XML 119 R66.htm IDEA: XBRL DOCUMENT v2.4.0.8
Investment In BBEP (Operations Statement) (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
BBEP [Member]
Business Acquisition [Line Items]                        
Revenue $ 114,246 $ 153,116 $ 175,497 $ 118,703 $ 223,966 $ 118,188 $ 194,018 $ 172,866 $ 561,562 $ 709,038 $ 943,623 $ 425,386 [1]
Operating expense                 436,246 3,215,896 821,019 313,388
Operating income (loss) 13,575 [2] 60,049 [3] 394,894 [4] (3,874) (468,213) [5] (576,551) [6] (1,153,012) [7] (267,985) [8] 464,644 (2,465,761) 122,604 111,998
Interest and other                       40,759 [9]
Income tax (benefit) expense                 14,550 (295,570) 57,863 1,070
Noncontrolling interests                       183
Net income (loss) attributable to Quicksilver $ (31,775) $ 10,577 $ 242,523 $ (59,707) $ (548,499) [5] $ (790,520) [6] $ (802,022) $ (211,565) $ 161,618 $ (2,352,606) $ 90,046 $ 69,986
[1] For the twelve months ended September 30, 2011, unrealized gains of $24.0 million on commodity derivatives were recognized.
[2] Operating income for the fourth quarter of 2013 includes a decrease of $5.9 million to correct for immaterial items which pertain to prior 2013 quarters. These items include an adjustment to non-cash expense to settle litigation recognized in the first quarter of 2013 of $3.0 million, non-cash decrease in the gain related to the Tokyo Gas Transaction of $1.7 million arising from a change in the amount of surface real estate conveyed to TGBR, increase in the amortization of deferred financing costs and original issue discount of $0.8 million and strategic transaction fees of $0.5 million arising in the second quarter of 2013.
[3] Operating income for the third quarter of 2013 includes an increase of $8.2 million to correct for immaterial items which pertain to earlier quarters in 2013, comprised of an increase to the gain related to the Tokyo Gas Transaction of $7.8 million arising from a change to the amount of unevaluated properties allocated to TGBR
[4] Operating income for the second quarter of 2013 includes gains of $333.2 million related to the Tokyo Gas Transaction which was subsequently adjusted in later quarters to be a gain of $339.3 million. The period also includes an immaterial correction of $3.6 million for equity-based compensation granted to retirement-eligible employees whose awards required no future service at the time of grant but which expense was being recognized over multiple periods. The impact to the first quarter of 2013 expense was $1.2 million and the impact to 2012 and prior years was $2.4 million.
[5] Operating loss for the fourth quarter of 2012 includes charges for impairment of $451.5 million and $102.8 million for our U.S. and Canadian oil and gas properties, respectively. Operating loss also includes a $2.9 million impairment charge related to non-oil and gas properties. Net loss includes a valuation allowance for Canada of $61.3 million.
[6] Operating loss for the third quarter of 2012 includes charges for impairment of $479.9 million and $66.3 million for our U.S. and Canadian oil and gas properties, respectively. Operating loss also includes a $4.9 million impairment charge for other property and equipment in Colorado. Net loss includes a valuation allowance for the U.S. of
[7] Operating loss for the second quarter of 2012 includes charges for impairment of $1,042.7 million and $157.0 million for our U.S. and Canadian oil and gas properties, respectively.
[8] Operating loss for the first quarter of 2012 includes charges for impairment of $178.0 million and $139.9 million for our U.S. and Canadian oil and gas properties, respectively.
[9] The twelve months ended September 30, 2011 included $3.3 million for unrealized gains on interest rate swaps.