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font-family: times new roman; font-size: 10pt;">&#160;</font></td><td valign="bottom" width="9%" style="text-align: right;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td><td nowrap="nowrap" valign="bottom" width="1%" style="text-align: left;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td><td align="right" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td><td valign="bottom" width="1%" style="text-align: left;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td><td valign="bottom" width="9%" style="text-align: right;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td><td nowrap="nowrap" valign="bottom" width="1%" style="text-align: left;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td></tr><tr bgcolor="#cceeff"><td align="left" valign="bottom" width="76%"><div align="left" style="text-indent: -9pt; 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font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td><td valign="bottom" width="1%" style="border-bottom: black 2px solid; text-align: left;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td><td valign="bottom" width="9%" style="border-bottom: black 2px solid; text-align: right;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">132.3</font></td><td nowrap="nowrap" valign="bottom" width="1%" style="text-align: left; padding-bottom: 2px;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td><td align="right" valign="bottom" width="1%" style="padding-bottom: 2px;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td><td valign="bottom" width="1%" style="border-bottom: black 2px solid; text-align: left;"><font style="display: inline; font-family: times new roman; 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font-family: times new roman; font-size: 10pt;">&#160;</font></td><td valign="bottom" width="9%" style="text-align: right;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td><td nowrap="nowrap" valign="bottom" width="1%" style="text-align: left;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td><td align="right" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td><td valign="bottom" width="1%" style="text-align: left;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td><td valign="bottom" width="9%" style="text-align: right;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td><td nowrap="nowrap" valign="bottom" width="1%" style="text-align: left;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td></tr><tr bgcolor="white"><td align="left" valign="bottom" width="76%"><div align="left" style="text-indent: -9pt; 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font-family: times new roman; font-size: 10pt;">&#160;</font></td><td align="right" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td><td valign="bottom" width="1%" style="text-align: left;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td><td valign="bottom" width="9%" style="text-align: right;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td><td nowrap="nowrap" valign="bottom" width="1%" style="text-align: left;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td></tr><tr bgcolor="#cceeff"><td align="left" valign="bottom" width="76%"><div align="left" style="text-indent: -9pt; display: block; margin-left: 9pt; margin-right: 0pt;"><font style="font-style: italic; display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Net income attributable to QEP</font></div></td><td align="right" valign="bottom" width="1%"><font style="display: inline; 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font-family: times new roman; font-size: 10pt;">%</font></td></tr></table></div><div style="text-indent: 0pt; display: block;"><br /></div></div> 1 2 2 <div><div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: Times New Roman; font-size: 10pt; font-weight: bold;">New accounting pronouncements</font></div><div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div><div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;">In December of 2011, the FASB issued ASU 2011-11, which enhances disclosure requirements regarding an entity's financial instruments and derivative instruments that are offset or subject to a master netting arrangement. This information about offsetting and related netting arrangements will enable users of financial statements to understand the effect of those arrangements on the entity's financial position, including the effect of rights of setoff. The amendments are required for annual reporting periods beginning after January 1, 2013, and interim periods within those annual periods. QEP is evaluating the impact of this ASU on its disclosure requirements.</font></div><div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div></div> 579425 32.85 0 0.0026 2012 2012 2012 2012 2013 2013 2012 2012 2013 2012 2012 2012 2012 2012 2013 2012 58600000 58600000 29400000 29400000 312200000 297500000 1510800000 1463600000 In addition to the revision described above, QEP Field Services NGL sales of $28.6 million in the first quarter of 2011 have been reclassified from "Gathering, processing and other" into "NGL sales" in the as reported column to be consistent with current period presentation. QEP reported NGL sales of $17.2 million and Gathering, processing and other of $97.9 million in its first quarter 2011 Form 10-Q. The reclassification is all within Revenues and has no effect on income from continuing operations, net income or earnings per share. Revenues for the three months ended March 31, 2011 have been recast to reflect QEP's revised reporting of its transportation and handling costs. See Note 2 "Basis of Presentation of Interim Consolidated Financial Statements" for additional information. In addition, revenues for the three months ended March 31, 2011 reflect the impact of QEP's settled derivative contracts which during the three months ended March 31, 2012 are reflected below operating income. See Note 7 "Derivative Contracts" for detailed information on derivative contract settlements in the first quarter of 2011. Operating (loss) income in the first quarter of 2012 excludes the impact of realized commodity derivative contract settlements. During the first quarter of 2012 realized gains and losses from realized commodity derivative contract settlements were included below operating income. Conversely, under hedge accounting, realized gains and losses from realized commodity derivative contract settlements were included in revenues and operating income during the first quarter of 2011. Net income attributable to QEP in the first quarter of 2012 includes the impact of unrealized gains and losses from changes in the fair value of the commodity derivative contract. Conversely, under hedge accounting, unrealized gains and losses from changes in the fair value were deferred in accumulated other comprehensive income during the first quarter of 2011. Presented net of income tax benefit of $27.8 million and $28.3 million during the three months ended March 31, 2012 and 2011, respectively. Presented net of income tax expense of $0.5 million during the three months ended March 31, 2012. Presented net of income tax expense of $0.1 million during the three months ended March 31, 2012.