QEP Resources, Inc. (QEP) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
1050 17TH STREET, SUITE 800 DENVER, CO 80265 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 1311 - Crude Petroleum and Natural Gas (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 166,300 | 443,800 | 376,100 | 1,160,100 | |||||
| Cash and cash equivalents | 166,300 | 443,800 | 376,100 | 1,160,100 | |||||
| Receivables | 145,800 | 180,200 | 147,000 | 174,300 | 365,500 | 441,900 | |||
| Inventory, net of allowances, customer advances and progress billings | 3,600 | 10,400 | 13,300 | 13,700 | |||||
| Inventory | 3,600 | 10,400 | 13,300 | 13,700 | |||||
| Prepaid expense | 11,400 | 12,700 | 10,700 | ||||||
| Derivative instruments and hedges, assets | 1,500 | 87,500 | 3,400 | 146,800 | 339,000 | ||||
| Other current assets | 200 | 200 | 700 | ||||||
| Other undisclosed current assets | 11,600 | 30,100 | 46,800 | ||||||
| Total current assets: | 325,200 | 280,600 | 165,400 | 640,100 | 931,800 | 2,001,500 | |||
| Noncurrent Assets | |||||||||
| Inventory, Noncurrent | 54,300 | ||||||||
| Operating lease, right-of-use asset | ✕ | ✕ | ✕ | ✕ | ✕ | ||||
| Property, plant and equipment | 5,042,300 | 5,059,500 | 7,157,000 | 6,539,000 | 7,384,600 | 7,231,200 | |||
| Oil and gas property, successful effort method | 6,950,900 | ||||||||
| Derivative instruments and hedges | 200 | 35,400 | 100 | 23,200 | 9,900 | ||||
| Other noncurrent assets | 53,300 | 49,600 | 72,300 | 66,300 | 85,900 | 44,200 | |||
| Other undisclosed noncurrent assets | 56,800 | 692,700 | (7,005,200) | ||||||
| Total noncurrent assets: | 5,152,600 | 5,837,200 | 7,229,400 | 6,605,300 | 7,493,700 | 7,285,300 | |||
| TOTAL ASSETS: | 5,477,800 | 6,117,800 | 7,394,800 | 7,245,400 | 8,425,500 | 9,286,800 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 227,200 | 258,100 | 372,100 | 269,700 | 351,700 | 575,400 | |||
| Interest and dividends payable | 31,000 | 32,400 | 26,000 | 32,900 | 36,400 | 36,400 | |||
| Taxes payable | 18,900 | 24,100 | 31,600 | 30,100 | 46,100 | 593,800 | |||
| Other undisclosed accounts payable and accrued liabilities | 177,300 | 201,600 | 314,500 | 206,700 | 269,200 | (54,800) | |||
| Debt | 18,300 | 14,600 | 44,000 | 12,300 | 206,600 | 54,700 | |||
| Derivative instruments and hedges, liabilities | 18,700 | 103,600 | 169,800 | 800 | |||||
| Asset retirement obligation | 6,000 | 5,100 | 7,500 | 5,800 | 1,900 | 1,300 | |||
| Deferred tax liabilities | ✕ | ✕ | 84,500 | ||||||
| Other undisclosed current liabilities | 67,900 | 56,500 | 50,100 | 57,200 | 80,600 | 628,900 | |||
| Total current liabilities: | 338,100 | 334,300 | 577,300 | 514,800 | 641,600 | 1,344,800 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 2,015,600 | 2,507,100 | 2,160,800 | 2,020,900 | 2,042,000 | 2,218,100 | |||
| Long-term debt, excluding current maturities | 2,015,600 | 2,507,100 | 2,160,800 | 2,020,900 | 2,042,000 | 2,218,100 | |||
| Liabilities, other than long-term debt | 418,700 | 464,200 | 858,800 | 1,207,000 | 1,794,000 | 1,648,600 | |||
| Deferred compensation liability, classified | |||||||||
| Asset retirement obligations | 94,900 | 96,900 | 206,600 | 225,800 | 204,900 | 193,800 | |||
| Deferred tax liabilities, net | ✕ | 274,500 | 269,200 | 518,000 | 825,900 | 1,479,800 | 1,362,700 | ||
| Other liabilities | 48,800 | 97,400 | 102,400 | 123,300 | 105,300 | 92,100 | |||
| Operating lease, liability | ✕ | ✕ | ✕ | ✕ | ✕ | ||||
| Derivative instruments and hedges, liabilities | 500 | 700 | 31,800 | 32,000 | 4,000 | ||||
| Total noncurrent liabilities: | 2,434,300 | 2,971,300 | 3,019,600 | 3,227,900 | 3,836,000 | 3,866,700 | |||
| Total liabilities: | 2,772,400 | 3,305,600 | 3,596,900 | 3,742,700 | 4,477,600 | 5,211,500 | |||
| Equity | |||||||||
| Equity, attributable to parent | 2,660,600 | 2,750,900 | 3,797,900 | 3,502,700 | 3,947,900 | 4,075,300 | |||
| Common stock | 2,400 | 2,400 | 2,400 | 2,400 | 1,800 | 1,800 | |||
| Treasury stock, value | (55,400) | (45,600) | (34,200) | (22,900) | (14,600) | (25,400) | |||
| Additional paid in capital | 1,456,500 | 1,431,900 | 1,398,200 | 1,366,600 | 554,800 | 535,300 | |||
| Accumulated other comprehensive loss | (12,500) | (14,300) | (11,100) | (16,700) | (12,400) | (24,300) | |||
| Retained earnings | 1,269,600 | 1,376,500 | 2,442,600 | 2,173,300 | 3,418,300 | 3,587,900 | |||
| Total equity: | 2,660,600 | 2,750,900 | 3,797,900 | 3,502,700 | 3,947,900 | 4,075,300 | |||
| Other undisclosed liabilities and equity | 44,800 | 61,300 | |||||||
| TOTAL LIABILITIES AND EQUITY: | 5,477,800 | 6,117,800 | 7,394,800 | 7,245,400 | 8,425,500 | 9,286,800 | |||
Income Statement (P&L) ($ in thousands)
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,206,200 | 1,932,600 | 1,622,900 | 1,377,100 | 2,018,600 | 3,433,000 | ||
| Revenue, net | ✕ | ✕ | 1,932,600 | 1,622,900 | 1,377,100 | 2,018,600 | 3,414,300 | |
| Cost of revenue (Cost of Goods and Services Sold) | (117,600) | (245,300) | (105,500) | (291,300) | (1,555,600) | |||
| Gross profit: | 1,206,200 | 1,815,000 | 1,377,600 | 1,271,600 | 1,727,300 | 1,877,400 | ||
| Operating expenses | (1,052,600) | (3,218,000) | (1,734,900) | (2,984,700) | (2,400,800) | (4,113,000) | ||
| Other operating expense, net (Other Expenses) | (1,153,100) | |||||||
| Other undisclosed operating income | 3,900 | 142,600 | 458,800 | 110,500 | 295,900 | 2,541,400 | ||
| Operating income (loss): | 157,500 | (1,260,400) | 101,500 | (1,602,600) | (377,600) | (847,300) | ||
| Nonoperating income (expense) (Investment Income, Nonoperating) | (173,400) | 90,400 | 363,300 | |||||
| Interest and debt expense | (129,100) | (149,400) | (170,500) | (143,200) | (145,600) | (171,100) | ||
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | 26,100 | (207,400) | 280,200 | 13,100 | ||||
| Loss from continuing operations before equity method investments, income taxes: | (145,000) | (1,319,400) | (42,900) | (1,953,200) | (243,000) | (642,000) | ||
| Income from equity method investments | 300 | |||||||
| Other undisclosed loss from continuing operations before income taxes | (300) | |||||||
| Loss from continuing operations before income taxes: | (145,000) | (1,319,400) | (42,900) | (1,953,200) | (243,000) | (642,000) | ||
| Income tax benefit | 43,000 | 317,400 | 312,200 | 708,200 | 93,600 | 232,500 | ||
| Income (loss) from continuing operations: | (102,000) | (1,002,000) | 269,300 | (1,245,000) | (149,400) | (409,500) | ||
| Income (loss) before gain (loss) on sale of properties: | (102,000) | (1,002,000) | 269,300 | (1,245,000) | (149,400) | 784,400 | ||
| Income from discontinued operations | 1,193,900 | |||||||
| Net income (loss): | (102,000) | (1,002,000) | 269,300 | (1,245,000) | (149,400) | 784,400 | ||
| Net loss attributable to noncontrolling interest | (21,600) | |||||||
| Other undisclosed net income (loss) attributable to parent | 4,700 | (9,600) | 21,600 | |||||
| Net income (loss) available to common stockholders, diluted: | (97,300) | (1,011,600) | 269,300 | (1,245,000) | (149,400) | 784,400 | ||
Comprehensive Income ($ in thousands)
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (102,000) | (1,002,000) | 269,300 | (1,245,000) | (149,400) | 784,400 | ||
| Other comprehensive income (loss) | 1,800 | (3,200) | 5,600 | (4,300) | 11,900 | 2,200 | ||
| Comprehensive income (loss): | (100,200) | (1,005,200) | 274,900 | (1,249,300) | (137,500) | 786,600 | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (21,600) | |||||||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 4,700 | (9,600) | 21,600 | |||||
| Comprehensive income (loss), net of tax, attributable to parent: | (95,500) | (1,014,800) | 274,900 | (1,249,300) | (137,500) | 786,600 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.