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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
REVENUES      
Natural gas sales $ 1,239.1 $ 1,205.3 $ 1,187.2
Oil sales 324.2 198.1 141.3
NGL sales 129.7 47.9 22.5
Gathering, processing and other 380.9 251.3 218.4
Purchased gas and oil sales 1,085.3 598.0 441.8
Total Revenues 3,159.2 [1] 2,300.6 [1] 2,011.2
OPERATING EXPENSES      
Purchased gas and oil expense 1,077.1 589.3 427.8
Lease operating expense 145.2 125.0 125.5
Natural gas, oil and NGL transportation and other handling costs 102.2 54.2 38.7
Gathering, processing and other 107.3 83.2 76.2
General and administrative 123.2 107.2 91.7
Separation costs 0 13.5 0
Production and property taxes 105.4 82.5 62.9
Depreciation, depletion and amortization 765.4 643.4 559.1
Exploration expenses 10.5 23.0 25.0
Abandonment and impairment 218.4 46.1 20.3
Total Operating Expenses 2,654.7 1,767.4 1,427.2
Net gain from asset sales 1.4 12.1 1.5
OPERATING INCOME 505.9 545.3 585.5
Interest and other income (loss) 4.1 2.3 4.5
Income from unconsolidated affiliates 5.5 3.0 2.7
Unrealized and realized loss on basis-only swaps 0 0 (189.6)
Loss from early extinguishment of debt (0.7) (13.3) 0
Interest expense (90.0) (84.4) (70.1)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 424.8 452.9 333.0
Income taxes (154.4) (167.0) (117.6)
INCOME FROM CONTINUING OPERATIONS 270.4 285.9 215.4
Discontinued operations, net of income tax 0 43.2 80.7
NET INCOME 270.4 329.1 296.1
Net income attributable to noncontrolling interest (3.2) (2.9) (2.6)
NET INCOME ATTRIBUTABLE TO QEP $ 267.2 $ 326.2 $ 293.5
Basic from continuing operations (in dollars per share) $ 1.51 $ 1.61 $ 1.23
Basic from discontinued operations (in dollars per share) $ 0 $ 0.25 $ 0.46
Basic total (in dollars per share) $ 1.51 $ 1.86 $ 1.69
Diluted from continuing operations (in dollars per share) $ 1.50 $ 1.60 $ 1.21
Diluted from discontinued operations (in dollars per share) $ 0 $ 0.24 $ 0.46
Diluted total (in dollars per share) $ 1.50 $ 1.84 $ 1.67
Used in basic calculation 176.5 175.3 174.1
Used in diluted calculation 178.4 177.3 176.3
[1] During the year ended December 31, 2011, QEP revised its reporting of transportation and handling costs which have been recast on the Consolidated Income Statement from revenues to "Natural gas, oil and NGL transportation and other handling costs" for all periods presented. See Note 1, "Summary of Significant Accounting Policies" for additional information. The following table presents prior periods presentation of revenues as previously disclosed: First Quarter Second Quarter Third Quarter Fourth Quarter Year 2011 $ 596.2 $ 784.1 $ 852.4 n/a n/a 2010 580.2 529.6 564.6 572.0 2,246.4