2013
|
Sep. 30, 2013
|
Jun. 30, 2013
|
Mar. 31, 2013
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Business Acquisition [Line Items] | |||||||||||
Revenues | $ 799.6 | $ 910.0 | $ 887.2 | $ 817.5 | $ 620.3 | $ 719.5 | $ 694.0 | $ 651.3 | $ 3,414.3 | $ 2,685.1 | $ 2,071.7 |
Net income attributable to QEP | 665.9 | 171.1 | (92.3) | 39.7 | (52.0) | 37.3 | 178.4 | (4.3) | 784.4 | 159.4 | 128.3 |
Earnings Per Share, Basic | $ 4.36 | $ 0.89 | $ 0.72 | ||||||||
Diluted total | $ 4.36 | $ 0.89 | $ 0.72 | ||||||||
Williston Basin Acquisition [Member]
|
|||||||||||
Business Acquisition [Line Items] | |||||||||||
Revenues | 2,071.7 | ||||||||||
Net income attributable to QEP | 128.3 | ||||||||||
Earnings Per Share, Basic | $ 0.72 | ||||||||||
Diluted total | $ 0.72 | ||||||||||
Business Acquisition, Pro Forma Revenue | 2,207.2 | ||||||||||
Business Acquisition, Pro Forma Net Income (Loss) | 143.0 | ||||||||||
Business Acquisition, Pro Forma Earnings Per Share, Basic | $ 0.80 | ||||||||||
Business Acquisition, Pro Forma Earnings Per Share, Diluted | $ 0.80 | ||||||||||
Permian Basin Acquisition [Member]
|
|||||||||||
Business Acquisition [Line Items] | |||||||||||
Revenues | 3,414.3 | 2,685.1 | |||||||||
Net income attributable to QEP | 784.4 | 159.4 | |||||||||
Earnings Per Share, Basic | $ 4.36 | $ 0.89 | |||||||||
Diluted total | $ 4.36 | $ 0.89 | |||||||||
Business Acquisition, Pro Forma Revenue | 3,440.4 | 2,858.8 | |||||||||
Business Acquisition, Pro Forma Net Income (Loss) | $ 791.4 | $ 195.3 | |||||||||
Business Acquisition, Pro Forma Earnings Per Share, Basic | $ 4.40 | $ 1.09 | |||||||||
Business Acquisition, Pro Forma Earnings Per Share, Diluted | $ 4.40 | $ 1.09 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The pro forma basic net income per share for a period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The pro forma diluted net income per share for a period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate revenue during the period related to oil and gas business activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Acquisitions and Divestitures Divestitures (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | |||
---|---|---|---|---|
Jun. 30, 2014
Midcontinent Divestitures [Member]
|
Jun. 30, 2013
Northern Region Divestitures [Member]
|
Dec. 31, 2014
Southern Region Divestitures [Member]
|
Sep. 30, 2013
Southern Region Divestitures [Member]
|
|
Significant Acquisitions and Disposals [Line Items] | ||||
Proceeds from Sale of Property, Plant, and Equipment | $ 692.9 | $ 138.5 | $ 94.9 | $ 67.3 |
Gain (Loss) on Disposition of Oil and Gas and Timber Property | $ (199.4) | $ 96.2 | $ 53.3 | $ 9.5 |
X | ||||||||||
- Definition
Amount of gain (loss) on sale or disposal of oil and gas property or timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Discontinued Operations (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Value of business sold | $ 2,500.0 | ||
Debt refinanced in business sale | 230.0 | ||
Pre-tax gain on sale of discontinued operations | 1,793.4 | ||
Continuing Cash Flows To Business Held For Sale | 145.3 | 124.6 | 113.5 |
Depreciation, depletion and amortization | 994.7 | 963.8 | 850.2 |
Midstream Business Held For Sale [Member]
|
|||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Depreciation, depletion and amortization | 45.9 | 52.2 | 55.1 |
Payments to Acquire Oil and Gas Property and Equipment | $ 55.2 | $ 88.9 | $ 156.2 |
X | ||||||||||
- Definition
Continuing Cash Flows To Business Held For Sale No definition available.
|
X | ||||||||||
- Definition
Debt Refinanced In Business Sale No definition available.
|
X | ||||||||||
- Definition
Value Of Business Sold No definition available.
|
X | ||||||||||
- Definition
Amount of gain (loss), before tax expense or benefit and not previously recognized, resulting from the sale of a business component. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The cash outflow to purchase long lived physical asset for use in the normal oil and gas operations and to purchase mineral interests in oil and gas properties not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Depreciation, depletion, amortization, and accretion related to oil and gas producing activities. No definition available.
|
X | ||||||||||
- Definition
Net Income From Discontinued Operations Including Portion Attributable To Noncontrolling Interest No definition available.
|
X | ||||||||||
- Definition
Ownership Percentage No definition available.
|
X | ||||||||||
- Definition
Overall income (loss) from a disposal group that is classified as a component of the entity, before income tax, reported as a separate component of income before extraordinary items. Includes the following (before income tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Tax effect allocated to a disposal group that is classified as a component of the entity reported as a separate component of income before extraordinary items. Includes the tax effects of the following: income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate gain on all derivative instruments recognized in earnings during the period, before tax effects. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Cost incurred related to the gas activities, such as transportation, marketing and processing crude oil, natural gas and refined petroleum products. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Revenue related to midstream and downstream gas activities. May include the following: gathering from wells, processing to remove impurities, storage, transmission, and the sale of natural gas and related products. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of profit or loss for the period which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of operating interest income, including, but not limited to, amortization and accretion of premiums and discounts on securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of lease operating expense related to property used in oil and gas production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Midstream refers to those gas industry activities that fall between exploration and production (upstream) and refining and marketing (downstream). It may be applied to the gathering, processing, transmission and storage of natural gas; including the treating of natural gas to remove impurities, along with the sale of by-products such as residue gas, natural gas liquids and condensate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate revenue during the period related to oil and gas business activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
|
X | ||||||||||
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
X | ||||||||||
- Definition
The cash outflow to purchase long lived physical asset for use in the normal oil and gas operations and to purchase mineral interests in oil and gas properties not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
A tax assessed on oil and gas production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Cost incurred related to the downstream oil and gas activities, including refining of crude oil and marketing and distribution of crude oil, refined petroleum products, and natural gas. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Revenue related to the downstream oil and gas activities, including the refining of crude oil, as well as the marketing and distribution of crude oil, refined petroleum products, and natural gas. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Depreciation, depletion, amortization, and accretion related to oil and gas producing activities. No definition available.
|
X | ||||||||||
- Definition
Cost incurred during the reporting period in transporting goods and services to customers. Includes freight-out costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Discontinued Operations Assets And Liabilities Of Discontinued Operations (Details) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
---|---|---|---|---|
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Cash and Cash Equivalents, at Carrying Value | $ 1,160.1 | $ 30.0 | $ 0 | $ 0 |
Accounts receivable, net | 441.9 | 330.3 | ||
Deferred income taxes - current | 0 | 27.9 | ||
Prepaid expenses and other | 46.8 | 45.4 | ||
Current assets of discontinued operations | 0 | 122.0 | ||
Materials and supplies | 54.3 | 54.3 | ||
Property, Plant and Equipment, Gross | 13,452.0 | 12,573.6 | ||
Other noncurrent assets | 44.2 | 46.6 | ||
Production and property taxes | 61.7 | 54.7 | ||
Current liabilities of discontinued operations | 0 | 75.3 | ||
Deferred Tax Liabilities, Net, Noncurrent | 1,362.7 | 1,364.9 | ||
Asset retirement obligations | 193.8 | 163.3 | ||
Other long-term liabilities | 92.1 | 94.5 | ||
Noncurrent liabilities of discontinued operations | 0 | 238.3 | ||
Midstream Business Held For Sale [Member]
|
||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Cash and Cash Equivalents, at Carrying Value | 18.1 | |||
Accounts receivable, net | 53.9 | |||
Income Taxes Receivable, Current | 38.4 | |||
Deferred income taxes - current | 2.7 | |||
Prepaid expenses and other | 8.9 | |||
Current assets of discontinued operations | 122.0 | |||
Midstream Field Services Property | 1,500.8 | |||
Materials and supplies | 4.8 | |||
Property, Plant and Equipment, Gross | 1,505.6 | |||
Accumulated Depreciation Midstream Field Services | (381.6) | |||
Net Property, Plant and Equipment | 1,124.0 | |||
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | 39.0 | |||
Other noncurrent assets | 4.7 | |||
Noncurrent assets of discontinued operations | 1,167.7 | |||
Accounts payable and accrued expenses | 74.1 | |||
Production and property taxes | 1.2 | |||
Current liabilities of discontinued operations | 75.3 | |||
Deferred Tax Liabilities, Net, Noncurrent | 195.7 | |||
Asset retirement obligations | 28.5 | 37.5 | ||
Other long-term liabilities | 14.1 | |||
Noncurrent liabilities of discontinued operations | $ 238.3 |
X | ||||||||||
- Definition
Accumulated depreciation of natural gas gathering systems and treating plants. No definition available.
|
X | ||||||||||
- Definition
Natural gas gathering systems and treating plants. No definition available.
|
X | ||||||||||
- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of obligations incurred and payable for real and property taxes. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Noncurrent portion of the carrying amount of a liability for an asset retirement obligation. An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount classified as assets attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards, net of deferred tax liability attributable to taxable temporary differences expected to be realized or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of deferred tax liability attributable to taxable temporary differences, net of deferred tax asset attributable to deductible temporary differences and carryforwards net of valuation allowances expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount classified as accounts payable and accrued liabilities attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount classified as long lived assets attributable to disposal group held for sale or disposed of, expected to be disposed of after one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount classified as property, plant and equipment attributable to disposal group held for sale or disposed of, expected to be disposed of after one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Carrying amount due within one year of the balance sheet date (or one operating cycle, if longer) from tax authorities as of the balance sheet date representing refunds of overpayments or recoveries based on agreed-upon resolutions of disputes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying amount as of the balance sheet date of inventories of minerals, materials and supplies related to long-term drilling operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount classified as liabilities attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount classified as liabilities attributable to disposal group held for sale or disposed of, expected to be disposed of beyond one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Capitalized Exploratory Well Costs (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Capitalized Exploratory Well Costs [Abstract] | |||
Beginning Balance | $ 2.6 | $ 2.1 | $ 5.0 |
Additions to capitalized exploratory well costs pending the determination of proved reserves | 13.7 | 2.7 | 12.7 |
Reclassifications to proved properties after the determination of proved reserves | 0 | (2.2) | (15.6) |
Capitalized exploratory well costs charged to expense | (3.7) | 0 | 0 |
Ending Balance | $ 12.6 | $ 2.6 | $ 2.1 |
X | ||||||||||
- Definition
Additions to capitalized exploratory well costs that were added during the reporting period pending the determination of proved reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Capitalized exploratory well costs that were expensed during the year because proved reserves were not found at the exploratory well. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of capitalized exploratory well costs that is pending the determination of proved reserves. This does not include amounts that were capitalized and subsequently expensed in the same annual period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Previously capitalized costs of the drilling of wells that were reclassified as part of the costs of the enterprise's wells and related equipment and facilities at the time that proved reserves were found. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Asset Retirement Obligations (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2013
Midstream Business Held For Sale [Member]
|
Dec. 31, 2012
Midstream Business Held For Sale [Member]
|
Dec. 31, 2014
Permian Basin Acquisition [Member]
|
Dec. 31, 2014
Permian Basin Acquisition [Member]
Asset Retirement Obligation Costs [Member]
|
|||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||
Document Period End Date | Dec. 31, 2014 | |||||||||||
Asset retirement obligation, current | $ 1.3 | $ 1.8 | ||||||||||
Asset retirement obligations, noncurrent | 193.8 | 163.3 | 28.5 | 37.5 | ||||||||
Recognized identifiable assets acquired and liabilities assumed, net | 941.8 | (9.7) | ||||||||||
ARO Liability [Roll Forward] | ||||||||||||
ARO liability, Beginning Balance | 165.1 | [1] | 155.6 | [1] | ||||||||
Accretion | 6.7 | 5.6 | ||||||||||
Liabilities incurred | 17.1 | [2] | 6.9 | [2] | ||||||||
Revisions of Estimates | 33.6 | 11.8 | ||||||||||
ARO Liabilities Transferred | (24.7) | (11.8) | ||||||||||
Liabilities settled | (2.7) | (3.0) | ||||||||||
ARO liability, Ending Balance | $ 195.1 | $ 165.1 | [1] | |||||||||
|
X | ||||||||||
- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
|
X | ||||||||||
- Definition
ARO Liabilities Transferred No definition available.
|
X | ||||||||||
- Definition
The carrying amount of a liability for an asset retirement obligation. An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of accretion expense recognized during the period that is associated with an asset retirement obligation. Accretion expense measures and incorporates changes due to the passage of time into the carrying amount of the liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Current portion of the carrying amount of a liability for an asset retirement obligation. An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of asset retirement obligations incurred during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of asset retirement obligations settled, or otherwise disposed of, during the period. This may include asset retirement obligations transferred to third parties associated with the sale of a long-lived asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of the Increase or Decrease in the amount of the asset retirement obligation during the current period for changes in the amount or timing of the estimated cash flows associated with the settlement of the obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Noncurrent portion of the carrying amount of a liability for an asset retirement obligation. An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount recognized as of the acquisition date for the identifiable assets acquired in excess of (less than) the aggregate liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Fair Value Measurements (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Impairment of Oil and Gas Properties | $ 1,143.2 | $ 33.5 | |
Proved properties [Member]
|
|||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Impairment of Oil and Gas Properties | $ 1,041.4 | $ 1.2 | $ 107.6 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The expense recorded to reduce the value of oil and gas assets consisting of proved properties and unproved properties as the estimate of future successful production from these properties is reduced. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Fair Value of Financial Assets and Liabilities (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2014
Fair Value, Measurements, Recurring [Member]
|
Dec. 31, 2013
Fair Value, Measurements, Recurring [Member]
|
Dec. 31, 2014
Fair Value, Measurements, Recurring [Member]
Level 1 [Member]
|
Dec. 31, 2013
Fair Value, Measurements, Recurring [Member]
Level 1 [Member]
|
Dec. 31, 2014
Fair Value, Measurements, Recurring [Member]
Level 2 [Member]
|
Dec. 31, 2013
Fair Value, Measurements, Recurring [Member]
Level 2 [Member]
|
Dec. 31, 2014
Fair Value, Measurements, Recurring [Member]
Level 3 [Member]
|
Dec. 31, 2013
Fair Value, Measurements, Recurring [Member]
Level 3 [Member]
|
Dec. 31, 2014
Fair Value, Measurements, Recurring [Member]
Netting Adjustments [Member]
|
Dec. 31, 2013
Fair Value, Measurements, Recurring [Member]
Netting Adjustments [Member]
|
Dec. 31, 2013
Long term [Member]
Interest Rate Swap [Member]
Fair Value, Measurements, Recurring [Member]
|
Dec. 31, 2013
Long term [Member]
Interest Rate Swap [Member]
Fair Value, Measurements, Recurring [Member]
Level 1 [Member]
|
Dec. 31, 2014
Long term [Member]
Interest Rate Swap [Member]
Fair Value, Measurements, Recurring [Member]
Level 2 [Member]
|
Dec. 31, 2013
Long term [Member]
Interest Rate Swap [Member]
Fair Value, Measurements, Recurring [Member]
Level 2 [Member]
|
Dec. 31, 2013
Long term [Member]
Interest Rate Swap [Member]
Fair Value, Measurements, Recurring [Member]
Level 3 [Member]
|
Dec. 31, 2013
Long term [Member]
Interest Rate Swap [Member]
Fair Value, Measurements, Recurring [Member]
Netting Adjustments [Member]
|
Dec. 31, 2014
Long term [Member]
Commodity Contract [Member]
Fair Value, Measurements, Recurring [Member]
|
Dec. 31, 2013
Long term [Member]
Commodity Contract [Member]
Fair Value, Measurements, Recurring [Member]
|
Dec. 31, 2014
Long term [Member]
Commodity Contract [Member]
Fair Value, Measurements, Recurring [Member]
Level 1 [Member]
|
Dec. 31, 2013
Long term [Member]
Commodity Contract [Member]
Fair Value, Measurements, Recurring [Member]
Level 1 [Member]
|
Dec. 31, 2014
Long term [Member]
Commodity Contract [Member]
Fair Value, Measurements, Recurring [Member]
Level 2 [Member]
|
Dec. 31, 2013
Long term [Member]
Commodity Contract [Member]
Fair Value, Measurements, Recurring [Member]
Level 2 [Member]
|
Dec. 31, 2014
Long term [Member]
Commodity Contract [Member]
Fair Value, Measurements, Recurring [Member]
Level 3 [Member]
|
Dec. 31, 2013
Long term [Member]
Commodity Contract [Member]
Fair Value, Measurements, Recurring [Member]
Level 3 [Member]
|
Dec. 31, 2014
Long term [Member]
Commodity Contract [Member]
Fair Value, Measurements, Recurring [Member]
Netting Adjustments [Member]
|
Dec. 31, 2013
Long term [Member]
Commodity Contract [Member]
Fair Value, Measurements, Recurring [Member]
Netting Adjustments [Member]
|
Dec. 31, 2013
Short term [Member]
Fair Value, Measurements, Recurring [Member]
Level 1 [Member]
|
Dec. 31, 2013
Short term [Member]
Fair Value, Measurements, Recurring [Member]
Level 3 [Member]
|
Dec. 31, 2013
Short term [Member]
Fair Value, Measurements, Recurring [Member]
Netting Adjustments [Member]
|
Dec. 31, 2013
Short term [Member]
Interest Rate Swap [Member]
Fair Value, Measurements, Recurring [Member]
|
Dec. 31, 2014
Short term [Member]
Interest Rate Swap [Member]
Fair Value, Measurements, Recurring [Member]
Level 2 [Member]
|
Dec. 31, 2013
Short term [Member]
Interest Rate Swap [Member]
Fair Value, Measurements, Recurring [Member]
Level 2 [Member]
|
Dec. 31, 2014
Short term [Member]
Commodity Contract [Member]
Fair Value, Measurements, Recurring [Member]
|
Dec. 31, 2013
Short term [Member]
Commodity Contract [Member]
Fair Value, Measurements, Recurring [Member]
|
Dec. 31, 2014
Short term [Member]
Commodity Contract [Member]
Fair Value, Measurements, Recurring [Member]
Level 1 [Member]
|
Dec. 31, 2013
Short term [Member]
Commodity Contract [Member]
Fair Value, Measurements, Recurring [Member]
Level 1 [Member]
|
Dec. 31, 2014
Short term [Member]
Commodity Contract [Member]
Fair Value, Measurements, Recurring [Member]
Level 2 [Member]
|
Dec. 31, 2013
Short term [Member]
Commodity Contract [Member]
Fair Value, Measurements, Recurring [Member]
Level 2 [Member]
|
Dec. 31, 2014
Short term [Member]
Commodity Contract [Member]
Fair Value, Measurements, Recurring [Member]
Level 3 [Member]
|
Dec. 31, 2013
Short term [Member]
Commodity Contract [Member]
Fair Value, Measurements, Recurring [Member]
Level 3 [Member]
|
Dec. 31, 2014
Short term [Member]
Commodity Contract [Member]
Fair Value, Measurements, Recurring [Member]
Netting Adjustments [Member]
|
Dec. 31, 2013
Short term [Member]
Commodity Contract [Member]
Fair Value, Measurements, Recurring [Member]
Netting Adjustments [Member]
|
|
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Document Period End Date | Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||
Financial Assets | |||||||||||||||||||||||||||||||||||||||||||
Derivative instruments | $ 0 | $ 0 | $ 349.2 | $ 6.5 | $ 0 | $ 0 | $ (0.3) | $ (5.3) | $ 0 | $ 0 | $ 0.6 | $ 0 | $ 0 | $ 0 | $ 0 | $ 9.9 | $ 0.4 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 339.3 | $ 5.5 | $ 0 | $ 0 | $ (0.3) | $ (5.3) | ||||||||||||
Derivative Assets | 348.9 | 1.2 | 0.6 | 9.9 | 0.4 | 339.0 | 0.2 | ||||||||||||||||||||||||||||||||||||
Financial liabilities | |||||||||||||||||||||||||||||||||||||||||||
Derivative instruments | 0 | 0 | 0.3 | 32.0 | 0 | 0 | (0.3) | (5.3) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.6 | 0 | 0 | 0.3 | 29.4 | 0 | 0 | (0.3) | (5.3) | ||||||||||||||||||
Derivative Liabilities | $ 0 | $ 26.7 | $ 2.6 | $ 0 | $ 24.1 |
X | ||||||||||
- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Fair value, before effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets elected not to be offset. Excludes assets not subject to a master netting arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value, after effects of master netting arrangements, of financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset offset against an obligation to return collateral. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value, before effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities elected not to be offset. Excludes liabilities not subject to a master netting arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value, after effects of master netting arrangements, of financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset offset against the right to receive collateral. Includes liabilities not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Fair Value Measurements Fair Value and Related Carrying Amount of Certain Financial Instruments (Details) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
---|---|---|---|---|
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | $ 1,160.1 | $ 11.9 | ||
Cash and cash equivalents | 1,160.1 | 30.0 | 0 | 0 |
Checks outstanding in excess of cash balances | 54.7 | 109.1 | ||
Long-term Debt, Excluding Current Maturities | 2,218.1 | 2,997.5 | ||
Estimate of Fair Value Measurement [Member]
|
||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 1,160.1 | 11.9 | ||
Checks outstanding in excess of cash balances | 54.7 | 109.1 | ||
Long-term debt | 2,171.6 | 3,034.9 | ||
Reported Value Measurement [Member]
|
||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 1,160.1 | 11.9 | ||
Checks outstanding in excess of cash balances | 54.7 | 109.1 | ||
Long-term Debt, Excluding Current Maturities | $ 2,218.1 | $ 2,997.5 |
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of payments made in excess of existing cash balances, which will be honored by the bank but reflected as a loan to the entity. Overdrafts generally have a very short time frame for correction or repayment and are therefore more similar to short-term bank financing than trade financing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. No definition available.
|
X | ||||||||||
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Derivative Contracts (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||||
---|---|---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2014
Term Loan due 2017 [Member]
|
Dec. 31, 2013
Term Loan due 2017 [Member]
|
Dec. 31, 2014
First Term Loan Tranche [Member]
Interest Rate Swap [Member]
|
Dec. 31, 2014
Second Term Loan Tranche [Member]
Interest Rate Swap [Member]
|
|
Derivatives, Fair Value [Line Items] | |||||
Forecasted production from proved reserves (in hundredths) | 100.00% | ||||
Total principal amount of debt | $ 600.0 | ||||
Notional amount of interest rate derivatives | $ 300.0 | $ 300.0 | |||
Fixed Rate Paid (in hundredths) | 1.07% | 0.86% | |||
Effective interest Rate Before Impact of Derivatives | 3.24% |
X | ||||||||||
- Definition
Effective interest Rate Before Impact of Derivatives No definition available.
|
X | ||||||||||
- Definition
Potential maximum amount of forecasted production covered by derivative contracts. No definition available.
|
X | ||||||||||
- Definition
Fixed interest rate related to the interest rate derivative. No definition available.
|
X | ||||||||||
- Definition
Nominal or face amount used to calculate payments on the derivative liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Derivative Contracts Schedule of Commodity Derivative Contracts (Details) (USD $)
|
12 Months Ended |
---|---|
Dec. 31, 2014
MMBTU
|
|
Natural Gas Sales [Member] | QEP Energy [Member] | Year 2014 [Member] | NYMEX [Member]
|
|
Derivative [Line Items] | |
Derivative Contract Year | 2015 |
Derivative, Underlying Basis | IFNPCR |
Derivative, Nonmonetary Notional Amount | 40,200,000 |
Underlying, Derivative Asset | 3.70 |
Natural Gas Sales [Member] | QEP Energy [Member] | Year 2014 [Member] | IFNPCR [Member]
|
|
Derivative [Line Items] | |
Derivative Contract Year | 2015 |
Derivative, Underlying Basis | NYMEX HH |
Derivative, Nonmonetary Notional Amount | 29,200,000 |
Underlying, Derivative Asset | 4.11 |
Natural Gas Sales [Member] | QEP Marketing [Member] | Year 2015 [Member] | IFNPCR [Member]
|
|
Derivative [Line Items] | |
Derivative Contract Year | 2015 |
Derivative, Underlying Basis | IFNPCR |
Derivative, Nonmonetary Notional Amount | 2,800,000 |
Underlying, Derivative Asset | 4.03 |
Natural Gas Sales [Member] | QEP Marketing [Member] | Year2016 [Member] | IFNPCR [Member]
|
|
Derivative [Line Items] | |
Derivative Contract Year | 2016 |
Derivative, Underlying Basis | IFNPCR |
Derivative, Nonmonetary Notional Amount | 900,000 |
Underlying, Derivative Asset | 3.58 |
Purchased Gas and Oil Expense [Member] | QEP Marketing [Member] | Year 2014 [Member] | IFNPCR [Member]
|
|
Derivative [Line Items] | |
Derivative Contract Year | 2015 |
Derivative, Underlying Basis | IFNPCR |
Derivative, Nonmonetary Notional Amount | 900,000 |
Underlying, Derivative Asset | 3.06 |
Crude Oil Sales Costless Collars [Member] | QEP Energy [Member] | Year 2015 [Member] | NYMEX WTI [Member]
|
|
Derivative [Line Items] | |
Derivative Contract Year | 2015 |
Derivative, Underlying Basis | NYMEX WTI |
Derivative, Nonmonetary Notional Amount | 500,000 |
Derivative Average Price Floor | $ 50.00 |
Derivative Average Price Ceiling | $ 63.34 |
Oil Basis Swaps [Member] | QEP Energy [Member] | Year 2015 [Member] | NYMEX WTI less LLS Differential [Member]
|
|
Derivative [Line Items] | |
Derivative Contract Year | 2015 |
Derivative, Underlying Basis | LLS |
Derivative, Nonmonetary Notional Amount | 100,000 |
Underlying, Derivative Asset | 4.03 |
Oil Sales [Member] | QEP Energy [Member] | Year 2014 [Member] | NYMEX WTI [Member]
|
|
Derivative [Line Items] | |
Derivative Contract Year | 2015 |
Derivative, Underlying Basis | NYMEX WTI |
Derivative, Nonmonetary Notional Amount | 7,700,000 |
Underlying, Derivative Asset | 90.04 |
Oil Sales [Member] | QEP Energy [Member] | Year 2015 [Member] | BRENT ICE [Member]
|
|
Derivative [Line Items] | |
Derivative Contract Year | 2015 |
Derivative, Underlying Basis | ICE Brent |
Derivative, Nonmonetary Notional Amount | 400,000 |
Underlying, Derivative Asset | 104.95 |
Oil Sales [Member] | QEP Energy [Member] | Year2016 [Member] | NYMEX WTI [Member]
|
|
Derivative [Line Items] | |
Derivative Contract Year | 2016 |
Derivative, Underlying Basis | NYMEX WTI |
Derivative, Nonmonetary Notional Amount | 400,000 |
Underlying, Derivative Asset | 90.00 |
X | ||||||||||
- Definition
Aggregate notional amount of derivative expressed in nonmonetary units. For example, the number of barrels specified in a fuel oil forward purchase contract. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Derivative Average Price Ceiling No definition available.
|
X | ||||||||||
- Definition
Derivative Average Price Floor No definition available.
|
X | ||||||||||
- Definition
The contract year for the derivative contract. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Reference to the index or unit of measurement for the underlying which establishes the pricing terms of the derivative instrument. For example, the basis on the underlying for a natural gas futures contract might be the NYMEX price per million British thermal units (MMBtu). No definition available.
|
X | ||||||||||
- Definition
Specified interest rate, security price, commodity price, foreign exchange rate, index of prices or rates for a derivative asset contract but not the derivative contract itself. No definition available.
|
Derivative Contracts Schedule of Derivatives Financial Statement Presentation (Details) (Fair Value, Inputs, Level 2 [Member], Fair Value, Measurements, Recurring [Member], USD $)
In Millions, unless otherwise specified |
Dec. 31, 2014
|
Dec. 31, 2013
|
---|---|---|
Derivative [Line Items] | ||
Derivative instruments - assets | $ 349.2 | $ 6.5 |
Derivative instruments - liabilities | 0.3 | 32.0 |
Interest Rate Swap [Member] | Short term [Member]
|
||
Derivative [Line Items] | ||
Derivative instruments - assets | 0 | 0 |
Derivative instruments - liabilities | 0 | 2.6 |
Interest Rate Swap [Member] | Long term [Member]
|
||
Derivative [Line Items] | ||
Derivative instruments - assets | 0 | 0.6 |
Derivative instruments - liabilities | 0 | 0 |
Commodity Contract [Member] | Short term [Member]
|
||
Derivative [Line Items] | ||
Derivative instruments - assets | 339.3 | 5.5 |
Derivative instruments - liabilities | 0.3 | 29.4 |
Commodity Contract [Member] | Long term [Member]
|
||
Derivative [Line Items] | ||
Derivative instruments - assets | 9.9 | 0.4 |
Derivative instruments - liabilities | $ 0 | $ 0 |
X | ||||||||||
- Definition
Fair value, before effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets elected not to be offset. Excludes assets not subject to a master netting arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value, before effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities elected not to be offset. Excludes liabilities not subject to a master netting arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Derivative Contracts Gain (Loss) in Statement of Financial Performance (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Derivative Instruments, Gain (Loss) [Line Items] | |||
Realized gain (loss) derivative contracts not designated as hedging instruments | $ (11.1) | $ 147.6 | $ 370.3 |
Unrealized gain (loss) derivative contracts not designated as hedging instruments | 374.4 | (88.7) | 63.2 |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 363.3 | 58.9 | 433.5 |
Realized and unrealized gains on commodity derivative instruments [Member]
|
|||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Realized gain (loss) on commodity derivative contracts not designated as hedging instruments | (3.5) | 150.3 | 371.6 |
Unrealized gain (loss) on commodity derivative contracts not designated as hedging instruments | 372.4 | (92.8) | 69.3 |
Realized and Unrealized Gain (Loss) on Commodity Derivative Contracts Not Designated as Hedging Instruments | 368.9 | 57.5 | 440.9 |
Natural gas derivative contracts [Member] | Realized and unrealized gains on commodity derivative instruments [Member] | QEP Energy [Member]
|
|||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Realized gain (loss) on commodity derivative contracts not designated as hedging instruments | (16.7) | 152.0 | 341.9 |
Unrealized gain (loss) on commodity derivative contracts not designated as hedging instruments | 68.4 | (42.6) | 37.8 |
Natural gas derivative contracts [Member] | Realized and unrealized gains on commodity derivative instruments [Member] | QEP Marketing [Member]
|
|||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Realized gain (loss) on commodity derivative contracts not designated as hedging instruments | (2.5) | 0.5 | 5.1 |
Unrealized gain (loss) on commodity derivative contracts not designated as hedging instruments | 4.2 | (2.1) | 0.9 |
NGL derivative contracts [Member] | Realized and unrealized gains on commodity derivative instruments [Member] | QEP Energy [Member]
|
|||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Realized gain (loss) on commodity derivative contracts not designated as hedging instruments | 0 | 0 | 10.2 |
Unrealized gain (loss) derivative contracts not designated as hedging instruments | 0 | 0 | 1.6 |
Oil derivative contracts [Member] | Realized and unrealized gains on commodity derivative instruments [Member] | QEP Energy [Member]
|
|||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Realized gain (loss) on commodity derivative contracts not designated as hedging instruments | 15.7 | (2.2) | 14.4 |
Unrealized gain (loss) on commodity derivative contracts not designated as hedging instruments | 299.8 | (48.1) | 29.0 |
Interest Rate Swap [Member] | Realized And Unrealized Gains Losses On Interest Rate Swaps [Member]
|
|||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Realized gain (loss) on commodity derivative contracts not designated as hedging instruments | (7.6) | (2.7) | (1.3) |
Unrealized gain (loss) on commodity derivative contracts not designated as hedging instruments | 2.0 | 4.1 | (6.1) |
Realized and Unrealized Gain (Loss) on Commodity Derivative Contracts Not Designated as Hedging Instruments | $ (5.6) | $ 1.4 | $ (7.4) |
X | ||||||||||
- Definition
Total Realized and Unrealized Gain (Loss) on Commodity Derivative Contracts Not Designated as Hedging Instruments No definition available.
|
X | ||||||||||
- Definition
Realized gain (loss) derivative contracts not designated as hedging instruments No definition available.
|
X | ||||||||||
- Definition
Represents the realized gain (loss) on commodity derivative contracts not designated as hedging instruments for the period. No definition available.
|
X | ||||||||||
- Definition
Unrealized gain (loss) derivative contracts not designated as hedging instruments No definition available.
|
X | ||||||||||
- Definition
Represents the unrealized gain (loss) on commodity derivative contracts not designated as hedging instruments for the period. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of realized and unrealized gain (loss) of derivative instruments not designated or qualifying as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Restructuring Costs (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended |
---|---|
Dec. 31, 2014
|
|
Restructuring and Related Activities [Abstract] | |
Retention Bonuses Related To Discontinued Operations | $ 10.4 |
Estimated restructuring costs | $ 7.9 |
X | ||||||||||
- Definition
Retention Bonuses Related To Discontinued Operations No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount expected to be recognized in earnings for the specified restructuring cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Restructuring Costs Schedule of Restructuring Costs by Line of Business (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Restructuring Cost and Reserve [Line Items] | |||
Estimated restructuring costs | $ 7.9 | ||
Restructuring costs incurred to date | 7.9 | ||
Restructuring Charges | 0 | 0.9 | 7.0 |
One-time Termination Benefits [Member]
|
|||
Restructuring Cost and Reserve [Line Items] | |||
Estimated restructuring costs | 3.6 | ||
Restructuring costs incurred to date | 3.6 | ||
Restructuring Charges | 0 | 0.5 | 3.1 |
Employee Relocation [Member]
|
|||
Restructuring Cost and Reserve [Line Items] | |||
Estimated restructuring costs | 3.7 | ||
Restructuring costs incurred to date | 3.7 | ||
Restructuring Charges | 0 | 0.4 | 3.3 |
Facility Closing [Member]
|
|||
Restructuring Cost and Reserve [Line Items] | |||
Estimated restructuring costs | 0.6 | ||
Restructuring costs incurred to date | 0.6 | ||
Restructuring Charges | 0 | 0 | 0.6 |
QEP Energy [Member]
|
|||
Restructuring Cost and Reserve [Line Items] | |||
Estimated restructuring costs | 7.6 | ||
Restructuring costs incurred to date | 7.6 | ||
Restructuring Charges | 0 | 0.8 | 6.8 |
QEP Energy [Member] | One-time Termination Benefits [Member]
|
|||
Restructuring Cost and Reserve [Line Items] | |||
Estimated restructuring costs | 3.3 | ||
Restructuring costs incurred to date | 3.3 | ||
Restructuring Charges | 0 | 0.4 | 2.9 |
QEP Energy [Member] | Employee Relocation [Member]
|
|||
Restructuring Cost and Reserve [Line Items] | |||
Estimated restructuring costs | 3.7 | ||
Restructuring costs incurred to date | 3.7 | ||
Restructuring Charges | 0 | 0.4 | 3.3 |
QEP Energy [Member] | Facility Closing [Member]
|
|||
Restructuring Cost and Reserve [Line Items] | |||
Estimated restructuring costs | 0.6 | ||
Restructuring costs incurred to date | 0.6 | ||
Restructuring Charges | 0 | 0 | 0.6 |
QEP Marketing [Member]
|
|||
Restructuring Cost and Reserve [Line Items] | |||
Estimated restructuring costs | 0.3 | ||
Restructuring costs incurred to date | 0.3 | ||
Restructuring Charges | 0 | 0.1 | 0.2 |
QEP Marketing [Member] | One-time Termination Benefits [Member]
|
|||
Restructuring Cost and Reserve [Line Items] | |||
Estimated restructuring costs | 0.3 | ||
Restructuring costs incurred to date | 0.3 | ||
Restructuring Charges | $ 0 | $ 0.1 | $ 0.2 |
X | ||||||||||
- Definition
Amount of costs incurred to date for the specified restructuring cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount expected to be recognized in earnings for the specified restructuring cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Debt (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | |
---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
|
Debt Instrument [Line Items] | ||
Total principal amount of debt | $ 2,221.8 | $ 3,001.8 |
Debt Maturity Period | 5 years | |
Senior Notes | 2,221.8 | |
Debt Instrument, Maturity Date Range, Start | Sep. 01, 2016 | |
Debt Instrument, Maturity Date Range, End | May 01, 2023 | |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 5.25% | |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 6.875% | |
Line of Credit [Member]
|
||
Debt Instrument [Line Items] | ||
Total principal amount of debt | 0 | 480.0 |
Long-term Debt, Weighted Average Interest Rate | 2.23% | 2.22% |
Long-term Line of Credit | 1,800.0 | |
Letters of Credit Outstanding, Amount | 3.7 | 3.8 |
Long-term Line of Credit | 480.0 | |
Term Loan due 2017 [Member]
|
||
Debt Instrument [Line Items] | ||
Total principal amount of debt | 0 | 300.0 |
Long-term Debt, Weighted Average Interest Rate | 2.28% | 2.22% |
Long-term Line of Credit | 600.0 | |
Senior Notes Due 2016 [Member]
|
||
Debt Instrument [Line Items] | ||
Total principal amount of debt | 176.8 | 176.8 |
Debt Instrument, Maturity Date | Sep. 01, 2016 | |
Debt Instrument, Interest Rate, Stated Percentage | 6.05% | |
Senior Notes Due 2018 [Member]
|
||
Debt Instrument [Line Items] | ||
Total principal amount of debt | $ 134.0 | $ 134.0 |
Debt Instrument, Maturity Date | Apr. 01, 2018 | |
Debt Instrument, Interest Rate, Stated Percentage | 6.80% |
X | ||||||||||
- Definition
Debt Maturity Period No definition available.
|
X | ||||||||||
- Definition
Amount of long-term debt before deduction of unamortized discount or premium. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, with initial maturities beyond one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Maximum contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Minimum contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Latest date the outstanding debt instruments are required to be repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Earliest date the outstanding debt instruments are required to be repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total amount of the contingent obligation under letters of credit outstanding as of the reporting date. No definition available.
|
X | ||||||||||
- Definition
The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average interest rate of long-term debt outstanding. No definition available.
|
X | ||||||||||
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer). Senior note holders are paid off in full before any payments are made to junior note holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Debt Schedule of Debt Instruments (Details) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2014
|
Dec. 31, 2013
|
---|---|---|
Debt Instrument [Line Items] | ||
Total principal amount of debt | $ 2,221.8 | $ 3,001.8 |
Less unamortized discount | (3.7) | (4.3) |
Total long-term debt outstanding | 2,218.1 | 2,997.5 |
Revolving Credit Facility due 2016 [Member]
|
||
Debt Disclosure [Abstract] | ||
Long-term Debt, Weighted Average Interest Rate | 2.23% | 2.22% |
Debt Instrument [Line Items] | ||
Total principal amount of debt | 0 | 480.0 |
Term Loan due 2017 [Member]
|
||
Debt Disclosure [Abstract] | ||
Long-term Debt, Weighted Average Interest Rate | 2.28% | 2.22% |
Debt Instrument [Line Items] | ||
Total principal amount of debt | 0 | 300.0 |
6.05% Senior Notes due 2016 [Member]
|
||
Debt Instrument [Line Items] | ||
Total principal amount of debt | 176.8 | 176.8 |
6.80% Senior Notes due 2018 [Member]
|
||
Debt Instrument [Line Items] | ||
Total principal amount of debt | 134.0 | 134.0 |
6.80% Senior Notes due 2020 [Member]
|
||
Debt Instrument [Line Items] | ||
Total principal amount of debt | 136.0 | 136.0 |
6.875% Senior Notes due 2021 [Member]
|
||
Debt Instrument [Line Items] | ||
Total principal amount of debt | 625.0 | 625.0 |
5.375% Senior Notes due 2022 [Member]
|
||
Debt Instrument [Line Items] | ||
Total principal amount of debt | 500.0 | 500.0 |
5.25% Senior Notes Due 2023 [Member]
|
||
Debt Instrument [Line Items] | ||
Total principal amount of debt | $ 650.0 | $ 650.0 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of long-term debt before deduction of unamortized discount or premium. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, with initial maturities beyond one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average interest rate of long-term debt outstanding. No definition available.
|
Environmental (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended |
---|---|
Dec. 31, 2013
|
|
Environmental Exit Cost [Line Items] | |
Accrual for Environmental Loss Contingencies, Payments | $ 0.2 |
X | ||||||||||
- Definition
The aggregate amount disbursed during the reporting period to settle environmental loss contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Commitments and Contingencies Litigation (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended |
---|---|
Dec. 31, 2014
|
|
Commitments and Contingencies Disclosure [Abstract] | |
Loss Contingency, Settlement Agreement, Consideration | $ 16.7 |
Loss Contingency, Range of Possible Loss, Minimum | 0 |
Loss Contingency, Range of Possible Loss, Maximum | $ 20.0 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of judgment or settlement awarded to (against) the entity in respect of litigation. No definition available.
|
X | ||||||||||
- Definition
The estimated maximum amount of possible loss from the contingency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The estimated minimum amount of possible loss from the contingency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Commitments and Contingencies Other Commitments (Details) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2014
|
---|---|
Long-term Purchase Commitment [Line Items] | |
Unrecorded Unconditional Purchase Obligation, Due in Next Twelve Months | $ 130.7 |
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 120.6 |
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 120.0 |
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 117.1 |
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 112.0 |
Unrecorded Unconditional Purchase Obligation, Due after Five Years | $ 407.4 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of the fixed and determinable portion of the unrecorded unconditional purchase obligation maturing in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of the fixed and determinable portion of the unrecorded unconditional purchase obligation maturing in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of the fixed and determinable portion of the unrecorded unconditional purchase obligation maturing in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of the fixed and determinable portion of the unrecorded unconditional purchase obligation maturing in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of the fixed and determinable portion of the unrecorded unconditional purchase obligation maturing in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of the fixed and determinable portion of the unrecorded unconditional purchase obligation maturing after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Commitments and Contingencies Long-term Operating lease commitments (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Operating lease commitments [Abstract] | |||
Operating Leases, Rent Expense | $ 8.2 | $ 7.8 | $ 7.3 |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 8.4 | ||
Operating Leases, Future Minimum Payments, Due in Two Years | 8.2 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 8.4 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 6.9 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 6.8 | ||
Operating Leases, Future Minimum Payments, Due Thereafter | $ 23.9 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of rent expense incurred for leased assets, including but not limited to, furniture and equipment, that is not directly or indirectly associated with the manufacture, sale or creation of a product or product line. No definition available.
|
X | ||||||||||
- Definition
Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Equity-Based Compensation (Narrative) (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Curtailment loss | $ 0 | ||
Shares available for future grants | 10.8 | ||
Equity-based compensation | 27.2 | 27.1 | 25.6 |
Weighted average grant date fair value | $ 10.11 | $ 15.16 | $ 14.29 |
Employee Stock Option [Member]
|
|||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Intrinsic value of options exercised | 0.6 | 4.3 | 9.6 |
Tax benefit from equity-based compensation expense | 1.4 | 4.6 | |
Adjustment to Additional Paid In Capital resulting from income tax effect of equity-based compensation | 6.5 | ||
Unrecognized compensation costs | 2.0 | ||
Weighted average period for recognition of equity-based compensation expense | 1 year 10 months 13 days | ||
Cash received in relation to stock options | 1.5 | ||
Restricted Stock [Member]
|
|||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Adjustment to Additional Paid In Capital resulting from income tax effect of equity-based compensation | 0.3 | ||
Unrecognized compensation costs | 18.3 | ||
Weighted average period for recognition of equity-based compensation expense | 2 years 1 month 7 days | ||
Award vesting period | 3 years | ||
Total fair value of stock that vested during the period | 26.8 | 19.8 | 16.7 |
Income tax expense (benefit) related to restricted stock compensation | 0.5 | 0.1 | 0.3 |
Weighted average grant date fair value | $ 31.40 | $ 30.06 | $ 30.54 |
Performance Share Units [Member]
|
|||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unrecognized compensation costs | 2.3 | ||
Weighted average period for recognition of equity-based compensation expense | 1 year 10 months 24 days | ||
Weighted average grant date fair value | $ 31.57 | $ 30.12 | $ 30.75 |
Continuing Operations [Member]
|
|||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Equity-based compensation | 21.4 | 25.7 | 25.6 |
Discontinued Operations [Member]
|
|||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Equity-based compensation | $ 5.8 | $ 1.4 |
X | ||||||||||
- Definition
Employee Service Share-Based Compensation Tax Expense No definition available.
|
X | ||||||||||
- Definition
Amount of increase (decrease) in additional paid in capital (APIC) resulting from a tax benefit (deficiency) associated with an share-based compensation plan other than an employee stock ownership plan (ESOP). No definition available.
|
X | ||||||||||
- Definition
The amount of net gain (loss) recognized in net periodic benefit cost as a result of an event that significantly reduces the expected years of future service of present employees or eliminates for a significant number of employees the accrual of defined benefits for some or all of their future services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate proceeds received by the entity during the annual period from exercises of stock or unit options and conversion of similar instruments granted under equity-based payment arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Unrecognized cost of unvested share-based compensation awards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total recognized tax benefit related to compensation cost for equity-based payment arrangements recognized in income during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair value of share-based awards for which the grantee gained the right by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of accumulated difference between fair value of underlying shares on dates of exercise and exercise price on options exercised (or share units converted) into shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Equity-Based Compensation Fair Value of Options Granted and Major Assumptions Used (Details) (USD $)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted average grant date fair value | $ 10.11 | $ 15.16 | $ 14.29 |
Weighted average risk-free interest rate | 1.31% | 1.00% | 0.80% |
Weighted average expected price volatility | 37.10% | 58.30% | 55.90% |
Expected dividend yield | 0.25% | 0.27% | 0.26% |
Expected term in years at the date of grant | 4 years 6 months | 5 years 6 months | 5 years |
Employee Stock Option [Member]
|
|||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk free interest rate, minimum | 1.31% | 0.97% | 0.63% |
Risk free interest rate, maximum | 1.34% | 1.84% | 1.04% |
Expected price volatility range, minimum | 36.10% | 51.50% | 55.90% |
Expected price volatility range, maximum | 37.30% | 58.50% | 56.50% |
Restricted Stock [Member]
|
|||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted average grant date fair value | $ 31.40 | $ 30.06 | $ 30.54 |
Performance Share Units [Member]
|
|||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted average grant date fair value | $ 31.57 | $ 30.12 | $ 30.75 |
X | ||||||||||
- Definition
The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Expected term of share-based compensation awards, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The estimated measure of the maximum percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. No definition available.
|
X | ||||||||||
- Definition
The estimated measure of the minimum percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. No definition available.
|
X | ||||||||||
- Definition
The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The maximum risk-free interest rate assumption that is used in valuing an option on its own shares. No definition available.
|
X | ||||||||||
- Definition
The minimum risk-free interest rate assumption that is used in valuing an option on its own shares. No definition available.
|
X | ||||||||||
- Definition
Weighted average expected volatility rate of share-based compensation awards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Equity-Based Compensation Schedule of Stock Option Transactions (Details) (USD $)
In Millions, except Share data, unless otherwise specified |
12 Months Ended |
---|---|
Dec. 31, 2014
|
|
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |
Stock options outstanding, beginning of year | 1,794,187 |
Options granted | 282,236 |
Options exercised | (65,366) |
Options forfeited | (14,842) |
Stock options outstanding, end of year | 1,996,215 |
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract] | |
Weighted average exercise price, beginning of year | $ 27.90 |
Weighted average exercise price, granted in period | $ 31.67 |
Weighted average exercise price, exercised in period | $ 22.24 |
Weighted average exercise price, forfeited in period | $ 30.53 |
Weighted average exercise price, end of year | $ 28.60 |
Options exercisable, shares | 1,494,061 |
Options exercisable, weighted average exercise price | $ 27.80 |
Unvested options, shares | 502,154 |
Unvested options, weighted average exercise price | $ 30.98 |
Weighted average remaining contractual term, options outstanding | 3 years 2 months 4 days |
Weighted average remaining contractual term, options exercisable | 2 years 4 months 22 days |
Weighted average remaining contractual term, options unvested | 5 years 6 months 2 days |
Aggregate intrinsic value, options outstanding | $ 0.1 |
Aggregate intrinsic value, options exercisable | 0.1 |
Aggregate intrinsic value, options unvested | $ 0 |
X | ||||||||||
- Definition
The total dollar difference between fair values of the underlying shares reserved for issuance and exercise prices of unvested portions of options outstanding and currently exercisable under the option plan as of the balance sheet date. No definition available.
|
X | ||||||||||
- Definition
The weighted average period between the balance sheet date and expiration for all unvested portions of options outstanding under the plan, which may be expressed in a decimal value for number of years. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average remaining contractual term for vested portions of options outstanding and currently exercisable or convertible, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Gross number of share options (or share units) granted during the period. No definition available.
|
X | ||||||||||
- Definition
Number of non-vested options outstanding. No definition available.
|
X | ||||||||||
- Definition
Weighted average grant-date fair value of non-vested options outstanding. No definition available.
|
X | ||||||||||
- Definition
Amount by which the current fair value of the underlying stock exceeds the exercise price of options outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of options outstanding, including both vested and non-vested options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average price at which option holders acquired shares when converting their stock options into shares. No definition available.
|
X | ||||||||||
- Definition
Weighted average price at which grantees could have acquired the underlying shares with respect to stock options that were terminated. No definition available.
|
X | ||||||||||
- Definition
Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options. No definition available.
|
X | ||||||||||
- Definition
Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Equity-Based Compensation Schedule of Restricted Stock Transactions (Details) (Restricted Stock [Member], USD $)
|
12 Months Ended |
---|---|
Dec. 31, 2014
|
|
Restricted Stock [Member]
|
|
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Unvested balance at beginning of period | 1,388,953 |
Shares granted | 1,033,023 |
Shares vested | (855,720) |
Shares forfeited | (139,803) |
Unvested balance at end of period | 1,426,453 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | |
Weighted average grant date fair value, beginning of period | $ 30.96 |
Weighted average grant date fair value, grants | $ 31.40 |
Weighted average grant date fair value, vested | $ 31.39 |
Weighted average grant date fair value, forfeited | $ 31.00 |
Weighted average grant date fair value, end of period | $ 31.02 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Equity-Based Compensation Schedule of Performance Share Unit Transactions (Details) (Performance Share Units [Member], USD $)
|
12 Months Ended |
---|---|
Dec. 31, 2014
|
|
Performance Share Units [Member]
|
|
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Unvested balance at beginning of period | 480,660 |
Shares granted | 256,101 |
Shares vested and paid out | (73,956) |
Shares vested and canceled | (83,545) |
Shares forfeited | (27,051) |
Unvested balance at end of period | 552,209 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | |
Weighted average grant date fair value, beginning of period | $ 32.33 |
Weighted average grant date fair value, grants | $ 31.57 |
Weighted average grant date fair value, vested and paid out | $ 37.17 |
Weighted average grant date fair value, vested and canceled | $ 35.84 |
Weighted average grant date fair value, forfeited | $ 30.60 |
Weighted average grant date fair value, end of period | $ 30.85 |
X | ||||||||||
- Definition
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments other than Options, Canceled in the Period No definition available.
|
X | ||||||||||
- Definition
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments other than Options, Canceled in the Period, Weighted Average Grant Date Fair Value No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Employee Benefits (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Curtailment loss | $ 0 | ||
Special termination benefits | 0 | ||
Defined Benefit Plan, Accumulated Benefit Obligation | 121.8 | 101.0 | |
Defined Contribution Plan, Cost Recognized | 7.6 | 6.9 | 6.4 |
Active Employees [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Number of Employees Covered | 62 | ||
Non-active Employees [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Number of Employees Covered | 152 | ||
Employee Investment Plan [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 100.00% | ||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 8.00% | ||
Defined Contribution Plan Employer Discretionary Contribution Percent | 2.00% | ||
Closed Retirement Plan [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 100.00% | ||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 6.00% | ||
Funded Pension Plan [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Pension Contributions | 8.1 | ||
Defined Benefit Plans, Estimated Future Employer Contributions in Current Fiscal Year | 4.0 | ||
Funded Pension Plan [Member] | Active Employees [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan Percentage Of Employees Covered | 8.00% | ||
Unfunded Pension Plan [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Pension Contributions | 4.9 | ||
Defined Benefit Plans, Estimated Future Employer Contributions in Current Fiscal Year | 4.4 | ||
Other Postretirement Benefit Plan [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Postretirement Health Care Benefits, Number of Eligible | 39 | ||
Postretirement Health Care Benefits, Number of Employees Covered | 36 | ||
Curtailment loss | 1.4 | 0 | 0 |
Defined Benefit Plan, Curtailments | 0.2 | 0 | 0 |
Special termination benefits | 0 | 0 | 0 |
Defined Benefit Plans, Estimated Future Employer Contributions in Current Fiscal Year | 0.3 | ||
Defined Benefit Plan, Amount to be Amortized from Accumulated Other Comprehensive Income (Loss) Next Fiscal Year | 0.2 | ||
Other Comprehensive (Income) Loss, Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service Cost (Credit), before Tax | (1.7) | (0.4) | (0.4) |
Pension Plan [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Curtailment loss | 9.3 | 2.2 | |
Defined Benefit Plan, Curtailments | 8.2 | 0 | 2.2 |
Special termination benefits | 1.9 | 0 | 0 |
Defined Benefit Plan, Amount to be Amortized from Accumulated Other Comprehensive Income (Loss) Next Fiscal Year | 4.1 | ||
Other Comprehensive (Income) Loss, Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service Cost (Credit), before Tax | $ (14.0) | $ (5.0) | $ (5.3) |
X | ||||||||||
- Definition
Defined Benefit Plan, Number of Employees Covered No definition available.
|
X | ||||||||||
- Definition
Defined Benefit Plan Percentage Of Employees Covered No definition available.
|
X | ||||||||||
- Definition
Defined Contribution Plan Employer Discretionary Contribution Percent No definition available.
|
X | ||||||||||
- Definition
Postretirement Health Care Benefits, Number of Eligible No definition available.
|
X | ||||||||||
- Definition
Postretirement Health Care Benefits, Number of Employees Covered No definition available.
|
X | ||||||||||
- Definition
For defined benefit pension plans, the actuarial present value of benefits (whether vested or nonvested) attributed by the pension benefit formula to employee service rendered before a specified date and based on employee service and compensation (if applicable) before that date. The accumulated benefit obligation differs from the projected benefit obligation in that it includes no assumption about future compensation levels. For plans with flat-benefit or nonpay-related pension benefit formulas, the accumulated benefit obligation and the projected benefit obligation are the same. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount included in accumulated other comprehensive income (AOCI) expected to be recognized as components of net periodic benefit cost for the fiscal year that follows the most recent annual statement of financial position, including gain (loss), prior service cost (credit), and transition asset (obligation). No definition available.
|
X | ||||||||||
- Definition
If applicable, the cost of providing special or contractual termination benefits recognized during the period on the projected benefit obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of decrease that is related to an event that significantly reduces the expected years of future service of present employees or eliminates for a significant number of employees the accrual of defined benefits for some or all of their future services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The amount of net gain (loss) recognized in net periodic benefit cost as a result of an event that significantly reduces the expected years of future service of present employees or eliminates for a significant number of employees the accrual of defined benefits for some or all of their future services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of employer's best estimate of contributions expected to be paid to the plan in the current remaining fiscal period. No definition available.
|
X | ||||||||||
- Definition
The amount of the cost recognized during the period for defined contribution plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Percentage employer matches of the employee's percentage contribution matched. No definition available.
|
X | ||||||||||
- Definition
Maximum percentage of employee gross pay the employee may contribute to a defined contribution plan. No definition available.
|
X | ||||||||||
- Definition
Amount before tax of reclassification adjustment from accumulated other comprehensive (income) loss for prior service cost (credit) related to pension and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of cash or cash equivalents contributed by the entity to fund its pension plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Employee Benefits Schedule of Changes in Benefit Obligations and Fair Value of Plan Assets (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
||||||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ||||||||
Special termination benefits | $ 0 | |||||||
Benefit payments | (2.9) | (2.1) | ||||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||||
Fair value of plan assets, beginning of period | 71.7 | 55.2 | ||||||
Company contributions to the plan | 8.1 | 8.1 | ||||||
Benefit payments | (2.9) | (2.1) | ||||||
Fair value of plan assets, end of period | 81.4 | 71.7 | 55.2 | |||||
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract] | ||||||||
Net actuarial loss recognized in AOCI | (13.6) | [1] | 13.5 | [1] | (10.0) | [1] | ||
Pension Plan [Member]
|
||||||||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ||||||||
Benefit obligation, beginning of period | 118.0 | 129.7 | ||||||
Service cost | 2.6 | 3.3 | 4.0 | |||||
Interest cost | 5.3 | 4.8 | 5.1 | |||||
Special termination benefits | 1.9 | 0 | 0 | |||||
Loss on curtailment in current period | (8.2) | 0 | (2.2) | |||||
Settlements | (2.3) | 0 | ||||||
Benefit payments | (5.5) | (5.5) | ||||||
Actuarial loss (gain) | 20.8 | (14.3) | ||||||
Benefit obligation, end of period | 132.6 | 118.0 | 129.7 | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||||
Fair value of plan assets, beginning of period | 71.7 | 55.3 | ||||||
Actual gain on plan assets | 4.5 | 10.4 | ||||||
Company contributions to the plan | 13.0 | 11.5 | ||||||
Benefit payments | (5.5) | (5.5) | ||||||
Settlements | (2.3) | 0 | ||||||
Fair value of plan assets, end of period | 81.4 | 71.7 | 55.3 | |||||
Underfunded status (current and long-term) | (51.2) | (46.3) | ||||||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | ||||||||
Amounts included in accounts payable and accrued expenses | (4.3) | (5.5) | ||||||
Amounts included in other long-term liabilities | (46.9) | (40.8) | ||||||
Total amount recognized in balance sheets | (51.2) | (46.3) | ||||||
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract] | ||||||||
Net actuarial loss recognized in AOCI | 21.2 | 9.5 | ||||||
Prior service cost recognized in AOCI | 16.1 | 30.1 | ||||||
Total amount recognized in AOCI | 37.3 | 39.6 | ||||||
Other Postretirement Benefit Plan [Member]
|
||||||||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ||||||||
Benefit obligation, beginning of period | 5.9 | 6.7 | ||||||
Service cost | 0 | 0.1 | 0.1 | |||||
Interest cost | 0.3 | 0.3 | 0.3 | |||||
Special termination benefits | 0 | 0 | 0 | |||||
Loss on curtailment in current period | (0.2) | 0 | 0 | |||||
Settlements | 0 | 0 | ||||||
Benefit payments | 0 | (0.1) | ||||||
Actuarial loss (gain) | 0.6 | (1.1) | ||||||
Benefit obligation, end of period | 6.6 | 5.9 | 6.7 | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||||
Fair value of plan assets, beginning of period | 0 | 0 | ||||||
Actual gain on plan assets | 0 | 0 | ||||||
Company contributions to the plan | 0 | 0.1 | ||||||
Benefit payments | 0 | (0.1) | ||||||
Settlements | 0 | 0 | ||||||
Fair value of plan assets, end of period | 0 | 0 | 0 | |||||
Underfunded status (current and long-term) | (6.6) | (5.9) | ||||||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | ||||||||
Amounts included in accounts payable and accrued expenses | (0.3) | (0.2) | ||||||
Amounts included in other long-term liabilities | (6.3) | (5.7) | ||||||
Total amount recognized in balance sheets | (6.6) | (5.9) | ||||||
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract] | ||||||||
Net actuarial loss recognized in AOCI | 0.6 | 0.2 | ||||||
Prior service cost recognized in AOCI | 1.4 | 3.0 | ||||||
Total amount recognized in AOCI | $ 2.0 | $ 3.2 | ||||||
|
X | ||||||||||
- Definition
The pretax total of net gain (loss), prior service cost (credit), and transition assets (obligations), as well as minimum pension liability if still remaining, included in accumulated other comprehensive income associated with a defined benefit pension or other postretirement plan(s) because they have yet to be recognized as components of net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The difference between fair value of plan assets at the end of the period and the fair value at the beginning of the period, adjusted for contributions and payments of benefits during the period, and after adjusting for taxes and other expenses, as applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of gain (loss) related to change in benefit obligation resulting from changes in actuarial assumptions, for example, but not limited to, interest, mortality, employee turnover, salary, and temporary deviation from the substantive plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
1) For defined benefit pension plans, the benefit obligation is the projected benefit obligation, which is the actuarial present value as of a date of all benefits attributed by the pension benefit formula to employee service rendered prior to that date. 2) For other postretirement defined benefit plans, the benefit obligation is the accumulated postretirement benefit obligation, which is the actuarial present value of benefits attributed to employee service rendered to a particular date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of payments made for which participants are entitled under a pension plan, including pension benefits, death benefits, and benefits due on termination of employment. Also includes payments made under a postretirement benefit plan, including prescription drug benefits, health care benefits, life insurance benefits, and legal, educational and advisory services. This item represents a periodic decrease to the plan obligations and a decrease to plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The increase in the fair value of plan assets from contributions made by the employer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
If applicable, the cost of providing special or contractual termination benefits recognized during the period on the projected benefit obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of decrease that is related to an event that significantly reduces the expected years of future service of present employees or eliminates for a significant number of employees the accrual of defined benefits for some or all of their future services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Assets, usually stocks, bonds, and other investments, that have been segregated and restricted (usually in a trust) to provide benefits, at their fair value as of the measurement date. Plan assets include amounts contributed by the employer (and by employees for a contributory plan) and amounts earned from investing the contributions, less benefits paid. If a plan has liabilities other than for benefits, those non-benefit obligations may be considered as reductions of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The funded status is measured as the difference between the fair value of plan assets and the benefit obligation. Will normally be the same as the net Defined Benefit Plan, Amounts Recognized in Balance Sheet, Total. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase in a defined benefit pension plan's projected benefit obligation or a defined benefit postretirement plan's accumulated postretirement benefit obligation due to the passage of time. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The actuarial present value of benefits attributed by the pension benefit formula to services rendered by employees during the period. The portion of the expected postretirement benefit obligation attributed to employee service during the period. The service cost component is a portion of the benefit obligation and is unaffected by the funded status of the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of decrease that relates to an irrevocable action that relieves the employer (or the plan) of primary responsibility for a benefit obligation and eliminates significant risks related to the obligation and the assets used to effect the settlement. Examples of transactions that constitute a settlement include (a) making lump-sum cash payments to plan participants in exchange for their rights to receive specified benefits and (b) purchasing nonparticipating annuity contracts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount that relates to an irrevocable action that relieves the employer (or the plan) of primary responsibility for a benefit obligation and eliminates significant risks related to the obligation and the assets used to effect the settlement. Examples of transactions that constitute a settlement include (a) making lump-sum cash payments to plan participants in exchange for their rights to receive specified benefits and (b) purchasing nonparticipating annuity contracts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after tax of cost (credit) of benefit changes attributable to plan participants' prior service resulting from a plan amendment or plan initiation that has not been recognized in net periodic benefit cost (credit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after tax of (increase) decrease in the value of the projected benefit obligation related to a change in an actuarial assumption and increase (decrease) in the value of the plan assets resulting from experience different from that assumed, that has not been recognized in net periodic benefit (cost) credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
For a classified balance sheet, the amount recognized in balance sheet as a current liability associated with an underfunded defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This represents the entire liability recognized in the balance sheet that is associated with the defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This represents the noncurrent liability for underfunded plans recognized in the balance sheet that is associated with the defined benefit pension plans and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Employee Benefits Schedule of Net Periodic Benefit Cost and Other Comprehensive Income for Pension and Other Postretirement Benefit Plans (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Curtailment loss | $ 0 | ||
Special termination benefits | 0 | ||
Settlements | 0 | ||
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract] | |||
Settlements | 0 | ||
Pension Plan [Member]
|
|||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 2.6 | 3.3 | 4.0 |
Interest cost | 5.3 | 4.8 | 5.1 |
Expected return on plan assets | (5.1) | (3.9) | (3.6) |
Curtailment loss | 9.3 | 2.2 | |
Special termination benefits | 1.9 | 0 | 0 |
Settlements | (0.7) | 0 | 0 |
Amortization of prior service costs | 4.7 | 5.0 | 5.3 |
Amortization of actuarial loss | 0.8 | 2.3 | 1.9 |
Periodic expense | 20.2 | 11.5 | 14.9 |
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract] | |||
Current period actuarial loss (gain) | 21.5 | (20.8) | 15.9 |
Amortization of actuarial loss | (0.8) | (2.3) | (1.9) |
Amortization of prior service cost | (14.0) | (5.0) | (5.3) |
Loss on curtailment in current period | (8.2) | 0 | (2.2) |
Settlements | 0.7 | 0 | 0 |
Total amount recognized in accumulated other comprehensive income | (2.2) | (28.1) | 6.5 |
Other Postretirement Benefit Plan [Member]
|
|||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 0 | 0.1 | 0.1 |
Interest cost | 0.3 | 0.3 | 0.3 |
Expected return on plan assets | 0 | 0 | 0 |
Curtailment loss | 1.4 | 0 | 0 |
Special termination benefits | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 |
Amortization of prior service costs | 0.3 | 0.3 | 0.3 |
Amortization of actuarial loss | 0 | 0.1 | 0.1 |
Periodic expense | 2.0 | 0.8 | 0.8 |
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract] | |||
Current period actuarial loss (gain) | 0.6 | (1.0) | 0.4 |
Amortization of actuarial loss | 0 | (0.1) | (0.1) |
Amortization of prior service cost | (1.7) | (0.4) | (0.4) |
Loss on curtailment in current period | (0.2) | 0 | 0 |
Settlements | 0 | 0 | 0 |
Total amount recognized in accumulated other comprehensive income | $ (1.3) | $ (1.5) | $ (0.1) |
X | ||||||||||
- Definition
The amount of gains or losses recognized in net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of the prior service cost or credit recognized in net periodic benefit cost relating to benefit changes attributable to plan participants' prior service pursuant to a plan amendment or a plan initiation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
If applicable, the cost of providing special or contractual termination benefits recognized during the period on the projected benefit obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of decrease that is related to an event that significantly reduces the expected years of future service of present employees or eliminates for a significant number of employees the accrual of defined benefits for some or all of their future services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
An amount calculated as a basis for determining the extent of delayed recognition of the effects of changes in the fair value of assets. The expected return on plan assets is determined based on the expected long-term rate of return on plan assets and the market-related value of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase in a defined benefit pension plan's projected benefit obligation or a defined benefit postretirement plan's accumulated postretirement benefit obligation due to the passage of time. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total amount of net periodic benefit cost for defined benefit plans for the period. Periodic benefit costs include the following components: service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) due to settlements or curtailments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The amount of net gain (loss) recognized in net periodic benefit cost as a result of an event that significantly reduces the expected years of future service of present employees or eliminates for a significant number of employees the accrual of defined benefits for some or all of their future services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of net gain (loss) recognized in net periodic benefit cost as a result of an irrevocable action that relieves the employer (or the plan) of primary responsibility for a benefit obligation and eliminates significant risks related to the obligation and the assets used to effect the settlement. Examples of transactions that constitute a settlement include, but are not limited to, lump-sum cash payments to plan participants in exchange for their rights to receive specified benefits and purchasing nonparticipating annuity contracts to cover vested benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The actuarial present value of benefits attributed by the pension benefit formula to services rendered by employees during the period. The portion of the expected postretirement benefit obligation attributed to employee service during the period. The service cost component is a portion of the benefit obligation and is unaffected by the funded status of the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before tax of reclassification adjustment from accumulated other comprehensive (income) loss for prior service cost (credit) related to pension and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before tax, after reclassification adjustments, of (increase) decrease in accumulated other comprehensive (income) loss related to pension and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before tax of (increase) decrease in the value of the projected benefit obligation related to a change in an actuarial assumption and increase (decrease) in the value of the plan assets resulting from experience different from that assumed, that has not been recognized in net periodic benefit (cost) credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before tax of reclassification adjustment from accumulated other comprehensive income (loss) for actuarial gain (loss) related to pension and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Employee Benefits Schedule of Weighted Average Actuarial Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Costs (Details)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Pension Plan [Member]
|
|||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Discount rate used in calculating benefit obligation | 3.94% | 4.75% | |
Rate of increase in compensation used for calculating benefit obligation | 4.00% | 4.00% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Discount rate used in calculating net periodic benefit cost | 4.40% | 3.69% | 4.38% |
Expected long-term return on plan assets used in calculating net periodic benefit cost | 7.00% | 6.75% | 7.25% |
Rate of increase in compensation used in calculating net periodic benefit cost | 4.00% | 3.60% | 3.60% |
Other Postretirement Benefit Plan [Member]
|
|||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Discount rate used in calculating benefit obligation | 4.00% | 5.00% | |
Rate of increase in compensation used for calculating benefit obligation | 4.00% | 4.00% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Discount rate used in calculating net periodic benefit cost | 5.00% | 4.10% | 4.70% |
Rate of increase in compensation used in calculating net periodic benefit cost | 4.00% | 3.60% | 4.00% |
X | ||||||||||
- Definition
The interest rate used to adjust for the time value of money for the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Expected rate of compensation increases (for pay-related plans). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The interest rate used to adjust for the time value of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
An assumption as to the rate of return on plan assets reflecting the average rate of earnings expected on the funds invested or to be invested to provide for the benefits included in the benefit obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Expected rate of compensation increases (for pay-related plans). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Employee Benefits Schedule of Fair Values of Pension and Postretirement Benefit Assets by Asset Class (Details) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
---|---|---|---|
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | $ 81.4 | $ 71.7 | $ 55.2 |
Defined Benefit Plan, Actual Plan Asset Allocations | 100.00% | 100.00% | |
Cash and Cash Equivalents [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0.3 | 0.3 | |
Defined Benefit Plan, Actual Plan Asset Allocations | 0.00% | 0.00% | |
Domestic Equity Securities [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 36.7 | 29.3 | |
Defined Benefit Plan, Actual Plan Asset Allocations | 45.00% | 41.00% | |
Foreign Equity Securities [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 20.2 | 21.3 | |
Defined Benefit Plan, Actual Plan Asset Allocations | 25.00% | 30.00% | |
Debt Securities [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 24.2 | 20.8 | |
Defined Benefit Plan, Actual Plan Asset Allocations | 30.00% | 29.00% | |
Fair Value, Inputs, Level 1 [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Cash and Cash Equivalents [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Domestic Equity Securities [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Foreign Equity Securities [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Cash and Cash Equivalents [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Domestic Equity Securities [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Foreign Equity Securities [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 81.4 | 71.7 | |
Fair Value, Inputs, Level 3 [Member] | Cash and Cash Equivalents [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 0.3 | 0.3 | |
Fair Value, Inputs, Level 3 [Member] | Domestic Equity Securities [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 36.7 | 29.3 | |
Fair Value, Inputs, Level 3 [Member] | Foreign Equity Securities [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | 20.2 | 21.3 | |
Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member]
|
|||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Defined Benefit Plan, Fair Value of Plan Assets | $ 24.2 | $ 20.8 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Assets, usually stocks, bonds, and other investments, that have been segregated and restricted (usually in a trust) to provide benefits, at their fair value as of the measurement date. Plan assets include amounts contributed by the employer (and by employees for a contributory plan) and amounts earned from investing the contributions, less benefits paid. If a plan has liabilities other than for benefits, those non-benefit obligations may be considered as reductions of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Percentage of fair value of investments (categorized by debt securities, equity securities, real estate and other plan assets) to the fair value of plan assets held. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Employee Benefits Schedule of Changes in Level 3 Assets (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | |
---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
|
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Fair value of plan assets, beginning of period | $ 71.7 | $ 55.2 |
Employer contributions | 8.1 | 8.1 |
Unrealized gains (losses) | (1.0) | 9.8 |
Realized gains (losses) | 5.9 | 1.0 |
Administration fees | (0.4) | (0.3) |
Benefits paid | (2.9) | (2.1) |
Fair value of plan assets, end of period | 81.4 | 71.7 |
Fair Value, Inputs, Level 3 [Member]
|
||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Fair value of plan assets, end of period | $ 81.4 | $ 71.7 |
X | ||||||||||
- Definition
Amount of plan administration expenses deducted from total plan assets. No definition available.
|
X | ||||||||||
- Definition
The amount of payments made for which participants are entitled under a pension plan, including pension benefits, death benefits, and benefits due on termination of employment. Also includes payments made under a postretirement benefit plan, including prescription drug benefits, health care benefits, life insurance benefits, and legal, educational and advisory services. This item represents a periodic decrease to the plan obligations and a decrease to plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The increase in the fair value of plan assets from contributions made by the employer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Assets, usually stocks, bonds, and other investments, that have been segregated and restricted (usually in a trust) to provide benefits, at their fair value as of the measurement date. Plan assets include amounts contributed by the employer (and by employees for a contributory plan) and amounts earned from investing the contributions, less benefits paid. If a plan has liabilities other than for benefits, those non-benefit obligations may be considered as reductions of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net realized gains or losses on investments during the period, not including gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of investments, not including unrealized gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity, held at each balance sheet date and included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Employee Benefits Schedule of Expected Benefit Payments for Pension and Other Postretirement Benefits (Details) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2014
|
---|---|
Pension Plan [Member]
|
|
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2015 | $ 8.3 |
2016 | 7.0 |
2017 | 6.3 |
2018 | 6.3 |
2019 | 7.2 |
2020 through 2021 | 41.8 |
Other Postretirement Benefit Plan [Member]
|
|
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
2015 | 0.3 |
2016 | 0.4 |
2017 | 0.4 |
2018 | 0.4 |
2019 | 0.4 |
2020 through 2021 | $ 1.8 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of benefits from a defined benefit plan expected to be paid in the five fiscal years after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of benefits from a defined benefit plan expected to be paid in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of benefits from a defined benefit plan expected to be paid in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of benefits from a defined benefit plan expected to be paid in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of benefits from a defined benefit plan expected to be paid in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of benefits from a defined benefit plan expected to be paid in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Income Taxes Schedule of Income Tax Expense (Benefit) (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Federal Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current Federal Tax Expense (Benefit) | $ (324.0) | $ (92.2) | $ (10.3) |
Deferred Federal Income Tax Expense (Benefit) | 110.3 | 152.3 | 15.6 |
State and Local Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current State and Local Tax Expense (Benefit) | (15.5) | (1.4) | (1.8) |
Deferred State and Local Income Tax Expense (Benefit) | (3.3) | 1.4 | (5.4) |
10% annual discount for estimated timing of net cash flows | 5,159.9 | 4,680.2 | 3,942.0 |
Future production costs | 9,842.1 | 8,400.3 | 5,027.2 |
Future net cash flows | 10,499.9 | 9,064.1 | 6,976.7 |
Future income tax expenses | 4,304.0 | 3,284.6 | 2,269.0 |
Income tax (provision) benefit | $ (232.5) | $ 60.1 | $ (1.9) |
X | ||||||||||
- Definition
Amount of current federal tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of current state and local tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of deferred federal income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of deferred state and local tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of estimated future accumulated cash outflow for income tax, based on the future income less future expense derived from production and sale of proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount, after future accumulated cash outflow for development and production costs and future income tax, of estimated future accumulated cash inflow from the sale of proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of estimated future accumulated cash outflow for costs to be incurred in producing proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of discount on future accumulated cash inflow, after deducting future accumulated cash outflow for development and production costs and future income tax, from sale of proved oil and gas reserves, using a discount rate of ten percent a year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Income Taxes Reconciliation of Statutory Federal Income Tax Rate and Effective Tax Rate (Details)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Effective Income Tax Rate Reconciliation, Percent [Abstract] | |||
Federal income taxes statutory rate | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal income tax benefit | (1.50%) | (5.00%) | (2220.00%) |
State rate change | 3.40% | 0.00% | 0.00% |
Penalties | 0.00% | 0.40% | 80.00% |
Return to provision adjustment | (0.40%) | 5.00% | 1400.00% |
Book impairment of goodwill | 0.00% | 18.60% | 0.00% |
Other | (0.30%) | (0.40%) | 325.00% |
Effective income tax rate | 36.20% | 53.60% | (380.00%) |
X | ||||||||||
- Definition
Effective Income Tax Rate Reconciliation Penalties No definition available.
|
X | ||||||||||
- Definition
Effective Income Tax Rate Reconciliation Return To Provision Adjustment No definition available.
|
X | ||||||||||
- Definition
Effective Income Tax Reconciliation State Rate Change No definition available.
|
X | ||||||||||
- Definition
Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Percentage of domestic federal statutory tax rate applicable to pretax income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to impairment loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to state and local income tax expense (benefit), net of federal tax expense (benefit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Income Taxes Schedule of Deferred Income Tax Assets and Liabilities (Details) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2014
|
Dec. 31, 2013
|
---|---|---|
Components of Deferred Tax Assets and Liabilities [Abstract] | ||
Deferred Tax Liabilities, Property, Plant and Equipment | $ 1,402.9 | $ 1,455.6 |
Deferred Tax Liabilities, Derivatives | 127.7 | 0 |
Deferred Tax Liabilities, Net | 1,530.6 | 1,455.6 |
Deferred Tax Assets, Derivative Instruments | 0 | 9.8 |
Deferred Tax Assets Net Operating Loss And Tax Credit Carryforwards | 11.7 | 54.4 |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits | 43.0 | 36.1 |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Contingencies | 0 | 0.8 |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Bonuses | 16.3 | 9.0 |
Deferred Tax Assets, Other | 12.4 | 8.5 |
Deferred Tax Assets, Gross | 83.4 | 118.6 |
Deferred Tax Assets, Net of Valuation Allowance, Classification [Abstract] | ||
Deferred Tax Assets, Net of Valuation Allowance, Current | 0 | 27.9 |
Deferred income taxes | 84.5 | 0 |
Deferred Tax Liabilities, Net, Noncurrent | 1,362.7 | 1,364.9 |
Deferred Tax Liabilities, Net | $ 1,447.2 | $ 1,337.0 |
X | ||||||||||
- Definition
Deferred Tax Assets Net Operating Loss And Tax Credit Carryforwards No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of deferred tax liability attributable to taxable temporary differences. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from derivative instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards expected to be realized or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from compensation and benefits costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from employee bonuses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from contingent liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of deferred tax liability attributable to taxable temporary differences net of deferred tax asset attributable to deductible temporary differences and carryforwards after valuation allowances. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of deferred tax liability attributable to taxable temporary differences, net of deferred tax asset attributable to deductible temporary differences and carryforwards net of valuation allowances expected to be realized or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of deferred tax liability attributable to taxable temporary differences from derivatives. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of deferred tax liability attributable to taxable temporary differences, net of deferred tax asset attributable to deductible temporary differences and carryforwards net of valuation allowances expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of deferred tax liability attributable to taxable temporary differences from property, plant, and equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Income Taxes Amounts and Expiration Dates of Net Operating Loss and Tax Credit Carryforwards (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended |
---|---|
Dec. 31, 2014
|
|
Deferred Tax Assets, Tax Credit Carryforwards [Abstract] | |
State net operating loss and tax credit carryforwards | $ 30.1 |
U.S. alternative minimum tax credit | 0 |
Total tax credit carryforwards | 11.7 |
State net operating loss valuation allowance | $ (18.4) |
Operating Loss Carryforwards Minimum Expiration Date | 2015 |
Operating Loss Carryforwards Maximum Expiration Date | 2033 |
X | ||||||||||
- Definition
Operating Loss Carryforwards Maximum Expiration Date No definition available.
|
X | ||||||||||
- Definition
Operating Loss Carryforwards Minimum Expiration Date No definition available.
|
X | ||||||||||
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible state and local operating loss carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The tax effect as of the balance sheet date of the amount of future tax deductions arising from all unused tax credit carryforwards which have been reduced by a valuation allowance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible alternative minimum tax credit carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of the valuation allowance pertaining to the deferred tax asset representing potential future taxable deductions from net operating loss carryforwards for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Operations by Line of Business (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014
|
Sep. 30, 2014
|
Jun. 30, 2014
|
Mar. 31, 2014
|
Dec. 31, 2013
|
Sep. 30, 2013
|
Jun. 30, 2013
|
Mar. 31, 2013
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Revenues | |||||||||||
Total Revenues | $ 799.6 | $ 910.0 | $ 887.2 | $ 817.5 | $ 620.3 | $ 719.5 | $ 694.0 | $ 651.3 | $ 3,414.3 | $ 2,685.1 | $ 2,071.7 |
Operating expenses | |||||||||||
Purchased gas, oil and NGL expense | 1,031.2 | 783.5 | 670.7 | ||||||||
Lease operating expense | 240.1 | 181.3 | 175.8 | ||||||||
Natural gas, oil and NGL transportation and other handling costs | 277.6 | 222.0 | 198.1 | ||||||||
Gathering and other expense | 6.7 | 8.4 | 8.2 | ||||||||
General and administrative | 204.4 | 160.4 | 248.4 | ||||||||
Production and property taxes | 205.2 | 161.3 | 98.5 | ||||||||
Depreciation, depletion and amortization | 994.7 | 963.8 | 850.2 | ||||||||
Other Expenses | 1,153.1 | 104.9 | 144.2 | ||||||||
Operating Expenses | 4,113.0 | 2,585.6 | 2,394.1 | ||||||||
Net gain (loss) from asset sales | (148.6) | 103.5 | 1.2 | ||||||||
OPERATING INCOME (LOSS) | (1,067.3) | 115.1 | (35.9) | 140.8 | (66.7) | 83.3 | 159.1 | 27.3 | (847.3) | 203.0 | (321.2) |
Realized and unrealized gains (losses) on derivative contracts | 363.3 | 58.9 | 433.5 | ||||||||
Interest and other income | 12.8 | 15.2 | 15.0 | ||||||||
Income from unconsolidated affiliates | 0.3 | 0.2 | 0.1 | ||||||||
Loss from early extinguishment of debt | (2.0) | 0 | (0.6) | ||||||||
Interest expense | (169.1) | (165.1) | (126.3) | ||||||||
Income (loss) from continuing operations before income taxes | (642.0) | 112.2 | 0.5 | ||||||||
Income tax (provision) benefit | 232.5 | (60.1) | 1.9 | ||||||||
NET INCOME FROM CONTINUING OPERATIONS | (469.8) | 153.7 | (106.1) | 12.7 | (84.4) | 12.1 | 149.2 | (24.8) | (409.5) | 52.1 | 2.4 |
Net income from discontinued operations, net of income tax | 1,135.7 | 17.4 | 13.8 | 27.0 | 32.4 | 25.2 | 29.2 | 20.5 | 1,193.9 | 107.3 | 125.9 |
NET INCOME ATTRIBUTABLE TO QEP | 665.9 | 171.1 | (92.3) | 39.7 | (52.0) | 37.3 | 178.4 | (4.3) | 784.4 | 159.4 | 128.3 |
Assets | 9,286.8 | 9,408.9 | 9,286.8 | 9,408.9 | 9,108.5 | ||||||
Cash capital expenditures | 2,726.4 | 1,602.6 | 2,799.7 | ||||||||
Accrued capital expenditures | 2,734.8 | 1,577.4 | 2,888.2 | ||||||||
Goodwill | 59.5 | ||||||||||
Unaffiliated customers [Member]
|
|||||||||||
Revenues | |||||||||||
Total Revenues | 3,414.3 | 2,685.1 | 2,071.7 | ||||||||
Affiliated customers [Member]
|
|||||||||||
Revenues | |||||||||||
Total Revenues | 0 | 0 | 0 | ||||||||
QEP Energy [Member]
|
|||||||||||
Revenues | |||||||||||
Total Revenues | 2,524.6 | 2,092.8 | 1,615.4 | ||||||||
Operating expenses | |||||||||||
Purchased gas, oil and NGL expense | 150.0 | 197.1 | 224.7 | ||||||||
Lease operating expense | 240.1 | 181.3 | 175.8 | ||||||||
Natural gas, oil and NGL transportation and other handling costs | 291.5 | 242.2 | 228.1 | ||||||||
Gathering and other expense | 0 | 0 | 0 | ||||||||
General and administrative | 201.3 | 160.6 | 252.8 | ||||||||
Production and property taxes | 204.0 | 159.8 | 97.2 | ||||||||
Depreciation, depletion and amortization | 984.4 | 954.2 | 838.4 | ||||||||
Other Expenses | 1,153.1 | 104.9 | 144.2 | ||||||||
Operating Expenses | 3,224.4 | 2,000.1 | 1,961.2 | ||||||||
Net gain (loss) from asset sales | (148.6) | 104.1 | 1.2 | ||||||||
OPERATING INCOME (LOSS) | (848.4) | 196.8 | (344.6) | ||||||||
Realized and unrealized gains (losses) on derivative contracts | 367.2 | 59.1 | 434.9 | ||||||||
Interest and other income | 11.8 | 3.6 | 6.2 | ||||||||
Income from unconsolidated affiliates | 0.3 | 0.2 | 0.1 | ||||||||
Loss from early extinguishment of debt | 0 | ||||||||||
Interest expense | (210.3) | (192.6) | (116.8) | ||||||||
Income (loss) from continuing operations before income taxes | (679.4) | 67.1 | (20.2) | ||||||||
Income tax (provision) benefit | (246.9) | 41.5 | (12.1) | ||||||||
NET INCOME FROM CONTINUING OPERATIONS | (432.5) | 25.6 | (8.1) | ||||||||
Net income from discontinued operations, net of income tax | 0 | 0 | 0 | ||||||||
NET INCOME ATTRIBUTABLE TO QEP | (432.5) | (8.1) | |||||||||
Assets | 8,001.1 | 7,937.0 | 8,001.1 | 7,937.0 | 7,436.5 | ||||||
Cash capital expenditures | 2,660.3 | 1,488.6 | 2,621.1 | ||||||||
Accrued capital expenditures | 2,670.5 | 1,467.2 | 2,702.4 | ||||||||
Goodwill | 59.5 | ||||||||||
QEP Energy [Member] | Unaffiliated customers [Member]
|
|||||||||||
Revenues | |||||||||||
Total Revenues | 2,524.6 | 2,092.8 | 1,615.4 | ||||||||
QEP Energy [Member] | Affiliated customers [Member]
|
|||||||||||
Revenues | |||||||||||
Total Revenues | 0 | 0 | 0 | ||||||||
QEP Marketing and Other [Member]
|
|||||||||||
Revenues | |||||||||||
Total Revenues | 2,382.3 | 1,601.2 | 1,067.5 | ||||||||
Operating expenses | |||||||||||
Purchased gas, oil and NGL expense | 2,356.6 | 1,570.5 | 1,021.1 | ||||||||
Lease operating expense | 0 | 0 | 0 | ||||||||
Natural gas, oil and NGL transportation and other handling costs | 0 | 0 | 0 | ||||||||
Gathering and other expense | 6.8 | 8.4 | 8.2 | ||||||||
General and administrative | 6.3 | 4.4 | 1.7 | ||||||||
Production and property taxes | 1.2 | 1.5 | 1.3 | ||||||||
Depreciation, depletion and amortization | 10.3 | 9.6 | 11.8 | ||||||||
Other Expenses | 0 | 0 | 0 | ||||||||
Operating Expenses | 2,381.2 | 1,594.4 | 1,044.1 | ||||||||
Net gain (loss) from asset sales | 0 | (0.6) | 0 | ||||||||
OPERATING INCOME (LOSS) | 1.1 | 6.2 | 23.4 | ||||||||
Realized and unrealized gains (losses) on derivative contracts | (3.9) | (0.2) | (1.4) | ||||||||
Interest and other income | 209.7 | 206.9 | 132.3 | ||||||||
Income from unconsolidated affiliates | 0 | 0 | 0 | ||||||||
Loss from early extinguishment of debt | (2.0) | (0.6) | |||||||||
Interest expense | (167.5) | (167.8) | (133.0) | ||||||||
Income (loss) from continuing operations before income taxes | 37.4 | 45.1 | 20.7 | ||||||||
Income tax (provision) benefit | 14.4 | 18.6 | 10.2 | ||||||||
NET INCOME FROM CONTINUING OPERATIONS | 23.0 | 26.5 | 10.5 | ||||||||
Net income from discontinued operations, net of income tax | 0 | 0 | 0 | ||||||||
NET INCOME ATTRIBUTABLE TO QEP | 23.0 | 10.5 | |||||||||
Assets | 1,285.7 | 182.2 | 1,285.7 | 182.2 | 244.6 | ||||||
Cash capital expenditures | 10.9 | 25.1 | 22.4 | ||||||||
Accrued capital expenditures | 13.6 | 24.6 | 21.6 | ||||||||
Goodwill | 0 | ||||||||||
QEP Marketing and Other [Member] | Unaffiliated customers [Member]
|
|||||||||||
Revenues | |||||||||||
Total Revenues | 889.7 | 592.3 | 456.3 | ||||||||
QEP Marketing and Other [Member] | Affiliated customers [Member]
|
|||||||||||
Revenues | |||||||||||
Total Revenues | 1,492.6 | 1,008.9 | 611.2 | ||||||||
Elimination [Member]
|
|||||||||||
Revenues | |||||||||||
Total Revenues | (1,492.6) | (1,008.9) | (611.2) | ||||||||
Operating expenses | |||||||||||
Purchased gas, oil and NGL expense | (1,475.4) | (984.1) | (575.1) | ||||||||
Lease operating expense | 0 | 0 | 0 | ||||||||
Natural gas, oil and NGL transportation and other handling costs | (13.9) | (20.2) | (30.0) | ||||||||
Gathering and other expense | (0.1) | 0 | 0 | ||||||||
General and administrative | (3.2) | (4.6) | (6.1) | ||||||||
Production and property taxes | 0 | 0 | 0 | ||||||||
Depreciation, depletion and amortization | 0 | 0 | |||||||||
Other Expenses | 0 | 0 | 0 | ||||||||
Operating Expenses | (1,492.6) | (1,008.9) | (611.2) | ||||||||
Net gain (loss) from asset sales | 0 | 0 | 0 | ||||||||
OPERATING INCOME (LOSS) | 0 | 0 | 0 | ||||||||
Realized and unrealized gains (losses) on derivative contracts | 0 | 0 | 0 | ||||||||
Interest and other income | (208.7) | (195.3) | (123.5) | ||||||||
Income from unconsolidated affiliates | 0 | 0 | 0 | ||||||||
Loss from early extinguishment of debt | 0 | 0 | |||||||||
Interest expense | 208.7 | 195.3 | 123.5 | ||||||||
Income (loss) from continuing operations before income taxes | 0 | 0 | 0 | ||||||||
Income tax (provision) benefit | 0 | 0 | 0 | ||||||||
NET INCOME FROM CONTINUING OPERATIONS | 0 | 0 | 0 | ||||||||
Net income from discontinued operations, net of income tax | 0 | 0 | 0 | ||||||||
NET INCOME ATTRIBUTABLE TO QEP | 0 | 0 | |||||||||
Assets | 0 | 0 | 0 | 0 | 0 | ||||||
Cash capital expenditures | 0 | 0 | 0 | ||||||||
Accrued capital expenditures | 0 | 0 | 0 | ||||||||
Goodwill | 0 | ||||||||||
Elimination [Member] | Unaffiliated customers [Member]
|
|||||||||||
Revenues | |||||||||||
Total Revenues | 0 | 0 | 0 | ||||||||
Elimination [Member] | Affiliated customers [Member]
|
|||||||||||
Revenues | |||||||||||
Total Revenues | (1,492.6) | (1,008.9) | (611.2) | ||||||||
Discontinued Operations [Member]
|
|||||||||||
Revenues | |||||||||||
Total Revenues | 0 | 0 | 0 | ||||||||
Operating expenses | |||||||||||
Purchased gas, oil and NGL expense | 0 | 0 | 0 | ||||||||
Lease operating expense | 0 | 0 | 0 | ||||||||
Natural gas, oil and NGL transportation and other handling costs | 0 | 0 | 0 | ||||||||
Gathering and other expense | 0 | 0 | 0 | ||||||||
General and administrative | 0 | 0 | 0 | ||||||||
Production and property taxes | 0 | 0 | 0 | ||||||||
Depreciation, depletion and amortization | 0 | 0 | 0 | ||||||||
Other Expenses | 0 | 0 | 0 | ||||||||
Operating Expenses | 0 | 0 | 0 | ||||||||
Net gain (loss) from asset sales | 0 | 0 | 0 | ||||||||
OPERATING INCOME (LOSS) | 0 | 0 | 0 | ||||||||
Realized and unrealized gains (losses) on derivative contracts | 0 | 0 | 0 | ||||||||
Interest and other income | 0 | 0 | 0 | ||||||||
Income from unconsolidated affiliates | 0 | 0 | 0 | ||||||||
Loss from early extinguishment of debt | 0 | 0 | |||||||||
Interest expense | 0 | 0 | 0 | ||||||||
Income (loss) from continuing operations before income taxes | 0 | 0 | 0 | ||||||||
Income tax (provision) benefit | 0 | 0 | 0 | ||||||||
NET INCOME FROM CONTINUING OPERATIONS | 0 | 0 | 0 | ||||||||
Net income from discontinued operations, net of income tax | 1,193.9 | 107.3 | 125.9 | ||||||||
NET INCOME ATTRIBUTABLE TO QEP | 1,193.9 | 107.3 | 125.9 | ||||||||
Assets | 0 | 1,289.7 | 0 | 1,289.7 | 1,427.4 | ||||||
Cash capital expenditures | 55.2 | 88.9 | 156.2 | ||||||||
Accrued capital expenditures | 50.7 | 85.6 | 164.2 | ||||||||
Discontinued Operations [Member] | Affiliated customers [Member]
|
|||||||||||
Revenues | |||||||||||
Total Revenues | $ 0 |
X | ||||||||||
- Definition
Capital expendiutures, including those expeditures that have been incurred but for which cash has not been paid. No definition available.
|
X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate gain on all derivative instruments recognized in earnings during the period, before tax effects. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Cost incurred related to the gas activities, such as transportation, marketing and processing crude oil, natural gas and refined petroleum products. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of operating interest income, including, but not limited to, amortization and accretion of premiums and discounts on securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of lease operating expense related to property used in oil and gas production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate revenue during the period related to oil and gas business activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
X | ||||||||||
- Definition
This element represents a sum total of expenses not separately reflected on the income statement for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
A tax assessed on oil and gas production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Cost incurred related to the downstream oil and gas activities, including refining of crude oil and marketing and distribution of crude oil, refined petroleum products, and natural gas. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Depreciation, depletion, amortization, and accretion related to oil and gas producing activities. No definition available.
|
X | ||||||||||
- Definition
Cost incurred during the reporting period in transporting goods and services to customers. Includes freight-out costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Quarterly Financial Information (Unaudited) (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014
|
Sep. 30, 2014
|
Jun. 30, 2014
|
Mar. 31, 2014
|
Dec. 31, 2013
|
Sep. 30, 2013
|
Jun. 30, 2013
|
Mar. 31, 2013
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Effect of Fourth Quarter Events [Line Items] | |||||||||||
Revenues | $ 799.6 | $ 910.0 | $ 887.2 | $ 817.5 | $ 620.3 | $ 719.5 | $ 694.0 | $ 651.3 | $ 3,414.3 | $ 2,685.1 | $ 2,071.7 |
OPERATING INCOME (LOSS) | (1,067.3) | 115.1 | (35.9) | 140.8 | (66.7) | 83.3 | 159.1 | 27.3 | (847.3) | 203.0 | (321.2) |
Income (loss) from continuing operations | (469.8) | 153.7 | (106.1) | 12.7 | (84.4) | 12.1 | 149.2 | (24.8) | (409.5) | 52.1 | 2.4 |
Net income from discontinued operations, net of income tax | 1,135.7 | 17.4 | 13.8 | 27.0 | 32.4 | 25.2 | 29.2 | 20.5 | 1,193.9 | 107.3 | 125.9 |
Net income attributable to QEP | 665.9 | 171.1 | (92.3) | 39.7 | (52.0) | 37.3 | 178.4 | (4.3) | 784.4 | 159.4 | 128.3 |
Non-recurring income(loss) | $ (1,077.8) | $ (11.9) | $ (202.5) | $ 0.4 | $ (98.5) | $ 9.0 | $ 100.2 | $ (0.2) | $ (1,291.8) | $ 10.5 | |
Basic total | $ 4.36 | $ 0.89 | $ 0.72 | ||||||||
Diluted total | $ 4.36 | $ 0.89 | $ 0.72 | ||||||||
Continuing Operations [Member]
|
|||||||||||
Effect of Fourth Quarter Events [Line Items] | |||||||||||
Basic total | $ (2.62) | $ 0.85 | $ (0.59) | $ 0.07 | $ (0.47) | $ 0.07 | $ 0.83 | $ (0.14) | $ (2.28) | $ 0.29 | $ 0.01 |
Diluted total | $ (2.62) | $ 0.84 | $ (0.59) | $ 0.07 | $ (0.47) | $ 0.07 | $ 0.83 | $ (0.14) | $ (2.28) | $ 0.29 | $ 0.01 |
Discontinued Operations [Member]
|
|||||||||||
Effect of Fourth Quarter Events [Line Items] | |||||||||||
Basic total | $ 6.34 | $ 0.10 | $ 0.08 | $ 0.15 | $ 0.18 | $ 0.14 | $ 0.16 | $ 0.12 | $ 6.64 | $ 0.60 | $ 0.71 |
Diluted total | $ 6.34 | $ 0.10 | $ 0.08 | $ 0.15 | $ 0.18 | $ 0.14 | $ 0.16 | $ 0.12 | $ 6.64 | $ 0.60 | $ 0.71 |
X | ||||||||||
- Definition
Non-recurring income(loss) No definition available.
|
X | ||||||||||
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate revenue during the period related to oil and gas business activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
Supplemental Gas and Oil Information (Unaudited) Capitalized costs (Details) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2014
|
Dec. 31, 2013
|
---|---|---|
Capitalized Costs, Oil and Gas Producing Activities, Net [Abstract] | ||
Proved properties | $ 12,278.7 | $ 11,571.4 |
Unproved properties, net | 825.2 | 665.1 |
Total proved and unproved properties | 13,103.9 | 12,236.5 |
Accumulated depreciation, depletion and amortization | (6,153.0) | (4,930.9) |
Net capitalized costs | $ 6,950.9 | $ 7,305.6 |
X | ||||||||||
- Definition
Amount of accumulated depreciation, depletion, amortization and valuation allowance relating to oil and gas producing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The sum of capitalized costs relating to oil and gas producing activities before accounting for accumulated depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Net amount of capitalized costs relating to oil and gas producing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Capitalized costs of proved properties incurred for any combination mineral interests acquisitions; wells and related equipment; support equipment and facilities; and uncompleted wells and equipment and other costs not previously disclosed within this table. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Capitalized costs of unproved properties incurred for any combination mineral interests acquisitions and other costs not previously disclosed within this table. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Supplemental Gas and Oil Information (Unaudited) Costs incurred (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Abstract] | |||
Accrued capital costs included in development costs | $ 10.2 | ||
Costs Incurred, Asset Retirement Obligation Incurred | 51.1 | ||
Costs Incurred To Advance The Development Of Proved Undeveloped Reserves | 796.7 | 645.9 | 513.0 |
Unproved | 496.3 | 9.3 | 692.6 |
Proved | 465.4 | 31.6 | 714.4 |
Total property acquisitions | 961.7 | 40.9 | 1,407.0 |
Exploration | 23.6 | 14.6 | 14.3 |
Development | 1,695.1 | 1,440.8 | 1,310.0 |
Total costs incurred | $ 2,680.4 | $ 1,496.3 | $ 2,731.3 |
X | ||||||||||
- Definition
Represents capital costs accrued for the development of proved reserves. No definition available.
|
X | ||||||||||
- Definition
The costs incurred during the period to advance the development of reserves that were classified as proved undeveloped. No definition available.
|
X | ||||||||||
- Definition
Cost incurred, including capitalized costs and costs charged to expense, in acquisition of oil and gas properties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Costs incurred, including capitalized costs and costs charged to expense, associated with the acquisition of oil and gas properties that have proved reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Costs incurred, including capitalized costs and costs charged to expense, associated with the acquisition of oil and gas properties that have unproved reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of asset retirement obligations (ARO) costs incurred (whether capitalized or charged to expense) during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Development costs incurred, including capitalized costs and costs charged to expense, in oil and gas activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Exploration costs incurred, including capitalized costs and costs charged to expense, in oil and gas activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of costs incurred related to oil and gas property acquisition, exploration and development activities, including capitalized costs and costs charged to expense. No definition available.
|
X | ||||||||||
- Details
|
Supplemental Gas and Oil Information (Unaudited) Results of Operations (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Results of Operations, Income before Income Taxes [Abstract] | |||
Revenues (1) | $ 2,374.6 | $ 1,901.2 | $ 1,393.4 |
Production costs | 735.6 | 583.3 | 501.1 |
Exploration expenses | 9.9 | 11.9 | 11.2 |
Depreciation, depletion and amortization | 984.4 | 954.2 | 838.4 |
Abandonment and impairment | 1,143.2 | 93.0 | 133.0 |
Total expenses | 2,873.1 | 1,642.4 | 1,483.7 |
Income before income taxes | (498.5) | 258.8 | (90.3) |
Income taxes | 182.5 | (96.3) | 33.6 |
Results of operations from producing activities excluding allocated corporate overhead and interest expenses | $ (316.0) | $ 162.5 | $ (56.7) |
X | ||||||||||
- Definition
Depreciation, depletion and amortization, and valuation provisions (impairments) related to oil and gas producing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of expenses related to oil and gas producing activities. No definition available.
|
X | ||||||||||
- Definition
Exploration costs from oil and gas producing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Costs related to the impairment of oil and gas properties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Income before income taxes for oil and gas producing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Income tax expense for oil and gas producing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The results of operations for oil and gas producing activities, excluding corporate overhead and interest costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Production (lifting) costs from oil and gas producing activities, including but not limited to lease operating expense, production and ad valorem taxes, and transportation expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total revenues from oil and gas producing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Supplemental Gas and Oil Information (Unaudited) Estimated Quantities of Proved Gas and Oil Reserves (Details)
|
12 Months Ended | ||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014
MMcf
|
Dec. 31, 2013
MMcf
|
Dec. 31, 2012
MMcf
|
Dec. 31, 2011
MMcf
|
||||||||||||||||||||||
Reserve Quantities [Line Items] | |||||||||||||||||||||||||
Proved reserves balance | |||||||||||||||||||||||||
Natural Gas [Member]
|
|||||||||||||||||||||||||
Reserve Quantities [Line Items] | |||||||||||||||||||||||||
Reserves, Unit of Measure | (Bcf) | ||||||||||||||||||||||||
Proved reserves balance | 2,554,900,000 | 2,622,400,000 | 2,749,400,000 | ||||||||||||||||||||||
Extensions and discoveries | 27,100,000 | [1] | (288,300,000) | [2] | (240,600,000) | [3] | |||||||||||||||||||
Extensions and discoveries | 141,400,000 | [4] | 455,600,000 | [5] | 330,600,000 | [6] | |||||||||||||||||||
Purchase of reserves in place | 72,500,000 | [7] | 1,000,000 | 32,300,000 | [8] | ||||||||||||||||||||
Sale of reserves in place | (299,400,000) | [9] | 16,900,000 | 0 | |||||||||||||||||||||
Production | (179,300,000) | 218,900,000 | (249,300,000) | ||||||||||||||||||||||
Proved reserves balance | 2,317,200,000 | 2,554,900,000 | 2,622,400,000 | ||||||||||||||||||||||
Proved developed reserves | 1,288,400,000 | 1,406,300,000 | 1,531,700,000 | 1,538,300,000 | |||||||||||||||||||||
Proved undeveloped reserves | 1,028,800,000 | 1,148,600,000 | 1,090,700,000 | 1,211,100,000 | |||||||||||||||||||||
Oil [Member]
|
|||||||||||||||||||||||||
Reserve Quantities [Line Items] | |||||||||||||||||||||||||
Reserves, Unit of Measure | (MMbbl) | ||||||||||||||||||||||||
Proved reserves balance | 148,600,000 | 119,000,000 | 67,500,000 | ||||||||||||||||||||||
Extensions and discoveries | (4,000,000) | [1] | 1,300,000 | [2] | (1,500,000) | [3] | |||||||||||||||||||
Extensions and discoveries | 16,800,000 | [4] | 38,300,000 | [5] | 17,300,000 | [6] | |||||||||||||||||||
Purchase of reserves in place | 35,700,000 | [7] | 1,900,000 | 42,000,000 | [8] | ||||||||||||||||||||
Sale of reserves in place | (7,500,000) | [9] | 1,700,000 | 0 | |||||||||||||||||||||
Production | (17,100,000) | (10,200,000) | (6,300,000) | ||||||||||||||||||||||
Proved reserves balance | 172,500,000 | 148,600,000 | 119,000,000 | ||||||||||||||||||||||
Proved developed reserves | 99,300,000 | 71,800,000 | 47,400,000 | 33,000,000 | |||||||||||||||||||||
Proved undeveloped reserves | 73,200,000 | 76,800,000 | 100,000 | 34,600,000 | |||||||||||||||||||||
Natural Gas Liquids [Member]
|
|||||||||||||||||||||||||
Reserve Quantities [Line Items] | |||||||||||||||||||||||||
Reserves, Unit of Measure | (MMbbl) | ||||||||||||||||||||||||
Proved reserves balance | 102,600,000 | 99,900,000 | 76,600,000 | ||||||||||||||||||||||
Extensions and discoveries | 1,400,000 | [1] | (8,000,000) | [2] | 700,000 | [3] | |||||||||||||||||||
Extensions and discoveries | 8,600,000 | [4] | 16,400,000 | [5] | 23,000,000 | [6] | |||||||||||||||||||
Purchase of reserves in place | 12,300,000 | [7] | 200,000 | 4,900,000 | [8] | ||||||||||||||||||||
Sale of reserves in place | (21,500,000) | [9] | 1,100,000 | 0 | |||||||||||||||||||||
Production | (6,800,000) | (4,800,000) | (5,300,000) | ||||||||||||||||||||||
Proved reserves balance | 96,600,000 | 102,600,000 | 99,900,000 | ||||||||||||||||||||||
Proved developed reserves | 52,200,000 | 52,800,000 | 49,300,000 | 38,400,000 | |||||||||||||||||||||
Proved undeveloped reserves | 44,400,000 | 49,800,000 | 100,000 | 38,200,000 | |||||||||||||||||||||
Total Reserves Natural Gas Equivalent [Member]
|
|||||||||||||||||||||||||
Reserve Quantities [Line Items] | |||||||||||||||||||||||||
Reserves, Unit of Measure | (Bcfe) | ||||||||||||||||||||||||
Proved reserves balance | 4,061,900,000 | 3,936,100,000 | 3,613,800,000 | ||||||||||||||||||||||
Extensions and discoveries | 11,300,000 | [1] | (328,500,000) | [2] | (244,800,000) | [3] | |||||||||||||||||||
Extensions and discoveries | 294,100,000 | [4] | 783,800,000 | [5] | 572,500,000 | [6] | |||||||||||||||||||
Purchase of reserves in place | 360,700,000 | [7] | 13,400,000 | 313,800,000 | [8] | ||||||||||||||||||||
Sale of reserves in place | (473,400,000) | [9] | 33,900,000 | 0 | |||||||||||||||||||||
Production | (322,700,000) | (309,000,000) | (319,200,000) | ||||||||||||||||||||||
Proved reserves balance | 3,931,900,000 | 4,061,900,000 | 3,936,100,000 | ||||||||||||||||||||||
Proved developed reserves | 2,197,500,000 | 2,154,000,000 | 2,111,900,000 | 1,966,300,000 | |||||||||||||||||||||
Proved undeveloped reserves | 1,734,400,000 | 1,907,900,000 | 1,824,200,000 | 1,647,500,000 | |||||||||||||||||||||
|
X | ||||||||||
- Definition
Additions to proved reserves that result from (1) extension of the proved acreage of previously discovered (old) reservoirs through additional drilling in periods after discovery and (2) discovery of new fields with proved reserves or of new reservoirs of proved reserves in old fields. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net quantity of proved reserves as of the balance sheet date. Proved oil reserves are the estimated quantities of crude oil and natural gas liquids which geological and engineering data demonstrate with reasonable certainty to be recoverable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Production of proved reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Purchase of minerals in place. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Revisions represent changes in previous estimates of proved reserves, either upward or downward, resulting from new information (except for an increase in proved acreage) normally obtained from development drilling and production history or resulting from change in economic factors. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sales of minerals in place. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Net quantities of an enterprise's interests in proved developed reserves of either crude oil (including condensate and natural gas liquids), natural gas, synthetic oil and gas, or other nonrenewable natural resource that is intended to be upgraded into synthetic oil and gas as of the beginning and the end of the year. "Net" quantities of reserves include those relating to the enterprise's operating and nonoperating interests in properties. Quantities of reserves relating to royalty interests owned are included in "net" quantities if the necessary information is available to the enterprise. "Net" quantities does not include reserves relating to interests of others in properties owned by the enterprise. The unit of measure for reserve quantities is defined as "barrels" for oil and synthetic oil reserves or "cubic feet" or "cubic meters" for natural gas and synthetic gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Net quantities of an enterprise's interests in proved undeveloped reserves of either crude oil (including condensate and natural gas liquids), natural gas, synthetic oil and gas, or other renewable natural resource that is intended to be upgraded into synthetic oil and gas as of the beginning and the end of the year. "Net" quantities of reserves include those relating to the enterprise's operating and nonoperating interests in properties. Quantities of reserves relating to royalty interests owned are included in "net" quantities if the necessary information is available to the enterprise. "Net" quantities does not include reserves relating to interests of others in properties owned by the enterprise. The unit of measure for reserve quantities is defined as "barrels" for oil and synthetic oil reserves or "cubic feet" or "cubic meters" for natural gas and synthetic gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The unit of measure for reserve quantities. For example, barrels for oil reserves or cubic feet for natural gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Supplemental Gas and Oil Information (Unaudited) Average price per unit (Details)
|
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Natural Gas [Member]
|
|||
Average Sales Price and Production Costs Per Unit of Production [Line Items] | |||
12 month average first-of the month commodity price | 4.35 | 3.67 | 2.76 |
Oil [Member]
|
|||
Average Sales Price and Production Costs Per Unit of Production [Line Items] | |||
12 month average first-of the month commodity price | 94.99 | 96.94 | 94.71 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The revenues derived from sales of oil or gas in each geographic area during the reporting period divided by the number of barrels of oil produced or thousands of cubic feet of gas produced. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Supplemental Gas and Oil Information (Unaudited) Future Development Costs (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended |
---|---|
Dec. 31, 2014
|
|
Future Development Costs [Abstract] | |
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves, Future Development Costs, Next Twelve Months | $ 925.7 |
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves, Future Development Costs, Year Two | 983.7 |
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves, Future Development Costs, Year Three | $ 714.3 |
X | ||||||||||
- Definition
2013 - Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves, Future Development Costs, Next Twelve Months No definition available.
|
X | ||||||||||
- Definition
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves, Future Development Costs, Year Three No definition available.
|
X | ||||||||||
- Definition
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves, Future Development Costs, Year Two No definition available.
|
X | ||||||||||
- Details
|
Supplemental Gas and Oil Information (Unaudited) Standardized Measure Of Future Net Cash Flows (Details) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
---|---|---|---|---|
Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Abstract] | ||||
Future cash inflows | $ 28,167.3 | $ 24,805.7 | $ 18,200.2 | |
Future production costs | (9,842.1) | (8,400.3) | (5,027.2) | |
Future development costs | (3,521.3) | (4,056.7) | (3,927.3) | |
Future income tax expenses | (4,304.0) | (3,284.6) | (2,269.0) | |
Future net cash flows | 10,499.9 | 9,064.1 | 6,976.7 | |
10% annual discount for estimated timing of net cash flows | (5,159.9) | (4,680.2) | (3,942.0) | |
Standardized measure of discounted future net cash flows | $ 5,340.0 | $ 4,383.9 | $ 3,034.7 | $ 3,525.6 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of estimated future accumulated cash inflow from the sale of proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of estimated future accumulated cash outflow for costs to be incurred in developing proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of estimated future accumulated cash outflow for income tax, based on the future income less future expense derived from production and sale of proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount, after future accumulated cash outflow for development and production costs and future income tax, of estimated future accumulated cash inflow from the sale of proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of estimated future accumulated cash outflow for costs to be incurred in producing proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of discount on future accumulated cash inflow, after deducting future accumulated cash outflow for development and production costs and future income tax, from sale of proved oil and gas reserves, using a discount rate of ten percent a year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of discounted future accumulated cash inflow relating to proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Supplemental Gas and Oil Information (Unaudited) Change in Standardized Measure of Future Cash Flows (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Change in Standardized Measure of Future Cash Flows [Abstract] | |||
Beginning Balance | $ 4,383.9 | $ 3,034.7 | $ 3,525.6 |
Sales of gas, oil and NGL produced during the period, net of production costs | (1,639.0) | (1,317.9) | (892.3) |
Net change in sales prices and in production (lifting) costs related to future production | 726.6 | 1,236.3 | (2,083.5) |
Net change due to extensions, discoveries and improved recovery | 979.9 | 2,230.7 | 948.5 |
Net change due to revisions of quantity estimates | 35.9 | (709.6) | (387.8) |
Changes due to purchases of reserves in place | 695.3 | 36.8 | 831.4 |
Changes due to sales of reserves in place | (1,153.7) | (73.2) | 0 |
Previously estimated development costs incurred during the period | 867.5 | 722.7 | 513.0 |
Changes in estimated future development costs | 409.6 | (596.5) | (209.3) |
Accretion of discount | 597.3 | 402.2 | 499.4 |
Net change in income taxes | (600.3) | (601.7) | 273.6 |
Other | 37.0 | 19.4 | 16.1 |
Net change | 956.1 | 1,349.2 | (490.9) |
Ending Balance | $ 5,340.0 | $ 4,383.9 | $ 3,034.7 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of passage of time. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of decrease in standardized measure of discounted future net cash flow as a result of sales of minerals in place. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of extensions, discoveries and improved recovery of proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of change in estimated future development costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of change in the estimated future income tax on future pretax net cash flows related to the entity's proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of increase in standardized measure of discounted future net cash flow as a result of purchases of minerals in place. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of change in sales and transfer prices and in production (lifting) costs related to future production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of (increase) decrease in standardized measure of discounted future net cash flow as a result of previously estimated development costs incurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of revisions of estimated quantity of oil and gas in proved reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of (increase) decrease in standardized measure of discounted future net cash flow as a result of sales and transfers of oil and gas produced. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of changes from other sources. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of increase (decrease) in standardized measure of discounted future net cash flow relating to proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of discounted future accumulated cash inflow relating to proved oil and gas reserves. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Schedule of Valuation and Qualifying Accounts (Details) (Allowance for Doubtful Accounts [Member], USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
Allowance for Doubtful Accounts [Member]
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Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Valuation Allowances and Reserves, Balance | $ 2.2 | $ 2.4 | $ 1.3 |
Bad Debt Expense | 2.1 | 0.1 | 1.3 |
Valuation Allowances and Reserves, Balance | 2.2 | 2.4 | |
Valuation Allowances and Reserves, Deductions | (0.3) | (0.3) | (0.2) |
Allowance for Doubtful Accounts Receivable | $ 4.6 | $ 2.2 | $ 2.4 |
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- Definition
For an unclassified balance sheet, a valuation allowance for receivables due a company that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of the deductions in a given period to allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs, representing receivables written off as uncollectible and portions of the reserves utilized, respectively. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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