2015Annual Report.pdf

(lueszn RFC E I VED
2016 APR lB AH 9: 35
(luost.r Gas Company
333 South State Street
PO Box 45360
Salt Lake City, UT 84145-0360
Fax [phone]
Logal Dopartmont
i .""j;ri i'..,,; iJilLlC
I I I i r I I :ir, rif r)h4l tst 0H
VIA FEDERAL EXPRESS
Ms. Terri Carlock
Idaho Public Utilities Commission
472West Washington
P.O. Box 83720
Boise,Idaho 83702
Re; Questar Gas Company's 2015 Annual Report
Dear Ms. Carlock:
Enclosed are three originals of the Gas Utilities Annual Report for 2015. This is
the report format utilized by the State of Utah for reporting annual financial results for the
utility. We are providing the same report to you to meet the State of Idaho's
requirements. You will also find a copy of Questar Gas Company's internal financial
report for 2015. We trust that this information will be adequate in fulfilling the
Commission' s requirements.
JNC/sj
Enclosures
Very truly yours,
,,) t,,lr"4l^(\ow
Jenniffer Nelson Clark . Senior Corporate Counsel Tel [phone] Jenniffer. [e-mail]
Annual Report
(RGS)
QST. G
p
rnC)rnerfl(,
GAS UTILITIES
ANNUAL REPORT
FJ#
.:F
?*
@
Questar Gas Company
Utah Business Entity Number: 558729-0142
TO THE
PUBLIC SERVICE COMMISSION
OF UTAH
For Galendar Year
2015
(Rev. Jan/07)
Questar Gas CalendarYear 2015
ATTESTATION / CERTIFICATION
OF
RESPONSIBILIry
I certify that I have examined the information contained in this report submitted to the Utah
Division of Public Utilities, and that, to the best of my knowledge, information, and belief, all
statements of fact contained in this report are true and represent an accurate statement of the
affairs of the respondent company as of the date shown below.
Signature:
Print Name:
Title:
Phone Number:
Fax Number:
Vice-President and Controller
.801\324-2403 ExGnsion:
Email:dave. curtis@questar. com
Pleas send one completed hard copy and email one copy to the following:
Hard copy to:
Utah Division of Public Utilities
Heber Wells Building, 4th Floor
160 East 300 South
Salt Lake City, UT 84111-6751
Email copy to: (using State approved e-filing protocol.)
[e-mail]
April 15,2016
Annual Report
(RGS)(Rev. Jan/07)
General Gompany & Contact lnformation
Company Name: Questar Gas Company
DBA Name (if different):
FKA Name (if different):
Address: 333 South State
City: Salt Lake City State: UT Zip: 84145
Phone Number: [phone] Fax Number:
(800) Number:
Princlple Business Address: 333 South State
City: Salt Lake City State: UT Zip: 84145
Gorporate Book Address: 333 South State
City: Salt Lake City State: UT Zip: 84145-0360
Report Contact Person
Name: Connie Marshall Title: Director - Accountinq
Phone Number: [phone] Extension:
Fax Number:Email: [e-mail]
Corporate Book Custodian
Name: Julie Wray Title: CorporateSecretary
Phone Number: [phone] Extension:
Email: [e-mail] Number:
-1-
Gontact lnformation
Attorney:
Name:
Firm Name:
Address:
City:
Phone Number:
(800) Number:
Colleen Bell Title: General Counsel
Questar Corporation
333 South State
Salt Lake Citu State: UT 84145
[phone] Extension:
Fax Number:
Accountant:
Name:
Firm Name:
Address:
City:
Phone Number:
(800) Number:
Title:
zip:
Extension:
Fax Number:
Other Gontacts:
Name:
Phone Number:
Fax Number:
Name:
Phone Number:
Fax Number:
Name:
Phone Number:
Fax Number:
Extension:
E-mai!:
Title:
Extension:
E-mail:
Title:
Extension:
E-mail:
OFFICERS AND DIRECTORS
Report below the officers and directors of respondent at the end of the year. lf there were any changes
during the year, show name, title, and address of previous officer or director and date of change.
SLC, UT 84145
Number of board of directors meetings held during year.................
Number of directors required to constitute a quorum.........
Total amount of directors' fees paid during year......
S State SLC, UT 84145
S State SLC, UT 84145
S State SLC, Uf 84145
S State SLC, UT 84145
333 S State SLC. UT 84145
333 S State SLC. UT 84145
SLC, UT 84145 EVP & CFO
SLC. UT 84145
333 S State SLC, UT 84145
333 S State SLC, UT 84145
333 S State SLC, UT 84145
STOCKHOLDERS
Report below the names and addresses of the stockholders who, at the end of the year, owned or
held directly or indirectly 5 percent or more of the voting securities of the respondent.
Name Address
SLC, UT 84145
Total shares represented by above..........
Total number of shares at end of year...
Total number of stockholders at end of year
1.
IMPORTANT CHANGES DURING THE YEAR
Give particulars concernlng the following matters. Make the statements explicit and precise.
Each inquiry must be answered. Only use "none" or "not applicable" if it conectly states the fact.
Important additions or changes in franchise rights, including the actual consideration, if any,
oiven therefore-
kr March 2015, Questar Gas purchased Eagle Mountain City's municipal natural gas system for
1.4 million. At the time of acquisition, the city had over 6,500 natr:ral gas customers.
Gas also paid $50.00 for a five year franchise right in the city.
-4-
COMPARATIVE BALANCE SHEETS
(Utah Operations Financial Statement in Accordance with GAAP)
Certificated entity only. Do not consolidate with other affiliated entities.
Account
Balance at
beginning
of vear
Balance at
end of
vear
1 Cash and cash equivalents
2 Federal income taxes receivable
3 Accounts and notes receivable
4 Unbilled gas accounts receivable
5 Deferred income taxes - current
6 Gas stored underground
7 Materials and supplies
8 Current regulatory assets
9 Prepaid expenses and other
10 Purchased gas adjustment
1 1 Total current assets
12 Construction Work in Progress
13 Property, plant and equipment
14 Less allowances for depreciation
15 Net property, plant and equipment
16 Other long-term assets
17 Goodwill
18 Regulatory assets
19 Other long-term assets
20 TotalAssets
21 Notes payable to affiliates
22 Federal income taxes payable
23 Accounts payable and accrued expenses
24 Customer credit balance
25 Current regulatory liabilities
26 lnterest payable
27 Other taxes payable
28 Deferred income taxes - current
29 Purchased gas adjustment
30 Total current liabilities
31 Long-term debt, less current portion
32 Other liabilities
33 Asset retirement obligation
34 Deferred investment tax credits
35 Deferred income taxes
36 Customer contri butions-in-aid-of-construction
37 Regulatory and other noncurrent liabilities
38 Total Liabilities
39 Common stock
40 Additional paid-in capital
41 Retained earnings
42 f olal shareholder's equity
43 Total liabilities and equity
19 ,836,938
111,338,658
93,664,096
41,866,681
19,188,538
38,816,090
3,544,129
37,627,636
10,527,695
34,213,799
146,844,706
90,950,526
43,864,861
17,111,243
44,612,607
3,519,978
18.922.229
365,882,766
54,414,554
2,297,878,160
(780.284.414)
410,567,644
62,578,401
2,507,729,009
(812.185,247',,
1,572,008,300
5,652,450
21,288,541
3.596.820
1,758,122,163
5,652,45C
18,174,68C
3,293.283
1.968.428.877 2.195.810.220
119,300,000
6,390,531
179,397,509
29,394,468
12,244,458
6,765,065
7,028,303
6,320,344
273,300,000
179,243,305
34,346,357
297,836
6,765,064
11,156,983
8,490,164
366,840,678
534,500,000
453,182
2,279,063
377,463,990
29,155,903
60.913,086
513,599,709
534,500,000
278,167
1,703,302
428,170,985
23,707,099
69,31 1,189
1,371,605,902
22,974,065
265,331,469
308.517.441
1,571,270,451
22,974,065
266,715,672
334,850,032
596.822,975 624.539.769
1.968.428.877 2,195,810,220
COMPARATIVE STATEMENTS OF INCOME
(Utah Operations FinancialStatement in Accordance with GAAP)
Certificated entity only. Do not consolidate with other affiliated entities.
Account
Amount for
Preceding
Year
Amount for
Current
Year
1 Operating Revenues
2 Utility Operating Expenses:
3 Gas Purchases
4 Operating Expense
5 Maintenance Expense
6 Depreciation and Amortization
7 Taxes Other Than lncome Taxes
8 lncome Taxes
9 Income Taxes - Deferred
10 Total Utility Operating Expenses
11 Net Operating lncome
12 Other Income
13 Other Income Deductions
14 Total Other lncome and Deductions
15 lnterest Charges
Net lncome16
960,839,257
604,765,358
161,950,983
13,366,387
53,526,546
17,863,864
(8,559,860)
39.303.408
917,628,437
558,086,711
148,641,486
13,844,967
55,107,901
19,31 1 ,669
(9,090,501)
44.458.936
882,216,686
78,622,571
5,200,818
(416.140\
830,361 ,1 69
87,267,268
5,747,437
(401,196)
4,784,678
28,252,843
5,346,241
28,280,918
55.154.406 64.332.591
-6-
COMPARATIVE STATEMENTS OF CASH FLOW
(Utah Operations Financial Statement in Accordance with GAAP)
Certificated entity only. Do not consolidate with other affiliated entities.
Account
Amount for
Preceding
Year
Amount for
Current
Year
Operating Activities
Net lncome
Adjustments to reconcile net income to net cash provided
from operating activities:
Depreciation, depletion and amortization
Deferred income taxes
Shared-based compensation
Changes in operating assets and liabilities
Accounts receivable
lnventories
Prepaid expenses and other
Accounts payable and accrued expenses
Federal income taxes
Other taxes
Purchased gas adjustments
Other assets
Regulatory assets(current)
Regulatory liabilities(current)
Other liabilities
NET CASH (USED lN) PROVIDED FROM OPERATING
lnvesting Activities
Gapital expenditures
Property, plant and equipment
Proceeds from disposition of assets
NET CASH (USED tN) PROVIDED FROM INVESTING
Financing Activities
Common stock issued
Long-term debt issued, net of issue costs
Long-term debt repaid
Change in short-term debt
Dividends paid
Excess tax benefits from share-based compensation
NET CASH(USED rN) PROVTDED FROM FTNANCTNG
Change in cash and cash equivalents
Beginning cash and cash equivalents
Ending cash and cash equivatents
s5,154,406
47,751,674
45,965,577
398,152
18,250,570
(9,801,787)
(509,091)
(1,283,146)
9,157,619
(3,434,798)
(45,060,191)
(6,028,323)
(8,584,527)
8,579,415
8.112.280
64,332,591
47,561,631
52,876,815
3'19,004
(8,683,460)
(1,462,196)
24,152
(24,299,832)
(40,604,329)
4,128,680
20,246,718
3,417,398
(2,098,826)
(15,644,313)
2j33,877
1 18,667,830
(174,725,313)
414.830
102,247,910
(228,848,898)
167,292
(174,31O,484)
1,077,001
26,565
101,600,000
(36,000,000)
(228,681,6061
1,124,453
154,000,000
(38,000,000)
66,703,566
1 1 ,060,912
8,776,026
117,124,453
(e,309,24s)
19,836,938
19,836.938 10,527.695
NOTES TO FINANCIAL STATEMENTS
(Utah Operations Financial Statement in Accordance with GAAP)
Provide the notes to the flnancial statements and sign the certification below.
See Attached
QI]ESTARGAS COMPANY
NOTES ACCOMPANYING TIIE FINANCIAL STATEMENTS
The following are extracts of the notes to Questar's 2015 furancial statements which are relevant to Questar Gas
Company:
Note 1 - Summary of Significant Accounting Policies
Nature of Business
.Questar Gas Company (Questar Gas) provides retail natural gas distribution in Utah, Wyoming and Idaho.
Questar is headquartered in Salt Lake City, Utah. Shares of Questar common stock trade on the New York Stock
Exchange (I.[YSE : STR).
Use of Estimates
The preparation of financial statements and notes in conformity with GAAP requires that management formulate
estimates and assumptions that afflect the reported amounts of assets, liabilities, revenues and expenses and the
disclosure of contingent assets and liabilities. The Company also incorporates estimates of proved developed and
total proved gas and oil reserves in the calculation of depreciation, depletion and amortization rates of its gas and oil
properties. Changes in estimated quantities of the Company's reserves could impact its reported financial results as
well as disclosures regarding the quantities of proved gas and oil reserves. Actual results could differ from these
estimates.
Revenue Recognition
Questar Gas records revenues in the period that gas is delivered, including gas delivered to residential and
commercial customers but not billed as ofthe end of the accounting period. Unbilled gas deliveries are estimated for
the period from the date meters are read to the end of the month. Approximately one-half month of revenue is
estimated in any period. Gas costs and other variable costs are recorded on the same basis to ensure proper matching
of revenues and expenses. Questar Gas's tariff allows for monthly adjustments to customer bills to approximate the
effect of abnormal weather on non-gas revenues. The weather-normalization adjustment sigrrificantly reduces the
impact of weather on gas-distribution earnings. The PSCU and PSCW approved a conservation enabling tariff
(CBT) to promote energy conservation. Under the CET, Questar Gas non-gas revenues are decoupled from the
volume of gas used by customers. The tariffspecifies an allowed monthly revenue per customer, with differences to
be deferred and recovered from or refunded to customers through periodic rate adjustments. Rate
adjustments occur every six months under the CET. The adjustments amortize deferred CET amounts over a 12 -
month period. These adjustments are limited to 57o of non-gas revenues.
Questar Gas allows customers the option of paying an estimated fixed monthly bill throughout the year on a budget-
billing program. The estimated payments are adjusted to actual usage annually. Amounts collected from customers
under this program in excess ofgas deliveries are recorded on the Consolidated Balance Sheets as customer
advances. The budget-billing option does not impact revenue recognition. Questar Gas may collect revenues subject
to possible refunds and establish reserves pending final orders from regulatory agencies.
Cost of Sales
Questar Gas obtains the majority of its gas supply from Wexpro's cost-of-service production and pays Wexpro an
operator service fee based on the terms of the Wexpro agreements. Questar Gas also obtains transportation and
storage services from Questar Pipeline. During the second and third quarters of the year, a significant portion of the
natural gas from Wexpro production is injected into underground storage. This gas is withdrawn from storage as
needed during the heating season in the frst and fourth quarters. The cost ofnatural gas sold is credited with the
value of natural gas as it is injected into storage and debited as it is withdrawn from storage. The reported balance in
consolidated cost of sales may be a negative amount during the second and third quarters because of the entries to
record injection of gas into storage and the elimination of intercompany transactions.
The details of Questar's consolidated cost of sales are as follows:
Year Ended December 31,
20ts 2014 2013
(in millions)
Questar Gas
Gas purchases
Operator service fee
Transportation and storage
Gathering
Royalties
Storage (inj ection),net
Purchased-gas account adj ustment
Other
82.s s
319.0
79.2
22.1
JJ.J
(3.s)
20.5
5.0
t36.s $
349.7
79.6
21.0
60. I
(l.l)
(4s.8)
4.8
186.6
294.6
80. I
18.8
44.3
(0.8)
22.0
5.0
Total Questar Gas cost of natural gas sold
Elimination of Questar Gas cost of natural gas sold - affiliated
compenies
558.1
(3e3.s)
604.8
(423.4)
6s0.6
(370.e)
Total Questar Gas cost of natural gas sold - unaffiliated parties 164.6 181.4 279.7
Regulation
The Company applies the regulatory accounting principles to its rate-regulated businesses. Under these principles,
the Company records regulatory assets and liabilities that would not be otherwise recorded under GAAP for non-
rate-regulated entities. Regulatory assets and liabilities record probable future revenues or expenses associated with
certain charges or credits that will be recovered from or refunded to customers through the rate-making process.
Questar Gas accounts for purchased-gas costs in accordance with procedures authorized by the PSCU and the
PSCW. Purchased-gas costs that are different from those provided for in present rates are accumulated and
recovered or credited through future rate changes. Questar Gas may hedge a portion of its natural gas supply to
mitigate price fluctuations for gas-distribution customers. The regulatory commissions allow Questar Gas to record
periodic mark-to-market adjustments for commodity-price derivatives in the purchased-gas adjustment account.
Questar had a commodity-price derivative liability of $0.2 million at December 31,2015 and no commodity-price
derivative balances at December 3L,2014. See Note 72 for a description and comparison of regulatory assets and
liabilities as of December 31,2015 and2014.
Wexpro manages and produces cost-of-service reserves for gas utility affiliate Questar Gas under the terms of the
Wexpro agreements, comprehensive agreements with the states of Utah and Wyoming (see Note 11).
Questar Gas is regulated by the PSCU and the PSCW. The Idaho Public Utilities Commission has contracted with
the PSCU for rate oversight of Questar Gas operations in a small area of southeastem Idaho. Questar Pipeline is
regulated by the FERC. These regulatory agencies establish rates for the sale, storage and transportation ofnatural
gas. The regulatory agencies also regulate, among other things, the extension and enlargement or abandonment of
jurisdictional natural gas facilities. Regulation is intended to permit the recovery, through rates, of the cost of
service, including a retum on investment.
Cash and Cash Equivalents
Cash equivalents consist principally of repurchase agreements with maturities of three months or less. In almost all
cases, the repurchase agreements are highly liquid investrnents in overnight securities made through commercial
bank accounts that result in available funds the ner business day.
Notes Payable to and Notes Receivable from Questar
Notes payable to or receivable from Questar appearing in the furancial statements and discloswes of Questar Gas
represent interest bearing demand notes for cash borrowed from Questar for use in operations or loaned to Questar
until needed in operations. The funds are centrally managed by Questar. Amounts loaned to Questar earn an interest
rate that is identical to the interest rate paid by the companies for borrowings from Questar.
Property, Plant and Equipment
Property, plant and equipment balances are stated at historical cost. Maintenance and repair costs are expensed as
incurred.
Contributions in aid of construction
Customer contributions in aid of construction reduce plant unless the amounts are refundable to customers.
Contributions for main-line extensions may be refundable to customers if additional customers connect to the main-
line segment within five years. Reflrndable contributions are recorded as liabilities until reflrnded or the five -year
period expires without additional customer connections. Amounts not refunded reduce plant. Capital expenditures in
the Consolidated Statements of Cash Flows are reported net of non-refundable contributions. As a result of Questar
Gas's Utah and Wyoming general rate cases, effective March 1,2014 and March 1,2015, respectively, the Company
does not expect to record any new refundable customer conkibutions in aid of construction for Utah and Wyoming
customers.
Depreciation, depletion and amortization
Major categories offixed assets in gas distribution, transportation and storage operations are grouped together and
depreciated using a straightJine method. Gains and losses on asset disposals are recorded as adjustments in
accumulated depreciation. The Company has not capitalized future abandonment costs on a majority of its long-
lived gas distribution and transportation assets due to a lack ofa legal obligation to restore the area surrounding
abandoned assets. In these cases, the regulatory agencies have opted to leave retired facilities in the ground
undisturbed ratherthan excavate and dispose ofthe assets. Depreciationrates for Questar Gas are established
through rate proceedings.
The following represent average depreciation, depletion and amortization rates of the Company's capitalized costs:
Year Ended December
20ts
31,
2014 2013
Questar Gas distribution plant 2.60h 2.7% 2.7%
Questar Gas's depreciation rates include a component for the cost of plant removal. Accordingly, Questar Gas
recognizes the cost of plant removal as depreciation expense. The related cost of rernoval accrual is reflected as a
regulatory liability on the Questar Gas Balance Sheets (see Note l2). At the time properly, plant and equipment is
retired, removal expenses less salvage, are charged to the regulatory cost of plant removal liability.
Impairment of Long-Lived Assets
Properties are evaluated on a specific-asset basis or in groups of similar assets, as applicable. Impairment is
indicated when a triggering event occurs and the sum of the estimated undiscounted future net cash flows of an
evaluated asset is less than the asset's carrying value. If impairment is indicated, fair value is estimated using a
discounted cash flow approach that incorporates market interest rates or, if available, other market data. The amount
of impairment loss recorded, if any, is the diflerence between the fair value of the asset and the current net book
value. Cash flow estimates require forecasts and assumptions for many years into the future for a variety of factors,
including commodity prices, commodity transportation rates and operating costs.
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. Goodwill and indefiniteJived intangible assets are tested for
impairment at least once a year or when a triggering event occurs. The Company evaluates whether it is more likely
than not that the carrying value of a reporting unit is greater than its fair value using events and circumstances such
as economic conditions, industy changes, financial performance, etc. Fair value is measured using actively traded
market values of other comparable companies in the same businesses. If the fair value of the reporting unit exceeds
its carrying value then goodwill is considered not to be impaired. If the carrying value of the business unit is greater
than the fair value, an impairment of goodwill is recognized equal to the excess of the carrying amount of goodwill
over its fair value.
Capitalized Interest and Allowance for Funds Used During Construction
The Company capitalizes interest costs when applicable. The PSCU, PSCW and FERC require the capitalization of
an allowance for frurds used during construction (AFUDC) for rate-regulated plant and equipment. The Wexpro
agreements require capitalization of AFUDC on cost-of-service gas and oil development projects. Amounts recorded
in the Consolidated Statements of Income for the capitalization of AFUDC and interest costs are disclosed in the
table below:
Year Ended December 31,
2014 2013
(in millions)
AFUDC (recorded as an increase in interest and other income)
Questar Gas
Capitalized interest costs (recorded as a reduction ofinterest
expense)
Questar Gas
$
0.1 s
0.9 $
0.s $
Derivative Instruments and Hedging Activities
The Company may elect to designate a derivative instrument as a hedge of exposure to changes in fair value or cash
flows. A derivative instrument qualifies as a hedge if all of the following tests are met:
The item to be hedged exposes the Company to market risk.
The derivative reduces the risk exposure and is designated as a hedge at the inception ofthe hedging
relationship.
. At the inception ofthe hedge and throughout the hedge period, there is a high correlation between changes
in the fair value of the derivative instrument and the fair value of the underlying hedged item.
If the hedged exposure is a fair value exposure, the gain or loss on the derivative instrument is recognized in
earnings in the period of the change together with the offsetting gain or loss from the chaage in fair value of the
hedged item. If the hedged exposure is a cash flow exposure, the effective portion of the gain or loss on the
derivative instrument is reported initially as a component of accumulated other comprehensive income (loss)
(AOCI) and subsequently reclassifled into earnings when the forecasted transaction affects earnings. Any amount
excluded from the assessment of hedge effectiveness, as well as the ineffective portion of the gain or loss, is
reported currently in earnings. When a derivative instrument is designated as a cash flow hedge of a forecasted
transaction that becomes probable of not occurring, the gain or loss on the derivative is immediately reclassified into
eamings from AOCI.
Credit Risk
The Rocky Mountain region is the Company's primary market area. Exposure to credit risk may be affected by the
concentration of customers in this region 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. Loss reserves are periodically reviewed for
adequacy and may be established on a specific-case basis.
Bad debt expense associated with accounts receivable amounted to $2.1 million in 2015, $1.7 million in 2014 and
$0.2 million in 2013 . The allowance for bad debts was $2.1 million at December 31,2015 and $1.7 million at2014.
Questar Gas's retail gas operations account for a majority of the bad debt expense. Questar Gas estimates bad debt
expense as a percentage ofgeneral-service revenues with periodic adjustments. Uncollected accounts are generally
written offsix months after gas is delivered and interest is no longer accrued. Questar Gas recovers bad debt costs
related to the gas-cost portion of rates in its Utah operations though a purchased-gas adjustment to rates.
Asset Retirement Obligations
Questar records an asset retirement obligation (ARO) when there is a legal obligation associated with the retirement
of a tangible longJived asset. Questar's AROs apply primarily to abandonment costs associated with Wexpro gas
and oil wells, production facilities aad certain other properties. The Company has not capitalized future
abandonment costs on a majority of its longJived fansportation and distribution assets because the Company does
not have a legal obligation to restore the area surrounding abandoned assets. In these cases, the regulatory agencies
have opted to leave retired facilities in the ground undisturbed rather than requiring the Company to excavate and
dispose of the assets. The fair value of retirement costs is estimated by Company personnel based on abandonment
costs ofsimilar properties available to field operations and depreciated over the life ofthe related assets. Revisions
to estimates result from material changes in the expected timing or amount of cash flows associated with AROs.
Income or expense resulting from the settlement of ARO liabilities is included in net gain (loss) from asset sales on
the Consolidated Statements of Income. The ARO liability is adjusted to present value each period through an
accretion calculation using a credit-adjusted risk-free interest rate. See Note 5 for flrther discussion on AROs.
Income Taxes
Questar and its subsidiaries flle a consolidated federal income tax return. Questar Gas accounts for income taxes on
a separate return basis and record tax expenses and benefits as they are generated. Questar Gas makes payments to
or receives payments from Questar for such tax expenses or benefits as they are generated on the consolidated
income tax return. Deferred income taxes are recorded 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. Questar Gas uses the deferral method to account for investment tax credits as required by regulatory
commission. The Company records interest earned on income tax refrmds in interest and other income and records
penalties and interest charged on tax deficiencies in interest expense.
Accounting standards for income taxes speciff the accounting for uncertainry in income taxes by prescribing a
rninimum recognition threshold for a tax position to be reflected in the financial statements. If recogrrized, 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. There were no unrecognized tax benefits at the beginning or end of the years ended
December 31,2015,2014 or20l3. The 2015 federal income tax return has not been filed.
For the 2014,2015, and20l6 tax years, Questar was accepted into the IRS's Compliance Assurance Process (CAP)
Maintenance program. The CAP employs real-time resolution to improve federal tax compliance by resolving all or
most tax positions prior to filing the related tax return. Successful conclusion of the CAP allows the IRS to achieve
an acceptable level of assurance regarding the accuracy of the taxpayer's filed tax return and to eliminate or
substantially reduce the need for a traditional examination. The CAP Maintenance program is administered by the
IRS and indicates that the Company is a compliant taxpayer. The IRS has closed its review of all prior year tax
retums.
Share-Based Compensation
Questar may issue stock options, restricted shares, RSUs and performance shares to certain officers, employees and
non-employee directors under the LTSIP. The Company uses the Black-Scholes-Merton mathematical model in
estimating the fair value of stock options and the Monte Carlo simulation method in estimating the fair value of
performance shares for accounting purposes. The granting of restricted shares and RSUs results in recognition of
compensation cost measured at the grant-date market price. Questar uses an accelerated method in recognizing
share-based compensation costs with graded vesting periods. See Note 13 for further discussion on share-based
compensation.
Recent Accounting Developments
In January 2016, The Financial Accounting Standards Board (FASB) issued Accounting Standards Updates (ASU)
2016-01, Financial Instruments-Overall. The ASU was developed to enhance the reporting model for financial
instruments in order to provide users of financial statements with more decision-useful information. The update
addresses certain aspects of recognition, measurement, presentation and disclosure of financial instruments. The
update is effective for fiscal years beginning after December 15,2017 , including interim periods within those fiscal
years. The Company is currently evaluating the ASU's effect on its financial position, results of operations, cash
flows and associated disclosures.
In November 2015, the FASB issued ASU 2015-i7, Balance Sheet Classification of Deferred Tmes. The ASU
simplifies the presentation of deferred income taxes. The update requires that deferred tax liabilities and assets be
classified as noncurrent in a classified statement of financial position. The guidance will be effective for arurual
periods beginning after December 15,2016. The Company has adopted this update for the current reporting period
and has retrospectively reflected all deferred taxes as noncurrent for the periods presented in the Company's
statement of financial position, in Item 6 of Part II of this Annual Report and in the accompanyhg notes (see Note
1 s).
ln August 2015, the FASB issued ASU 2015-14. This update defers the effective date of ASU 2074-09, Revenue
from Contracts with Customers Qopic 606),wbtchthe FASB issued in May of 2014, by one year. ASU 2014-09
replaces most of the existing revenue guidance with a single set of principles, including changes in recognition and
disclosure requirements. The revised efflective date will be January 1,2018 and early adoption is permitted
beginning January 1,2017 . The new guidance must be applied retrospectively for each prior period presented or via
a cumulative effect upon the date of initial application. The Company is currently evaluating the ASU's effect on its
furancial position, results of operations or cash flows, as well as which transition approach it will take.
In July 2015, the FASB issued ASU 2015-l l,Irwentory [opic 330). The ASU states that inventory should be
measured at the lower of cost and net realizable value. The guidarce will be effective beginning January 1,2017 ard
will be applied prospectively. The Company is cunently evaluating the ASU's effect on its financial position, results
of operations and cash flows.
In May 20 15, the FASB issued ASU 2015-07 , Disclosures for Investments in Certain Entities That Calculate Net
Asset Value per Share Qopic 820). The ASU removes the requirement to categorize within the fair value hierarchy
all investments for which fair value is measured using the net asset value per share practical expedient and it
removes the requirement to make certain disclosures for all investments that are eligible to be measured at fair value
using the net asset value per share practical expedient. The guidance will be eflective beginning January 1,2016 and
early adoption is permitted. The Compaay has adopted this update for the current reporting period and has
retrospectively adjusted all periods presented within Note 14.
In April2015, the FASB issued ASU 2015-03 ,Interest - Imputation of Interest (Subtopic 835-30) . The ASU
simplifies the presentation of debt issuance costs by requiring that the debt issuance costs related to a recognized
debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability.
The guidance will be effective beginning January 1,2016 and early adoption is permitted. The new guidance must
be applied retrospectively for each prior period presented. The Company is currently evaluating the ASU's effect on
its financial position.
All dollar amounts in this Annual Report are in millions, except per-share information and where otherwise noted.
Proposed Merger with Dominion Resources
On January 31,2016, Questar Corporation, a Utah corporation, entered into an Agreement and Plan of Merger (the
"Merger Agreement"), by and among the Company, Dominion Resources, Inc., a Virginia corporation ("Parent")
and Diamond Beehive Corp., a Utah corporation and a direct wholly-owned subsidiary of Parent ("Merger Sub").
The Merger Agreement provides for the merger of Merger Sub with and into the Company on the terms and subject
to the conditions set forth in the Merger Agreement (the "Merger"), with the Company continuing as the surviving
corporation in the Merger and becoming a direct, wholly-owned subsidiary of Parent. At the effective time of the
Merger (the "Effective Time"), by virrue of the Merger and without any action on the part of the Company, Parent
or Merger Sub or any holder of any shares of common stock, no par value per share, of the Company (the "Company
Common Stock") or any shares of capital stock of Merger Sub, each share of the Company Common Stock issued
and outstanding immediately prior to the Effective Time (other than Dissenting Shares and shares of Company
Common Stock that are owned by Parent or Merger Sub or any of their respective subsidiaries, in each case
immediately prior to the Effective Time) will be converted automatically into the right to receive $25.00 in cash,
without interest.
Closing of the Merger is subject to the satisfaction or waiver of specified closing conditions, including (i) the
approval of the Merger by the holders of a majority of the outstanding shares of Company Common Stock, (ii) the
receipt of regulatory approvals required to close the Merger, including approvals from the Public Service
Commission of Utah (if required) and the Public Service Commission of Wyoming, (iii) the expiration or
termination of the applicable waiting period under the Hart-Scott-Rodino Antifust Improvements Act of 1976, (iv)
the absence of any law, statute, ordinance, code, rule, regulation, ruling, decree, judgment, injunction or order of a
governmental authority that prohibits the consummation of the Merger, and (v) other customary closing conditions,
including (a) the accuracy of each parfy's representations and warranties (subject to customary materiality
qualifiers), (b) each party's compliance in all material respects with its obligations and covenants contained in the
Merger Agreement, and (c) the absence of a material adverse effect on the Company. In addition, the obligations of
Parent and Merger Sub to consummate the Merger are subject to the required regulatory approvals not imposing or
requiring any undertakings, terms, conditions, liabilities, obligations, commitments or sanctions, or any structural or
remedial actions that constitute a Company Material Adverse Effect.
The Merger Agreement also contains customary representations, warranties and covenants of both the Company and
Parent.
These covenants include, among others, an obligation on behalf of the Company to use reasonable best efforts to
conduct its business in all material respects in the ordinary course until the Merger is consummated, subject to
certain exceptions. The Company has made certain additional customary covenants, including, among others,
subject to certain exceptions, (a) causing a meeting of the Company's shareholders to be held to consider approval
of the Merger Agreement, and (b) a customary non-solicitation covenant prohibiting the Company from soliciting,
providing non-public information or entering into discussions or negotiations concerning proposals relating to
alternative business combination transactions, except as permitted under the Merger Agreement. In addition, the
parlies are required to use reasonable best efforts to obtain any required regulatory approvals.
The Merger Agreement may be terminated by each of the Company and Parent under certain circumstances,
including if the Merger is not consummated by February 28,2011 (subject to certain extension rights, up to a
maximum of nine months, as specified in the Merger Agreement). The Merger Agreement contains certain
termination rights for both Parent and the Company, and provides that, upon termination of the Merger Agreement
under specified circumstances, Parent would be required to pay a termination fee of $154 million to the Company
(the "Parent Termination Fee") and the Company would be required to pay Parent a termination fee of $99 million
(the "Company Termination Fee"). The Company Termination Fee is payable under certain specified circumstances,
including (i) termination of the Merger Agreement by the Company in order to enter into a definitive agreement
with respect to certain business combinations, and (ii) termination of the Merger Agreement by Parent following a
withdrawal by the Company Board of its recommendation of the Merger Agreement. The Company will also be
required to pay Parent the Company Termination Fee in the event the Company signs an alternative transaction
within twelve months following the termination of the Merger Agreement under certain specified circumstances. [n
addition, upon termination of the Merger Agreement in certain specified circumstances, the Company would be
required to reimbwse Parent for certain expenses incurred by Parent and its affrliates and representatives in
connection with transaction, in an amount not to exceed $5 million. The Parent Termination Fee is payable by the
Parent in certain specified circumstances if the Merger Agreement is tenninated under certain circumstances due to
the failure to obtain certain regulatory approvals as a result of the imposition of a Burdensome Condition or the
material breach by Parent ofits obligations to obtain certain regulatory approvals.
Note 5 - Asset Retirement Obligations
Questar's consolidated AROs by line of business are sufl]marized in the table below;
December 31,
201s 2014
Questar Gas
(in millions)
0.6 $
Wexpro collects from Questar Gas aad deposits in trust certain funds related to estimated ARO costs. The funds are
recorded as other noncurrent assets on the Consolidated Balance Sheets and are used to satis! retirement
obligations as the properties are abandoned. The accounting treatment of reclamation activities associated with
AROs for properties administered under the Wexpro agreements is defined in a guideline letter between Wexpro and
the Utah Division of Public Utilities and the staff of the PSCW.
Note 6 - Fair Value Measurements
Questar complies with the accounting standards for fair value measurements and disclosures. These standards define
fair value in applying GAAP, establish a framework for measuring fair value and require disclosures about fair value
measurements. The standards establish a fair value hierarchy. Level 1 inputs are uradjusted quoted prices for
identical assets or liabilities in active markets that the Company has the ability to access at the measurement date.
Level2 inputs are inputs other than quoted prices included within Level I that are observable for the asset or
liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. The Company
had no assets or liabilities measured using Level 3 inputs at December 31,2015 or 2014. Fair value accounting
standards also apply to certain nonfinancial assets and liabilities that are measured at fair value on a nonrecurring
basis. Questar did not have any assets or liabilities measured at fair value on a nonrecurring basis :r;r2014.
Questar primarily applies the market approach for recurring fair value measurements and maximizes its use of
observable inputs and minimizes its use of unobservable inputs. Questar 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, Questar
makes assumptions in valuing its assets and liabilities, including assumptions about the risks inherent in the inputs to
the valuation technique.
Qaestar Gas
The following table discloses the carrying amount, estimated fair value and level within the fair value hierarchy of
certain financial instuments not disclosed in other notes to Questar Gas's furancial statements in this Annual Report:
0.6
Hierarchy
Level of Fair
Value
Estimates
Canying Estimated
Amount Fair Value
December 31, 2015
Carrying EstimatedAmount Fair Value
December 31,2014
Financiul assets
Cash and cash equivalents
Financial liabilities
Notes payable to Questar
Long-term debt
(in rnillions)
10.s $ 19.8 $
I
.,
10.s $
273.3
534.s
273.3
568.4
t19.3
534.5
19.8
1 19.3
607.2
The carrying amounts of cash and cash equivalents approximate fair value. The carrying amounts of notes payable to
Questar approximate fair value because of their short maturities and market-based interest rates. The fair value of
fixed-rate long-term debt is based on the discourted present value of cash flows using Questar Gas's current credit
risk-adjusted borrowing rates.
Note 8 - Debt
The Company has revolving credit facilities with various banks to provide back-up credit liquidity support for its
commercial paper program. Credit commitments under the revolving credit facilities totaled $500 million under the
multiyear credit facility and $250 million under the 364-day facility at December 31,2015, with no amounts
borrowed. These revolving credit facilities have interest-rate options generally below the prime interest rate and
carry commitment fees on the unused balance. A covenant associated with the revolving credit facilities stipulates
that consolidated funded debt cannot exceed 70oZ of consolidated capitalization. The Company was in compliance
with this covenant at December 3l , 2015 . These credit facilities expire upon a change of control such as the
proposed Merger with Dominion Resources. However, the Company has amended its credit facilities to extend
through the closing of the proposed Merger with Dominion Resources.
Questar centrally manages cash. Questar makes loans to Questar Gas under a short-term borrowing arrangement.
The interest rate paid on amounts borrowed is identical to the rate eamed on amounts loaned under the arrangement.
The rate is adjusted monthly based on prevailing short-term market interest rates.
The following table details the notes payable to Questar from Questar Gas and the associated interest rates:
December 31,
2015 20t4
Questar Gas
Notes payable to Questar
Interest rate at end ofyear
(in millions)
273.3 $
0.35Yo
119.3
0.25%
All short- and long-term debt and the revolving credit facilities are unsecured obligations and rark equally with all
other unsecured liabilities. The terms of the Questar Corporation and Questar Gas long-term debt obligations do not
have dividend-payment restrictions.
The details of long-term debt are as follows:
December 31,
2015 20t4
(in millions)
Questar Gas
5.3 lYo and 6.85% Medium-term Notes due 2017 and 2018
6.30% Notes due 2018
2.98% Notes due 2024
3.28%Notes due 2027
7.20% Notes due 2038
4.78%Notes due 2043
4.83%Notes due 2048
84.5
50.0
40.0
110.0
100.0
90.0
60-0
84.5
50.0
40.0
110.0
100.0
90.0
60.0
Total Questar Gas long-term debt 534.5 534.5
The aggregate maturities of Questar Gas long-term debt for the next five years are as follows:
Questar
Gas
Years Ending December 31,
2016
2017
2018
20t9
2020
Note9-IncomeTaxes
(in millions)
$
14.5
120.0
Questar Gas
Details of Questar Gas's income tax expense and deferred income taxes are provided in the following tables. The
components of income tax expense were as follows:
Year Ended December 31,
201s 2014 20t3
Federal
Current
(in millions)
(11.e) $(16.0) $6.0
Deferred
State
Current
Deferred
Deferred invesbnent tax credit recopized
48.8
(2.0)
4.2
(0.2)
42.4
(1.e)
3.6
(0.2)
23.5
0.6
2.0
(0.2)
Total income tax expense 34.8 S 32.0 $31.9
The difflerence between the statutory federal income tax rate and Questar Gas's effective income tax rate is explained
as follows:
Year Ended December 31,
2015 2014 2013
Federal income taxes statutory rate
lncrease (decrease) in rate as a result of:
State income taxes, net of federal income tax benefit
Amortization of investment tax credits related to rate-regulated
assets
Other
35.0 0
1.4
(0.2)
(1.1)
1.3
(0.2)
0.6
2.1
(0.3)
0.9
35.O o/o 35.0 %
Ef[ective income tax rate 35.1oh 36.1%37.7 Yo
Significant components of Questar Gas's deferred income taxes were as follows:
December 31,
2015 2014
(in millions)
Deferred income taxes - noncurrent
D eferred tax liabilities
Proper[y, plant and equipment
Employee benefits
Other
403.0 $
28.0
0.6
354.4
23.5
0.5
Deferred tax liabilities - noncurrent
Defened tax assets
Deferred compensation
431.6
0.9
378.4
0.9
Deferred tax assets - noncurrent 0.90.9
Net deferred income tax liability - noncurrent 430.7 $377.5
Deferred income taxes - current
Deferred tax assets - current
Deferred tax liabilities - cru:rent
2.s $
8.5
3.6
9.9
Net deferred income tax liability - current 6.0 $6.3
Note l0 - Contingencies, Commitments and Leases
Contingencies
Questar and each of its subsidiaries are involved in various commercial, environmental, and regulatory claims.
Litigation and other legal proceedings arise in the ordinary course ofbusiness. Except as stated below concerning
the QEP lawsuit, management does not believe any litigation or other legal proceedings individually or in the
ag$egate will have a material adverse effect on Questar's or Questar Gas's financial position, results of operations or
cash flows.
A liability is recorded for a loss ssnlingenc) when its occurrence is probable and its amount can be reasonably
estimated. If some amount within a range of possible outcomes appears to be a better estimate than any other
amount within the range, that amount is recorded. Otherwise, the minimum amount in the range is recorded.
Disclosures are provided for contingencies reasonably likely to occur, which would have a material adverse effect
on Questar's or Questar Gas's financial position, results of operations or cash flows. Some offl1s qlaims involve
highly complex issues relating to liability, damages and other matters subject to substantial urcertainties and,
therefore, the probability of liability or an estimate of loss cannot be reasonably determined.
Litigation
On May 1,2012, Questar Gas Company filed a legal action against QEP Field Services Company, a subsidiary of
QEP Resources, Inc. The case, entitled Questar Gas Company v. QEP Field Seryices Company, was filed in the
Third District Court in Salt Lake County, Utah. Questar Gas believes certain charges of QEP Field Services
Company for gathering services exceed the amounts contemplated under a Gas Gathering Agreement, effective
September l,1993, pertaining to certain gas produced by Wexpro Company under the Wexpro Agreement. Questar
Gas is alleging breach of contract by QEP Field Services Company and is seeking an accounting, damages and a
declaratory judgment relating to the services and charges under the Gas Gathering Agreement. The charges under
the Gas Gathering Agreement are included in Questar Gas's rates as part of its purchased-gas costs. QEP Field
Services Company filed an answer and counterclaim alleging that Questar Gas breached the Agreement by failing to
allow QEP Field Services to gather and process gas from certain wells located in two fields in the state of Wyoming.
On August 13,2013, QEP Field Services Company assigned its interest in the Gas Gathering Agreement to QEPM
Gathering I,LLC, a subsidiary of the general parbrer of the master limited partnership QEP Midstream Partners.
Plaintiffs have filed an amended complaint naming QEP Midsfream Parhrers, LP; QEP Midstream Parorers GP,
LLC; QEP Midstream Parhrers Operating, LLC; and QEPM Gathering I,LLC (QEP MLP Entities). QEP Field
Services and Tesoro Logistics LP (Tesoro) entered into a Membership Interest Purchase Agreement dated October
19,2014, to transfer QEP Field Services' interest in the QEP MLP Entities and related assets and liabilities of QEP
Field Services to Tesoro, including control of this legal action. Tesoro closed on the transaction for QEP's
midstream business on December 2,2014.
On December 2,2014, the court issued a memorandum decision granting two motions for partial summary judgment
for breach of contract filed by Questar Gas. The court found QEP Field Services Company breached the Gas
Gathering Agreement by overcharging Questar Gas in its gathering rates. The court also denied two motions for
partial summary judgment filed by QEP Field Services to reduce or limit contract damages. The court also denied
cross-motions for partial summary judgment filed by both parties relating to another claim of breach of contract. The
issues raised by the cross-motions, QEP Field Services' counterclaim and damages on all claims are currently
reserved for trial. Trial has been scheduled for April2016.
While Questar Gas intends to vigorously pursue its legal rights, the claims and counterclaims involve complex legal
issues and uncertainties that make it difficult to predict the outcome of the case and therefore management cannot
determine at this time whether this litigation may have a material adverse effect on its financial position, results of
operations or cash flows.
On February 8,2016, Plaintiffs filed the following class action in the Third District Court in Salt Lake City, Utah,
Teamsters Local 456 Pension Fund and Teamsters Local 456 Annuity Fund v. Questar Board of Directors, Questar
Corporation and Dominion Corporation. Another class action, Eric Senatori v. Dominion Resources, Questar
Board of Directors and Questar Corporation was filed in the Third District Court in Salt Lake City, Utah on
February 17,2016.In these cases the Plaintiffs claim that the defendants breached their fiduciary duty of loyalty and
due cause owed to the Plaintifts thereby failing to maximize the value of Questar to its public stockholders.
Plaintiffs demand injunction and monetary relief by enjoining Defendants from proceeding with the Proposed
Merger and awarding monetary damages.
Commitments
Qaestar Gas
Currently, the majority of Questar Gas's natural gas supply is provided by cost-of-service reserves developed aad
produced by Wexpro. In 2015, Questar Gas purchased the remainder of its gas supply from multiple third parties
under index-based or fxed-price contracts. Questar Gas has comrnitments to purchase gas for $22.5 million :ri,2016,
$13.6 million 1n2017, $15.9 million in 2018, 2019 and 2020 based on current prices. Generally, at the conclusion of
the heating season and after a bid process, new agreements for the next heating season are put in place. Questar Gas
bought natural gas under third-party purchase agreements amounting to $82.4 million in 2015, $135.8 million in
2014 ard $186.5 million lll,2013.
In addition, Questar Gas stores gas dwing off-peak periods (typically during the summer) and withdraws gas from
storage to meet peak gas demand (typically in the winter). The company has contracted for transportation and
underground storage services with Questar Pipeline. Arurual payments for these services amount to $70.5 million in
2016,$43.2 million r;^2017, $13.4 million in 2018, $5.2 million :ri,2019, and $2.4 million n2020. Questar Gas has
third-parry fansportation and gathering commitrnents requiring yearly payments of $31.0 million n2016 and20l7,
$29.1 million in 2018, and $26.8 million :ui.2019 and2020.
Note 11 - Wexpro and Wexpro II Agreements and Stipulations
Wexpro's operations are subject to the terms of the Wexpro and Wexpro II agreements, the Trail Stipulation and the
Canyon Creek Stipulation. The original Wexpro Agreement was effective August 1, 1981, and sets forth the rights
of Questar Gas to receive certain benefits from Wexpro's operations. The agreement was approved by the PSCU and
PSCW (the Commissions) in 1981 and affrmed by the Supreme Court of Utah in 1983. The Wexpro II Agreement
was modeled after the original Wexpro Agreement and allows for the addition of properties under the cost-of-
service methodology for the benefit of Questar Gas customers. The Wexpro II Agreement was approved by the
Commissions in 2013. The Utah Division of Public Utilities and the staffof the PSCV/ are entitled to review the
performance of Questar Gas and Wexpro urder the Wexpro agreements and have retained an independent certified
public accountant and an independent petroleum engineer to monitor the performance of the agreements.
In the fust quarter of 2014, the Commissions approved a Stipulation for inclusion of the Trail acquisition in the
Wexpro II Agreement. As part of this Stipulation, Wexpro agreed to manage the combined production from the
original Wexpro properties and the Trail acquisition to 65% of Questar Gas's annual forecasted demand. Beginning
in Jnne 2015 through May 2016 and for each subsequent l2-month period, if the combined annual production
exceeds 65Yo of the forecasted demand and the cost-of-service price is greater than the Questar Gas purchased-gas
price, an amount equal to the excess production times the excess price will be credited back to Questar Gas
customers. Wexpro may also sell production to manage the 65%o level and credit back to Questar Gas customers the
higher of market price or the cost-of-service price times the sales volumes.
In December 2014, Wexpro acquired an additional interest in its existing Wexpro-operated assets in the Canyon
Creek Unit of southwestern Wyoming's Vermillion Basin. During 20 15 Wexpro and Questar Gas submitted an
application to the Commissions for approval to include the acquired Canyon Creek properties under the terms of the
Wexpro II Agreement. As part of this application, Wexpro proposed significant changes to its cost-of-service
program to enable future cost-of-service gas production to be more competitive with rnarket prices. The proposed
changes to the cost-of-service program were subsequently modified by a Settlement Stipulation among Questar Gas,
Wexpro, the Utah Division of Public Utilities, the Utah Offrce of Consumer Services and the Wyoming Offtce of
Consumer Advocate. The proposed modifications to the Wexpro Agreements, as modified by the Settlement
Stipulation, were approved by the PSCU on November 17 ,2015 and by the PSCW on November 24, 2015.
As modified, the Wexpro Agreements include the Canyon Creek acquisition as a Wexpro II properly and provide for
the following changes to the cost-of-service program:
the retum on post-2015 development driliing will be lowered to the Commission allowed rate of return on
investment as defined in the Wexpro II Agreement (currently 7.64%), and the pre-2016 investnent base
and associated retums will not be affected;
Wexpro and Questar Gas will reduce the threshold of maximum combined production from Wexpro
properties from65Yo of Questar Gas's annual forecasted demand to 55Yo n2020;
Dry-hole and non-commercial well costs will be shared ona50%o / 50% basis between utility customers
and Wexpro so long as the costs allocated to utility customers do not exceed 4.5% of Wexpro's annual
development drilling program costs;
Wexpro will share n 50% of the savings when the annual price of cost-of-service production is lower than
the annual average market price. However Wexpro's 50% share of any annual slyings will be limited so
that Wexpro will not earn a return exceeding the return eamed on gas development investrnent under the
1981 Wexpro Agreement.
Major provisions of the agreements and stipulations are as follows:
a. Wexpro conducts gas-development drilling on productive gas properties, including properties acquired and
approved for inclusion in the Wexpro II Agreement, and bears any costs of dry holes. Natural gas produced from
successful drilling on these properties is delivered to Questar Gas. Wexpro is reimbursed for the costs of producing
the natural gas plus a return on its investrnent in successful wells. The after-tax return allowed Wexpro is adjusted
annually and is currently 20.0% for pre-2016 gas-development drilling and7.640/o for post-2O15 gas-development
drilling.
b. Wexpro operates certain natural gas properties for Questar Gas. Wexpro is reimbwsed for its costs of operating
these properties, including a rate of return on any investment it makes. This after-tax rate of return is adjusted
annually and is currently 12.0%.
c. Wexpro conducts developmental-oil drilling on productive oil properties and bears any costs of dry holes. Oil and
NGL produced from these properties is sold at market prices, with the revenues used to recover operating expenses
and to give Wexpro a return on its investment in successful wells. The after-tax rate of return is adjusted annually
and is currently 17 .0%. Any operating hcome remaining after recovery of expenses and Wexpro's return on
investment is divided between Wexpro and Questar Gas, with Wexpro retaining 46% and Questar Gas retaining
54%.
d. Crude oil and NGL production from certain oil-producing properties is sold at market prices, with the revenues
used to recover operating expenses and to provide Wexpro a return on its investment. The after-tax rate of return on
investments in these properties is adjusted annually and is culrently 12.0%. Any operating income remaining after
recovery of expenses and Wexpro's return on investment is divided befween Wexpro and Questar Gas, with Wexpro
retanrng460/o.
e. Amounts received by Questar Gas from the sharing of Wexpro's oil and NGL income are used to reduce natural
gas costs to utility customers.
f. Acquired natural gas production from properties approved by the Commissions for inclusion in the Wexpro II
Agreement is delivered to Questar Gas. Wexpro is reimbursed for the costs of producing the natural gas plus a return
on its acquisition investrnent. The after-tax return allowed Wexpro is adjusted periodically and is currently 7.64% .
g. Wexpro's rehrrn on investrnent base for pre-2015 properties is determined based on authorized returns from a
group of rate-regulated companies plus an 8% risk premium for natural gas development drilling costs and a 5% risk
premium for oil development drilling costs. The authorized returns for this group of companies have declined in
recent years, resulting in lower returns on investment base for Wexpro. Wexpro's refltrn on investment base for
Wexpro II propeny acquisition costs is based on Questar Gas's approved cost of capital.
Note 12 - Rate Regulation
The following table details regulatory assets and liabilities:
December 31,2015
Current Noncrurent
December 31,2014
Curent Noncurrent
Regulatory assets:
Questar Gas
Pwchased-gas adjustnent
Energy-efficiency program
Contract withholding
Deferred cost-of-service gas charges
Cost ofreacquired debt
Pipeline integrity costs
Conservation Enabling Tariff
Other
r8.9 $
1.1
20.3
19.5
6.3
3.6
0.1
(in millions)
s 39.2 $
13.6
8.1 25.5
3.8
9.3
4.3
.7 1
Total Questar Gas regulatory assets 69.8 ll.9 78.3 21.3
Regulatory liabilities :
Questar Gas
Energy-ef fi ciency pro gram
Conservation Enabling Tariff
Cost of plant removal
Income taxes refundable to customers
Other
3.7
0.3
05.5
0.1
0.3
t2.t
0.1
60.7
0.2
Total Questar Gas regulatory liabilities 6s.6 12.s 60.9
Questar Gas records regulatory assets and liabilities. They recover the costs ofassets but do not generally receive a
return on these assets.
Following is a description of Questar Gas's regulatory assets and liabilities:
Purchased-gas costs that are different from those provided for in present rates are accumulated and recovered
or credited through future rate changes.
The energy-efficiency program relates to funds expended for promoting the conservation ofnatural gas
through advertising, rebates for efficient homes and appliances, and home energy audits. Costs are recovered
from customers through periodic rate adjustments. Costs incurred in excess ofrecoveries result in an asset;
recoveries in excess ofcosts incurred result in a liability.
Questar Gas recorded a regulatory asset for a disputed amount withheld from a supplier of gathering
services. The amount withhsld will be recovered from customers if it is determined that Questar Gas is
required to pay the supplier.
4.0
Operating and maintenance, depreciation, depletion and amortization, production taxes and royalties on
cost-of-service gas production are recorded when the gas is produced and recovered from customers on a
delayed basis, generally within 12 months .
Certain cost-of-service gas charges are recovered over a period greater that 12 months. These include a
regulatory asset that represents future expenses related to abandonment of Wexpro-operated gas and oil wells.
The regulatory asset is reduced over an l8 -year period following an amortization schedule that commenced
January 7 , 2003, or as cash is paid to plug and abandon wells. Noncurrent cost-of-service gas charges also
include arnounts for production imbalances that will be recovered from customers at the end of the related gas
wells'useful lives.
Gains and losses on the reacquisition of debt by rate-regulated companies are deferred and amortized as
interest expense over the would-be remaining life of the reacquired debt. The reacquired debt costs had a
weighted-average life of approximately 7.2 years as of December 31,2015.
The costs of complying with pipeline-integrity regulations are recovered in rates subject to a PSCU order.
Questar Gas is allowed to recover $7.0 million per year. Costs incurred in excess of this amount will be
recovered in future rate changes.
The CET asset represents actual revenues received that are less than the allowed revenues. Any deficiency in
amounts collected are recovered through periodic rate adjustnents.
Cost of plant removal represents asset retirement costs recovered from customers for other than legal
obligations.
Income taxes refundable to customers arise from adjustments to deferred taxes, refunded over the life of the
related properly, plant and equipment.
Rate Changes
Questar Gas is authorizedto eam a return on equity of 9.85o/o in Utah and9.5% in Wyoming. Effective March 1,
2014, Questar Gas increased its rates in Utah by $7.6 million annually as a result of a general rate case filed in Utah
in July 2013. The order in this rate case authorized an allowed return on equity of 9.85%. In December 2014,
Questar Gas held hearings on a general rate case in Wyoming. At the hearings the PSCW ordered an increase in
annualized revenues of $1.5 million and an authorized return on equity of 9.5%. The change in rates was effective
March 1,2015.
Note 13 - Share-Based Compensation
Questar may issue stock options, restoicted shares, RSUs and performance shares to certain officers, employees and
non-employee directors urder the LTSIP. Questar recogrizes expense over time as the stock options, restricted
shares, RSUs and performance shares vest. The disclosures under the heading Questar Gas describe the subset of
total awards granted to officers and employees of the company.
The Merger Agreement with Dominion Resources, as disclosed in Note 2 - Proposed Merger with Dominion
Resources, contains provisions addressing all outstanding stock options, restricted shares, RSUs and performance
shares. All such awards vest on the closing date. Stock options are converted to cash at the difference between the
$25 per share purchase price and the exercise price. Restricted shares and performance shares are converted to cash
at the $25 per share price. Performance shares are paid at the higher of target or actual performance multiplied by
the $25 per share price.
Questar may grant RSUs to certain of its officers, employees and non-employee directors under the LTSIP. RSUs
are valued at the grant-date market price and amortized to expense over the vesting period. RSU grants typically vest
in equal installments over a three -year period from the grant date. Certain grants vest in a single installment after a
specified period. RSUs do not have voting rights until shares are dishibuted, but they do have dividend equivalent
rights. Most RSU dividend equivalents are paid in cash quarterly and vest immediately. One share of Questar
common stock will be distributed for each RSU at the time of vesting.
Questar may grant performance shares to certain of its officers under the terms of the LTSIP. The awards are
designed to motivate and reward these officers for long-term Company performance and provide an incentive for
them to remain with the Company. The target number of performance shares for each officer is subject to a payout
adjustment multiplier ranging from 0.00 to 3.00 based on the Company's total shareholder retum relative to a
specified peer group of companies over a three -year performance period. Each three -year performance period
commences at the beginning of the year of grant. Distributions of performance shares, if any, take place in the
quarter following the conclusion of the performance period, so long as such officer was employed by the Company
or its affiliates as of the last day of the performance period.
The Company uses the Monte Carlo simulation method to estimate the grant-date fair value of performance share
awards. Fair value estimates rely upon subjective assumptions used in the mathematical model and may not be
representative of future results.
For performance shares granted :m2013, half of any award will be distributed in shares of Questar common stock
and half in cash. Subsequent awards will be distributed in shares, with no cash component. For share-settled
performance share awards, the grant-date fair value of the awards is amortized to expense over the vesting period.
The liability associated with awards to be settled in cash is adjusted to its estimated fair value throrrsh earnings on a
quarterly basis.
Qaestar Gas
Questar may issue RSUs and performance shares to certain officers and employees of Questar Gas under the LTSIP.
Questar Gas recognizes expense over time as the stock options, restricted shares, RSUs and perforrnance shares vest.
Questar Gas share-based compensation expense amormted to $ I .4 million in 201 5 ar,d 2013 compared with $ I .6
million lrr2014.
The following table summarizes the RSUs held under the LTSIP by Questar Gas officers and employees at
December 31,2015. The weighted-ayerage remaining vesting periods of unvested RSUs at December 31, 2015, for
Questar Gas was 10 months.
RSUs
Outstanding Price Range
Weighted-
Average Price
Questar Gas 97,209 $23.09 -$24.41 $24.01
The following table summarizes the target number of performance shares held under the LTSIP by Questar Gas
officers at December 31, 2015. The weighted-average remaining vesting periods of rurvested performance shares at
December 31,2015, for Questar Gas was 18 months.
Target Number of
Performance
Shares
Outstanding
Weighted-
Average
Grant-Date Fair Grant-Date
Value Range Fair Value
Questar Gas
Note l4 - Employee Benefits
33,578 $21.03 -$39.62 S 30.23
Defined Benefit Pension Plans and Other Postretirement Benefits
The Company has a noncontributory defined benefit pension plan covering a rnajority of its employees and
poshetirement medical and life insurance plans providing coverage to less than half of its employees. Employees
hired or rehired after June 30, 2010 are not eligible for the noncontributory defrned benefit pension plan and
employees hired or rehired after December 31,1996 are not eligible for the postretirement medical plan and are not
eligible to receive basic life coverage once they retire.
The Company also has a nonqualified pension plan that covers a group of management employees in addition to the
qualified pension plan. The nonqualified pension plan provides for defined benefit payments upon retirement of the
management employee, or to the spouse upon death of the management employee, above the benefit limit defined by
the IRS for the qualified plan. The nonqualified pension plan is unfunded; benefits are paid from the Company's
general funds.
Pension plan benefits are based on the employee's age at retirement, years ofservice and highest average annual
earnings during 72 consecutive semimonthly pay periods in the last 10 years of employment. Employees retiring on
or after January l, 2015 may elect either a lump-sum or an annuity benefit.
Postretirement health-care and life insurance benefits are provided only to employees hired before January 1, 1997.
The Company pays a portion of the costs of health-care benefits determined by aa employee's years of service and
generally limited to 1700/o of the 1992 contribution for employees who retired after January 1,1993.
Questar Gas participates in Questar's qualified and nonqualified pension plans as well as its postretirement medical
and life plans. Questar Gas's pension plan and postretirement medical and life insurance plan assets and benefit
obligations cannot be separately determined because plan assets are not segregated or restricted to meet the
companies'pension and poshetirement medical and life obligations. If the companies were to withdraw from the
plans, the pension and other postretirement obligations for Questar Gas employees would be retained by the Questar
plans. The 20 15 pension settlement accounting costs were not allocated to Questar Gas. Pension and other
postretirement benefit net cost and plan contribution information for Questar Gas are shown below:
Pension
Year Ended December 31,
Other Postretirement Benefits
Year Ended December 31,
2015 2014 2013 2015 20t4 2013
Questar Gas
Net periodic cost $
Share of total plan contibutions
(in millions)
10.4 $ 8.s $ l8.l $ 0.9 $ 0.8 $ 2.4
34.9 21.8 29.6 0.s 1.1 2.0
401(k) Retirement Income Plan
The 401(k) Retirement Income Plan (401(k) Plan), formerly known as the Employee Investment Plan, is a defined
contribution pension plan that allows eligible employees to purchase shares of Questar common stock or other
investments through payroll deduction at the fair market value on the transaction date. The Company contributes an
overall match of 100% of employees' purchases up to a maximum of 6%o of thetr qualifying earnings. Starting in
January 2015, qualified employees who are not eligible for the defired benefit pension plans receive an additional
non-matching employer contribution to their 401(k) Plan accounts equal to 4% of their qualifying prior year
earnings. To satisff employee purchases of Questar stock, the 401(k) Plan trustee may purchase Questar shares on
the open market with cash received or Questar may issue new shares.
Questar Gas recognizes expense equal to 401(k) Plan employer matchhg and non-matching contributions earned by
employees during the year. Questar Gas's 40lft) Plan expense was $4.5 million in 2015 and20l4 and $3.4 million
lr,2013.
Note 16 - Related-Party Transactions
Questar Gas
In 2015, 2014 ald 2013 Questar Gas provided technical services to affiliates. Questar Gas provided these services at
its cost and charged $6.7 million in 2015, $6.1 million :rl.2014 and $6.7 million in 2013. The majority of these costs
are allocated. The allocation methods are based on the specific nahre of the charges. Management believes that the
allocation methods are reasonable.
Questar Gas has reserved transportation capacity on Questar Pipeline's system for 916 Mdth per day during the
heating season and 841 Mdth per day during off-peak months. Questar Gas periodically releases excess capacity and
receives a credit from Questar Pipeline for the released capacity revenues and a portion of Questar Pipeline's
intemtptible transportation revenues. Questar Gas paid for transportation, storage and processing services provided
by Questar Pipeline and a subsidiary arnounting to $73.0 million in 2015, $72.9 million n2014 and $73.0 million in
2013 , which included demand charges. The costs of these services were included in the cost of natural gas sold.
Under the terms of the Wexpro agreements, Questar Gas receives a portion of Wexpro's income from oil and NGL
operations after recovery of Wexpro's operating expenses and a return on investment. This amount, which is
included in revenues and reduces amounts billed to gas distribution customers, was $0.6 million in 2013. There was
no such revenue in20l4 or 2015. The amounts that Questar Gas paid Wexpro for the operation of cost-of-service
gas properties were $319.0 million in 2015, $349.1million ui,2014 and$294.6 million in 2013. Questar Gas reports
these amounts in the cost of natural gas sold.
Questar charged Questar Gas for certain administrative functions amounting to $52.9 million in 2015, $47.8 million
n20L4 and $48.4 million l.l;.2013. These costs are included in operating expenses and are generally allocated based
on each affiliated company's proportional share ofrevenues less product costs; property, plant and equipment; and
labor costs. Management believes that the allocation method is reasonable.
Questar Pipeline charged Questar Gas for communication services amounting to $2.8 million in 2015 and $3.7
million :r;.2014 and 2013. These costs are included in operating expenses and are allocated based on usage.
Questar Gas borrowed cash from Questar and incurred interest expense of $0.4 million in 2015, $0.1 million :-:i.2014
and $0.5 million in 2013.
Note 18 - Acquisitions
In December 2015, Wexpro acquired working interests in 75 producing wells and ll2 future drilling locations in the
Vermillion Basin in southwestern Wyoming for $16.0 million. The firancial impact of this hansaction is not
significant therefore, no supplem ental pro forma income information is presented.
In March 2015, Questar Gas purchased Eagle Mountain City's municipal natural gas system for $11.4 million. At the
time of acquisition, the city had over 6,500 natural gas customers. The financial impact of this transactions is not
significant therefore, no supplemental pro forma income information is presented.
In December 2014, Wexpro acquired an additional interest in natural gas-producing properties in existing Wexpro-
operated assets in the Canyon Creek Unit of southwestern Wyoming's Vermillion Basin for about $52.6 million,
after post-closing adjustments. This is a "bolt-on" acquisition to the company's current Canyon Creek assets, which
are govemed by the 1981 Wexpro Agreement. In the fourth quarter of 2015, the Public Service Commission of Utah
and the Wyoming Public Service Commission (the Commissions) approved the inclusion of the these properties in
the Wexpro II Agreement, effective December 1,2015.
In September 2013, Wexpro completed the transaction announced in July 2013 to acquire an additional interest in
natural gas-producing properties in the Trail Unit of southwestern Wyoming's Vermillion Basin (Trail acquisition)
for $104.3 million, after post-closing adjustments. This acquisition was an addition to the company's existing Trail
assets, which are governed by the 1981 Wexpro Agreement. In the frst quarter of 2014, the Public Service
Commission of Utah and the Wyoming Public Service Commission (the Commissions) approved the inclusion of
these properties in the Wexpro II Agreement, effiective February 1,2014.
Note 20 - Supplemental Gas and OiI Information (Unaudited)
The substantial majority of the following information relates to cost-of-service gas and oil properties maaaged and
developed by Wexpro and governed by the Wexpro agreements.
In December 2014, Wexpro acquired the Canyon Creek acquisition and in September 2013, Wexpro completed the
Trail acquisition. Under the terms of the Wexpro II Agreement, these properties were submitted to the PSCU and
PSCW (the Commissions). The Commissions approved the Canyon Creek and the Trail acquisition's in the fourth
quarter of 2015 and the fust quarter of 2014, respectively.
The 2015 and20l4 supplemental gas and oil information includes these acquisitions, as applicable. See Note l8 for
additional information on these acquisitions.
Capitalized Costs
Capitalized costs of gas and oil properties and the related amounts of accumulated depreciation, depletion and
amortization are shown below:
December 31,
20ts 2014
(inmillions)
Net Questar Gas capitalized costs
Estimated Quantities of Proved Gas and Oil Reserves
Estimates ofproved gas and oil reserves have been prepared in accordance with professional engineering standards
and the Company's established internal controls. The estimates were prepared by Wexpro's reservoir engineers,
individuals who possess professional qualihcations and demonstrated competency in reserves estimation and
evaluation. SEC guidelines with respect to standard economic assumptions are not applicable to the large proportion
of Wexpro gas reserves that are managed, developed, produced and delivered to Questar Gas at cost of service. The
SEC acknowledges this potential circumstance and provides that companies may give appropriate recognition to
differences arising because of the effect of the rate-making process. Accordingly, in cases where differences arise
because of the effect of the rate-making process, Wexpro uses a minimum-producing rate or maximum well-life
lilnit to determine the ultimate quantrty ofreserves attributable to each well.
The Company annually reviews all proved undeveloped reserves to ensure an appropriate plan for development
exists. All proved undeveloped reserves are converted to proved developed reserves within five years ofthe proved
undeveloped reserve booking. At December,2015, all of the Company's proved undeveloped reserves were
scheduled to be developed within flve years from the date such locations were initially disclosed as proved
undeveloped reserves. Wexpro converted 94o/o ofprior year-end proved undeveloped reserves to developed status in
2015, 7o n 2014 and 42% in 2013.
Revisions of prior estimates reflect the addition of new proved undeveloped reserves associated with current five-
year development plans, revisions to prior proved undeveloped reservss, revisions to infill drilling development
plans, as well as the transfer ofproved undeveloped reserves to unproved reserye categories due to changes in
development plans. The negative revisions reflected in the 2013 reserve estimates are due in part to an increase in
well spacing in the Pinedale field based on 2013 drilling results. The negative revisions ur,20l4 are primarily due to
the irnpact on proved undeveloped reserves from significant changes in the Company's five-year development plans
based on the drop in natural gas and oil prices at the end of 2014. The negative revisions in 2015 were due to lower
natural gas and oil prices in 2015.
In establishing reserves, the SEC allows the use of techniques that have been field tested and demonstrated to
provide reasonably certain results with consistency and repeatability in the formation being evaluated or in an
analogous formation. In general, the Company uses numerous data elements and analysis techniques in the
estimation of proved reserves. These data elements and techliques include, but are not limited to, production tests,
well performance data, decline cuwe analysis, wireline logs, core data, pressure transient analysis, seismic data and
interpretation, and material balance calculations. The Company utilizes these reliable technologies to book proved
reserves, however, no reserves were recorded from increasing recovery factor estimates or from extending down-dip
reservoir limits associated with the use of reliable techaology.
6.45.8
Wexpro's estimates of proved reserves were made by the Company's engineers and are the responsibilify of
management. The Company requires that reserve estimates be made by qualified reserves estimators (QREs), as
defrned by the Society of Petroleum Engineers' standards. The QREs hteract with engineering, land, and geoscience
persormel to obtain the necessary data for projecting future production, costs, net revenues and ultimate recoverable
reseryes. Management approves the QREs'reserve estimates annually. All QREs receive ongoing education on the
fundamentals of SEC reserves reporting through internal and external training over the policies for estimating and
recording reserves in compliance with applicable SEC definitions and guidance.
Estirnated quantities of proved gas and oil reserves are set forth below:
Natural Gas Oil andNGL
Natural Gas
Equivalents
Proved Reserves
Balances at December 31,2012
(Bc0
697.2
811.2
566.1
532.6
Gvrbbl)
6,169
5,617
4,731
3,192
(Bcfe)
134.2
844.9
594.5
551.8
Balances at December 31,2013
Balances at December 31,2014
Balances at December 31,2015
Standsrdized Measure of Future Net Cash Flows Relating to Non-Cost-of-Service Proved Reserves
The above December 31, 2015 and 2014 balances of total proved reserves includes I 0.4 of non-cost of service
reserves associated with the December 2015 Vermillion Basin acquisition and36.6 Bcfe of non-cost-of-service
reserves associated with the December 2014 Canyon Creek acquisition. In the fourth quarter of 2015, the
Commissions approved the inclusion of the Canyon Creek acquisition in the Wexpro II Agreemen! effective
December 1,2015.
Financial Statement Schedules:
QUESTARGAS COMPANY
Schedule of Valuation and Qualifying Accorurts
Colurnn C Column D
Column A
Description
Colun:n B
Beginaing
Balance
Amounts Deductions forcharged accounts written Column E
to expense offand other Ending Balance
Year Ended December 31,2015
Allowance for bad debts
Year Ended December 31,2014
Allowance for bad debts
Year Ended December 31,2013
1.4 $
1.4
(in millions)
2.1 $ (1.8) $
1.7 (1.7)
1.7
1.4
nfnlHhr&i..,-L/-rrLDecember 2015
101
105
106
107
108
'I1 1
114
Gas Plant Held for Future Use
Completed Construction Not Classified - Gas
Construction Work in Progress - Gas
Accum Prov for Depreciation of Gas Plant in SeNie
Accum Prov for Amortization of Gas Plant in Seryice
Gas Plant Acquisition AdjustmenG
2,506,731,972.24
5,036.83
11,515,347.99
51,063,053.23
(80s,01 1,928.49)
(6,181,31 8.38)
6,644,450.1 5
.79 70.533.538.56 1.1
131
134
136
141
142
143.1
144
145
146
146.1
163
164
165
171
;3ici.l
1
Cash
Other Special Deposits
Working Funds
Temporary Cash lnvestments
Notes Receivable
CustomerA,/R
Accts Rsc - OEP Resources
A@um. Provision for Bad Debt
Notes Rec. from Affiliates
Accounts Rec. from Affiliates
AR-Allocated to Affiliates
Plant Materials and Operating Supplies
Stores Expense Undistributed
Gas Stored Underground
Prepaid Expenses
Interest and Dividends Rec.
Unamortized Debt Expense
Other Regulatory Assets
Reg Asset - DSM Programs - UT
Reg Asset - DSM Programs - VVY
Clearing Accounts
Misc. Deferred Debits
Unamort Loss on Reacq Debt
ACCUM DEF TAX-ITC FULL DEFER
Arum Defar Ta - Federal
Accum Defer Tax - State
Unrecovered Purchased Gas Costs - Utah
Unremvered Purchased Gas Costs - Wyoming
UtaMdaho Low lncome CrediVCharge
Utah/ldaho CET Balancing
Wyoming CET Balancing
Common Stock lssued
Prefened Stock lssued
Premium on Common Stock
Prefened Stock Expense
Bonds - Long Tem
Long-Tem Notes
Unamort Premium - LT Debt
Unamort Disc - LT Debt
Notes Payable-Outside Companies
Accounts Payable - General
Notes Payable to Afiliales
A@ounts Payable to Affiliates
Customer Deposiis
TilesAmed
lnterest A@rued
Oividends Declared
Tax Collectjons Payable
Miscellaneous Curent & Accrued Liabilities
Oh Def Crodit -
Miscellaneous Long Tem Liabilities
Misc Customer Credits
Other Defered Credits - 253-'1 Uncl.
Amum Defered lnvestrnent Til Cr - Utility
OTH REGULATORY LIABILITIES.ITC
Remov B Bal
Taes-FedeEl
Defened Taxes-State
Defened State Tax{RS Transf
Defered Taxes-Full Defened
Defened Taxes-Regulatory Asset Adjustment
Defered Taxes-Federal Minimum Try Carryover
Defered Fed Taxes-ORS Tcnsf
10,454,794.94
72,900.00
-
1 68,965,034.08
1 ,537 ,7 52.17
(1,70e,374.80)
1,663,891.1 8
17,066J1;.s2
45j28.23
43,864,860.97
3,888,116.70
3,293,282.77
54.232AU.81
1,01 8,930.95
92,229.41
(368,1 39.05)
3.746,001.58
212,89r._98
17.825.563.52
'1,096,665.45
7s,035.24
3,401,993.83
216,661.45
22,974
266,715,671.87
534,500,000.00
123,61 5,960€8
273,300,000.00
6,961,277.59
6,425,539.61
(36.1 25,674.91 )
6,765,064.00
13,068,859.18
7,661,087.30
342,601.05
24,527,223.80
1,384,484.53
214,O50.11
429,O28.06
17S.997.00
393,424,219.24
(25.823.25)
1,896,809.84
(1.951,654.S8)
(4,964.08)
(98,307.48)
(33,335.74)
(M,219.'.t1)
(7,664 s1)
(33,186,685.22)
@uAn.56)
54,618.06
(4,4U,1fi.72)
(215.258.6't\
1't 638 44&94
67,030,973.34
229,337.64
(405,918.69)
1.137,035.03
(2,57g,959.1 9)
48,647.79
(7,010,808.03)
445,781.69
5,540,804.46
7,200,000.00
5,404,244.
60,000.52
(18,378,525.53)
2,255,O21.OO
(9,500,000.00)
6,670,177.67
414,980.03
14,821.13
(781,263.33)
(62,71 1.69)
(12,50s.91)
(79.318.34)
(9,309,042.62)
(200.00)
8,384,905.44
599,444.12
(284,794.66)
(16,134.74)
(1,998,720.04)
(78,575.03)
3,539,4S1.03
282,604.79
(309,879.00)
(1,e1 7,156. 1 5)
1,4fi,271.27 :.:l.i
I23 519-53):.{:::::i
(306,756.40);:+
6,341.52 ::::::i::
(530,62e.20) iti:::i
(s1,e78.59) i::#a 315 27A 70\::.li::;
(284,165.86) ii.ili(19,735,666.09) t:+i:
(51 1,051.45) l:1,:#
^E^ ^^- ^- .i+i:250,203.23 iti.!-i-,
1s.244,423.85 ,.,
447,521.U
1.384.202.70
19,976,705.37
154.000.000.00
(28.313,818.1
844.399.1 3
(37,947
(1.00)
(9,000,000.00)
1,471.423.44
(1,7O3,241.59)
(94,758.45)
(7,o2s,4o8.421
(608,347.98)
(150,070.37)
205,857.49
.00
055
iji r ar
li:1823
i 182400
ircz+o't
1U
'186
'189
190001
190008
1 90009
191000
191000
'191800
19't900
191901
192
231
232
2U
236
241
i242012
I zssoos
201
204
207
214
221
224
225
46
242000
252
255
254001
254020
282000
282100
282108
282002
282003
282006
282008
243 Defered Taxes- Purchase Gas
63,695.87
34,323,367.69 3,576,540.41 3,974,436.1 9
il.
Questar Gas Company
Balen.e Sheci
Page 2
Utah WyohingTotal GeneEl Production Dislribution DistributionAnd Other Debib
01
05
06
07
08
11
14
General Planl in SeNice
Gas Plant Held for Future Use
Completed Construc{ion Not classified - Gas
Construciion Work in Progre$ - Gas
A@um PDv lor Depreciation of Gas Plant io SeNie
A@um Prcv iorAmotEation ol GG Plant;n service
Gas Plant Acquisition Adjuslments
Accum Pmv forAmoatization of G6 Plant Aauisition Adiustments
2,508 ,731 ,972.28
5,036.83
1 1,515,347.99
51,063,053.23
(805,01 1,928.49)
(6,181.318.38)
6,644,450.15
€92.000.05)
239,788,836.54
1,623,165.72
8,619,61 1.69
(132.818,969.75)
79,968,136.00
(68,103,276.20)
(6.111.692.41)
2,113,644,079.15 73,330,920.59
5,036.8310,306.063.33 (413,881.061
42,172,914.72 270,526.82
(s77,1 63,302.68) (26,926,379.861(58,742.89) (10,883.08:
5,644,450.15
(992.000.0$
131
134
'135
136
141
142
1 43.1
144
145
146
1 46.1
154
163
164
'155
171
Cash
Other Special Deposits
Worldng Funds
Tempocry Cash lnveslments
Noles Receivable
CustomerA,/R
Accls Rec - QEP Resources
Accum. Provision for Bad Debt
Notes Rec. frcm Affiliates
Ac6unts Rec. from Affiliates
AR-Allocted to Afflliates
Plant Materials and opecting Supplies
Sto6 Expense Undistribuied
Gas Stored UndeErcund
Prepaid Expenses
lnterest and Dlvidends Reo.
Misc Clrenl I Accrued Asels
10,454,/94.94 10.454./94.94
72.900.00.-
168,S65,034.08
1 ,537 ,152.17 1,537,752.11(1,709,374.80)
-'1,663,891.18 1,663,891.'18
17,066.1 14.32
45.128.23
43,864,860.973.888.'116.70 3.888.116.70
69,900.00 3,000.00
165,878,546.88 3,086,487.20
(,,un',,ooioo t',u,..u*;
1 7,066,1 14.32
45,124.23
43.864.860.37
181
1823
1 82400
182401
184
186
189
190
190008
190009
191000
191000
1 91400
Unamortized Dobt Expense
other Regulatory A$ets
Reg Asset - DSM ProgEms - UT
Reg A$et - DSM ProgBms - vYY
Clearing Ac@unts
Misc Defered Debits
Unamort Lo$ on Reacq Dett
A6um Defered lncome Tu
Accum Def etred TdegFedeEl
Accum Defetred Tdes-State
Un@vered Purchased Gas costs - Ulah
Unrc@vered Purchased Gas Cos,ts- Wyomiog
Lltah/ldaho Low lncome Credivcharge
Utah./ldaho CET Balancing
Wyomlng CET Balancing
3,293,282.77 3,293,282.7754,232,4U.81 54,005,918.111,018.930.95 1,018,930.9592,229.41 92,229.41
(368,139 05) (368,1s9.05)
3,746,001.58 3,746,001.s8212,892.98 212,A92.98
17.825,563.52
't,096,665.45
79,035.24
3,401,993.83
216,661.45
226.516.70
1 91900
1 91901
17,825,563.52
79.O35.24
3.401.993.83
1.096,665.45
216.661.45
I Toml Assets and Othor
iiiirl Liabilities and other c
t0'l
t04
t07tl4
common slock l$ued
Prefered Stock l$ued
PEmium on Common Stock
Prefered Stock Expense
I lh2^^hhd,tad Ear tr,mihn
22,974,065.00 22,974,065.00
266,715,671.87 266,715,671.87
11a A40 oil 57 11r B5n Oll A7
21
'24D5t26
Bonds - Long Tem
Long-Tem Notes
Unamod Premium - LT DeH
Unamort Disc- LT Debt
534,500,000.00 534,500,000.00
a"^rrn* a"^"rno^
235
237
238
241
2420't2
253003
Noles Payable-Oulside Companies
A@unts Payable - GeneEl
Noles Payable to Affiliates
Ac6unts Payable to Affiliales
Cuslomer Deposits
Tues A@rued
Inlerest A@rued
Dividends Declared
Ta Collections Payable
Miscellaneous Curent & Accrued Liabilities
Oth Def Crodit - Retainaoe
123,615,960.88 123,613,644.50 2,316.38273,300.000.00 273,300,000.006,961,277.59 6,961,277.59
6,425,53S.61(38,12s,674.91) (36,125,674.91)6,765,064.00 6,765,063.50
13.068.859.18 13.068.859.'187,645,328.58 7,645,328.58455,305.19 455,305.19
6,1A6.272.97 239,266.64
(1 0,467.61) 1 0,468. r 1
242000
253
255000
254001
Miscellaneous Long Tem Liabiliti6
Misc Customer Credits
dhe. Defed Crcdits - 253.1 Uncl.
A@um Defered lnvestment Tax cr- t tilhy
Other Regulatory Liabilities
6th Pan I iaLpl.nt P.m^v R Eal
63.6S5.87
358,359.77
24 ,527 ,223,A0
1,384,484.53
214,050.11
429,028.06
6q 17q qq7 00
358,359.77
1,320,788.66
899.25
429,028.05
23,880,667.47
62,198.24
204,596.25
646.556,33
1,497.63
7,O17.741,506.87
282000
282100
282108
282002
282003
242006
282008
DeferedTaxes-Federal 393,424,219.28 11,551,557.29 1,247,543.38 367,950,302.16 12,674,816.45
Defered Taxes-State 34,323,367.69 935,998.35 700,755.31 32,686,614.03
Defered State Td-QRS Transf
Def ered TdeeFull Defetred
Def ered TaeeRegulatory Asd Adjustmenl
Defered TdelFedeEl Minimum Td Carryover -
Defered Fed TaeeQRS Transf
ooq
N<.\oo
(oq()Nq
oq
@6
N
O-()NrOqoqq-\qr()(o@\t(o@C')O--cOo- N- cq- @- o- -F. 6 (O Cr) l'* rOF--(,)ON-f- -1 c! (o_
-NNNO-
OrnNrcqqq---\F.-cO(O(o*@o()sroNooof--OcOOt'-OF*rO()t- -- N- (o-
-Nl'--NOr
lEd)AE6o>@-
a(D a hoc=uc.9 A
6ii.9d-5ut!
caau-!=O-:uYEFE=E
oo=x!i=did
asoE!c6JEE6EcoJ
(Oo-N(oN(OOOC.)od)oo(r)
q(oo
d@q
o)F*
oq
(.)
GoF
(E
I
(E(,
oa
o
(L
oG(9
]i
tEz
6O*OOOO$ONNOONNO$Oai o.t'si dd+ro@OOrOOrl.-Nr-o-o- r-o-o-c{o-ryoN@NOO$@F.-o60(ooo6@!-oo-6_o-o_6N(o60)o
(OOTOC.)NTON(O
aqoq\qqc!qe?o{erNF-6cO{l-'soocoF.or)omoi+@*---o_@-\o-*-+-r-(o-tt+oNFC)-(.)l'*Ot-(O6<'orf$N-oO_ -- (O_ N_ Or- O- O- O- @- Nf=OOON(oNOer@n@-o-oN
$O66(O--(O-(O\o{oq\\at(loqc!OO(ONONNT@ON$OOF-.N(OO-O(O- -- @- (O- 6- €- N- N- 11 o_rfl.*l.-No\t(ot-(oF-t-$t-$0$oF-60o- -- l'--- ry @- o- o_ \ @- (\
F-(O(O@O)$(OtrrrrOrOl'.-Orco- c9 N
IPq
=oEO4sfEuq)L.U O'
o0)
FAo<
d)l
:r xul =Ar![
;, rrr E .a> F6 c)
E.EEp E
"d:b"5 =6^6ax'9E Ya = d NE.eXiEpt.xO-=q.a;a
=-EFdaJiE;38sssf
{OON@O-ONoF-NNF-NO@OO@oooooooooo
nt-qoN
c')t-
F-N
()ou2
Ai
EoF
(E
(L
o
.a
@o
OOOO@ -rNoo(o@N ooodcit--or'orocaO-Ol.-N ()o(oa o- c! o^ o- o- @- oo-OAF-Nr r)OCOrOF-r- orfNrm- ry (o
NN
o(oNrfNo@oooOOOOOOOF-OOa)odo@dri+ooNorooN@\too-o_ o- c! o- o^ o- c! o- o_ (o-()co(oFr)o@NNNF- { CO (O *f (O l.* F.- C.) (O
\\@-co- @_ N-co-NOOr(O f'* rON-+ N
ooq.:
F- cONOryo^o-) l.'-r)r)6- @-
F-- ()I()
F-()OF--f.-(oO(Oooq \ o{ q? o? e? c?'. oq qNO@@N()(){F-rO\tN(Oooi+(O(Ooo- (o- N^ ()- o- o- o{ -- Fr- tF-F-@$l'-r(O@N-@@@rfr)F--N(o€1.-\o-(o-\ co- o-o-N(O-l'*6 o -()N(Or+ N
Eo--aa E ---c+66a- = SE--h
EBE '.= agEsE-p T E'P,++'+.;
; E ! E g
=E
E ssE <; I otrl H ts d pq E E * 9 . &.9 9 Eg d Eit a € I
=
E d
;sE#e!;Egg
O-NOrf()@F-cOc')oooooorooooooooooooo6
(o
coNq
6oao
q
o
jg?
(oooq
@6\
N
oq
ao$sl
co(o
f.*
t-oc?oN
+.+
ryN
oq(oct
€@oloF..
oq
NF-q
\(ooq?
N
(,o.E
0)o
o
C;()a$$q
o@N$OOOr
CO CY) Naq\(oo$Cg@ro_ o- o)_
60NONO_ r-
ON
NO\q()s(Orr- @-
d) o.)Nr(o- o-
-cO
moooqqsl(ot=cOco$roo_ c')- o_o60r(O6_ O-
rO
q6(,
o.9o
8o6'od I3tiaz3
.l ofI
='F -rr O .:l- f .-
EooE 5BO.\ -f - O
= a-Ga)f,r gi;ol:c600(roo
tr(E9*Etro(nod(/)s(E0(5=g(Us5aD(]oJo
NNo.
oN
ooo@oNoNmo{ooooooor@o- o_
oo@F*ONdodo\tor@nooNNNOo- c! 6-o@@$vs
o@@@ooooryo{o@F- F.o- o-r)oNN
r-Oqa\(o(oo@rorOOOF-FT-tsONOOoto @
oo@@-Oaio6iOO-o- o_ (o-
oNo$oo- o_NTrO
a0)az6!ufD 1-dtro!o.Qo t
=6LO oa' 9:OO I? Zg<tiEq
s, z B# 'iEEdBB
L O.=O!. l..ooE;E33
= 3=oolOc9l^-o.o d 6F o-!!sE i55r 9i6 v voEah:6 o o:{o(J(J55
o(oF*P33
O\Ot--
ooo
@@
FOoF--F(OOOOoq\c!qolc?q'.qqNo@ONOO$rro$Nooo<oo@OOrOmoN-N$NF6<-F"jooc,i--@@@$0Ntso@Nts 6,@-N- @- O_O_NO-N@ O -or@$ N -
@o
NN@
o
oo o o@r n o
N@ N Ooo (o oO- N
o; - @
-O D @Sr
I...ON N @S
-NO o rN
-.t@ O O@oo$ N orO-m-O- r- O--_
ooo if roON@ NF*F.Foio
F-OOOTOO$Nn@ONmOOO*-O
NCio@N@ririoi*jO-oOoO$O@@o_o_-rym-$-c!!'-o_$-rF-NOtsOO@o-@O@rooNNOrF.-- r_ m_ - S- o_ o- NooNo o NoO@rt O r
E0)
c.*
=5 fi EgfifiE or=.9he
--+ 9';i 3= o
fiF;.iEtqB
E€ iEgEE H,7bfi6-0oEE
EEP+'EEEE5S#eEEsg
-NO$0@F-@oooooooo66000000
aco
Eo
oo
E
!E(g
oaof
U)
o6
oc6)
c(g
o-
E0)c0)(,
o€o
oo
@o
o@oor
@@o-oN
6
oF
(r
o0O(O-r()-c!q\\aaq"qOONONNT@$OOrNOo--_ @- @- o_ 6- l.-_ F-_ -rNNO$@'.*(o$N$OSOFO-rN@ooNOo@@os-od.j-oeONOro- oN
OO mNrtN-a9 q.:c9qc!
@F- @$Srra$ OOOrrtN- o- @- l'--_ o_ F- ri
6N €€@OTNSNO
onrooo@ocq?q\c!qa?qroo$o600o.ttsooo@@ooNoooo*
"jrNNo.j+ooNooF-<to(oO OONil 'jci6iN
@o@ooooNqcl\qa?q'.4oorc{@oooON-NNNNOo-ry$_--N-o-o-F_o@o@\t$@@@o-ON-6NooNNo@@oOo€@O.fS=j-Nr@F-Oro_ oN
;aE E
, fiE Pg=€3 E=:#6T E ET=HB *3g< E E R d,fl
EE gB;$ 3Ecroo>o>xo
HSEHEHHH
sNdN@-sro-ts
$oqoNFo0\r_
N
oq
@@":
N
OOrN@rNOOOOOoooooo
OrONroOo-NF-oci@+@OO-ro_ryo-@-o-NO(OOrOrrOos_ -_ N_ @_
-NF-N
osDN-qqq.:\
FOO@t@Oor-oNooos:o o o pOFroO-f- -- o{ (o-
-NFN
aa.P66BBr .)9 (',I b(i:E EP-Oa#E{ tr*,7, 3 3EsgsE6=-,^oEEg.EPi
0oN
o
(tooo
o
oF
06ooG-oFd)zto
=FzutrtoE
oE
E
oE
o.9Ioo
;
E(L
o(Eo
c
coo
odo.aEotrg
u-
EG(L
.9.o
Noai$\
oN+N
NqoomN
o
tro
Eo
ot!,tr(!
otro
Et,
cg
(L
o
ctoo
(o
o
ooN(o
ci
N
Fo
@oo
oroq
6
GoF
6
(L
o
!
oo
@NciNo
oN
o
N
$
edo
0@
so.{@o
oN
@so
N
6
oo.E
oo
;
doo(,
E
oF
o
OO-ONroqolqq':\qoNoo(o<'@O@oO--@OO N O O O -ONoOmrrOOr-O0Nc! .{'- s- ry o-
@rNNNDs
)o-@NrO)OOO-F-(o;No@@+<o)@OOe-@)ONOOor(OrO@ON-OoN-OONol $_ -- N_ (o_
@-NNN
fEdl
66
=o-'ue-123 6 E f.9'O : h F ,
a= o r '= c
E# E q ,fl EiaLe E E
=E€5Eg'fiEE6=-^oE oEE85Pi8
@O-N(oNNOOOOOoooooo
oo
(oo
oN
o@
@o
oF-
6
oF
(g
(L
6(,
od
!,o
ILo6oii
(,z
SoOO(O-FO-@NNONNV$O@N
OOONONN-@ON<fOOF-tsOO-O@-OO6ONN-O
{F-NNOii'@N@l'*I.-$NSO$ONOOO-NNOSOT@N
N@@@OS@t-
--Ar@F-orO ON
ON rmO--O$e NooFN$
OO @@\fF-@oo Noorf so@- -- O- O- €- O_ i-: q
TONONOn o @ 6 o - vrO-O-
ON-O(OO@-
-O--OOOONTNOO:tts@OOO-NNrr@$rOOOS@O@O
o@NoNoN*6<t.to€oFoos
-ON OO@ (o
=ro <o sd--sf NN
OOoSO@oorOOO-@ts@O@FO
-oidd@-jooidNrO@Nr@O-6OOO@oNormNdd-+ooN@$ci
NrO@Nr@O-OOO@oNorm
{d-{moN6$oo+6@Noo$O- @_ @_ r_ O_ €_ O_ N_ O_
ONN@OONrirTOttOrN ON
OfocU
= hr.rr Ea ah tL 6;, fiE 1 i5I cX Oo o"' .^ a!PE D YP*^EE.qe *Es.d: E"d *Es@Aoo ;i5Fo=4Ea i7 oa:;X58eil5! 9 ii EH; o o 6 o5838gsgr8{
r{.o@NOO-OF-@rNNFI--@€6€Oooooooooom
NOON-tsOa@ooOrNooOo-@DONo@€isrjrjsn--c;ori'N@oos@@@oO@I.--oOoNrN$orF-@+r.j(oosi-sio@@sorF-.(o@Noo@@sorr@@rN-€-@-r- @- o_m-N
o-N€ O rON(o$ N
OO- .{- oN$@ D Nooo o to(o$ o o=:O-0- o_ rynO- S Oooo NNFO O r
!'N
@oNo r ooo@OO- r@orr(OO O (OOOo$6N N rNOo_ N- o_ o{ c! (o_ (o_ o-
N*ON O O\tNl.-o-N o ooO_r_O_o- 0_ O
-r+Orl" O
OOrr-$@N@O@rF-$o|.-OOOnoiddNxcirisr-rooNots$oooo- r_ o- o- o_ (o_ 6l o_ o- o-
o@@NNO@O@@rO@OO$NNN@N-O_@_€- O- =l:O^NN@oe F- ro@@S N r
EPACE9P E - 69.9= 6 bF=oE=E LI EEbS
"ETE t,E=*E9EPH+=HEd,fl*eI c \u Lu h; o.go I fi R
19c;qF6XrU6-:; e -: e: 3c E U EH E E;.3 our ^p 6 d pF-ot.9*olX.9oE; g; bmAB55 k&
$;eE#E$$EcE
oOrNO'{.OON@o@ooooooooooooooooooooo
ooo o@oN(oFO O0+6 6ose 0o-o_o_ $600 $r@ {oo @
-$\t@oD'@oooo@$_ @_ @-(ooo(o*(oof l'_ 6-oooONN
-rN
ooN oqqc! .:(oF.-F- Oobo oo-N-N_ ao@o srO $ro Y6n @si --: <o
aoaAo(s
.oEJ'6,'x I .a@V6 r O!o6 * 3 E3rUE3-E-. z oi x.2!9-Q(Ll.lJE
;i .oo- I9a
EHtEE€E 3=oc.l 3rSsgr&
f3;?9#otsc=!o6 o olf*? (!(,oo<<o
DON .tooo
g
oF
o0oosooOEE
oE
0,
oi,o
o
Eo
ot
(!;
O-cO,QEV'6, od
FOE.otr6E
oo
o
o
tro
E
E
Ioil,!t
La!
o
oo,qEvE
Ei
Questar Gas Company
STATEMENT OF CASH FLOW
Year to Date @ December 31
2015
Flows From Operating Activities:
to reconcile net income to cash provided from operating activities:
59,790,302.26
1,384.202.70
53,026,885.47
1,475,152.60
46,1 61 ,394.49
PROVIDED FROM OPERATION ACTIVITIES BEFORE CHANGE IN ASSETS AND LIABILITIES:178,383,911.03 160,585,022.77
IN ASSETS AND LIABILITIES
(8,699,594.90)
16,134.74
(1 ,462,1 95.96)
(282,604.79)
4,304,568.62
(1 8,932.03)
1 0,023,1 03.46
(28,313,818.1 1)
(36,475,649.39)
19,409,413.52
Materials & Ops Supplies
(2s2,254.1
(38,O2?,O87.1
33,782.79
(1 3,679,997.14
(2,67O,278.84
5,722,820.76
(233,842,787 .13)(161 ,541,240.49)
USED IN INVESTING ACTIVITIES:(245,904,165.93) (172,238,886.67)
CASH FLOWS FROM FINANCING ACTIVITIES
Prefened Stock lssued
Equity conkibution
Port LT Debt-Balance
port LT Debt - Repaymt
Bonds - Long Term
Notes Rec. from Afflliates
Notes Payable to Affiliates
PROVIDED FROM (USED IN) FINANCING AGTIVITIES:115,000,000.00 6s,600,000.00
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 19,309,242.62) 11,060,911.95
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 19,836,937.55 8,776,025.61
CASH AND CASH EQUIVALENTS AT THE END OF THIS PERIOD 10,527,694.94 19,836,937.55
Questar Gas Company
Comparative Statement of
Utility Operating lncome Current Month
107,020,809.15
14,118,757.79
1,144,394.41
4,878,767.28
1,906.61
1,839,039.87
(15,403,743.00)
26,965,443.O2
(2,1 29,548.00)
2,311,323.69
105,239,674.97
17,825,134.78
762,'l'10.90
4,479,825.05
2,206.76
1,794,752.O4
(24,023,165.00)
34,767,754.6s
(3,806,7s0.00)
1.781. 134.18
408 Taxes Other Than lncome Taxes
409101 lncome Taxes - Federal Uiil Oper Income
41 01 1 1 lncome Taxes - Defened Federal Tax-Utility
4091 1 1 lncome Taxes - State Util Oper lncome
44,287.83
8.619,422.00
410101 lncome Taxes - Defened State T
Other lncome
409201 Federal lncome Tax - Other Income & Deductions
40921 1 State lncome Tax - Other lncome & Deductions
410201 Deferred lncomeTax- Other lncome & Deductions
419000 Interesi and Dividend lncome
419100 Allow for Other Funds Used During Construction
1,898,186.25
(17,270.00)
75,431.31
', r,uou.r,
321,669.00
643,474.00
(22,54s.00)
'150,8'18.46
26,306.79
4,4243e
1 6,318.19
329,819.00
19002 lnvestment lncomefrom Afflliates
421000 Miscellaneous Non-Operating Revenue
1200 Loss on Disposition of Property
2,057.76
20.833.33
Interest - Long term Debt
Amortization of Debt Discount & Expense
lnterest on Debt to Affiliates
2,255,021.00
70,042.35
80,'184.03
65.55
2,255,021.O0
70,042.35
30,895.82
62,928.74
1001 Oiher lnterest Expense
lnterest on Short-Term Debl
Retained Earnings
Retained Eamings (Beg of Period)216 UnappropriatedRetainedEamings433 Balance Transferred from lncome
312,235,779.36
22,614,252.31
21,800,313.27
4.532.277.7037 Dividends on Preferred Stock
308,51 7.440.70
tt,
Questar Gas Company
Comparative Statement of
Utility Operating lncome Twelve Months
This Year LastYear
Revenues 917,628,437.47 960,839,257.44 (43,210,819
5s8,086,710.99
'148,641,486.09
1 3,844,966.91
55,091,168.91
1 6,733.38
'19,31 1 .668.81
(6,817,613.00)
40,279,864.10
(2,272,888.O0)
604,765,358.63
161,950,982.95
13,366,386.76
53,506,085.03
20,46't.02
17,863,863.64
(6,394,050.00)
35,668,563.00
(2,165,810.00)
478,580.1 5
'1,585,083.88
1,447,805.17
1 01 1 1 lncome Taxes - Defened Federal Tax-Utility 4,61 1,301.10'11 lncome Taxes - State Util Oper lncome
10101 lncome Taxes - Defened
Other lncome
40920 1 Federal lncome Tax - Other lncome & Deductions
40921 I State lncome Tax - Other lncome & Deductions
9,142J08.25
(21 9,1e5.00)
(8,475,971.00)
1,215,548.77
533 83
150,070.37
3,929,124.00
5,s45,836.00
(27e,723.Oo)
(6,737,969.00)
'l,671,542.46
874,800.75
41,732.55
195,817.40
3,754,880.00
133.901.13
3,596,272.25
60,528.00
(1,738,002.00)
(455,993.69)
(874,800.75)
(41,198.72)
(45,747.03)
174,244.00
'10201 Deferred Income Taxes-Other lncome & Deductions
419000 lnterest and Dividend Income
419'100 Allow for Other Funds Used During Construction
'19002 lnterest Income from Associated Companies
420000 lnvesanent Tax Credit
421000 Miscellaneous Non-Operating Revenue
1 1 100 Accretion Expense 24,692.79
5,947.20421200 Loss on Disposition of Property
lnterest - Long term Debt
Amortization of debt Discount & Expense
27,060,252.OO
840,508.20
334,117.24
172.677.35
27,060,252.00
840,480.50
95,663.41
771.060.03
lnterest on Debt to Affiliates
1001 Other lnterest Expense
lnterest on Short Term Debt
Retained
Reiained Earnings (Beg of Period)
Unapproprialed Reiained Eamings
Balance Transfened from lncome
Dividends on Preferred Stock
Dividends Declared - Common
308,517,440.70
64,332,590.97
(38,000,000.00)
289,363,034.63
55,154.406.07
(36,000,000.00)
19,154,406.07
9,1 78,184.90
(2,000,000.00)
Questar Gas Company
Comparative Statement of
lncome and Retained Earninqs
Page 10
December 2015
Utllity Operating Income Twelve Months Increase
(Decrease)This Year Last Year400 Operatinq Revenues 917 .6?8.437 .47 960,839,257.44 (43.210.819.97
Utllity OPerating Expenses401 Gas Purchases401 Operating Expense402 MaintenanceExpense
403 DepreciationExpense
404 Amortization and Depletion
408 Taxes OtherThan lncome
409101 lncomeTaxes - Federal Util Oper lncome
41 01 1 1 lncome Taxes - Defened Federal Tax-Utility
4091 1 1 lncome Taxes - State Util Oper lncome
558,086,710.99
148,641,486.09
'13,844,966.91
55,091,168.91
1 6,733.38
19,31 1,668.81
(6,81 7,61 3.00)
40,279,864.10
(2,272,888.00')
604,765,358.63
1 61 ,950,982.95
1 3,366,386.76
53,506,085.03
20,461.O2
17,863,863.64
(6,394,050.00)
35,668,s63.00
(2,165,81 0.00)
(46,678,647.64)
(1 3,309,496.86)
478,580.1 5
1,585,083.88
(3,727.64)
1,447.805.17
(423,563.00)
4,611,301.10
(107,078.00)
544,226.38410101 lncome Taxes - Defened State Tax-Utility 4,179,071.78 3,634,845.40
total Utilitv ODeratino ExDenses 830.361.169.97 882.216.686.43 (51 855 516 46
let Operatinq lncome 87,267,267.50 78.622.571.O1 i96.49
Other lncome and Deductions
Other Income
+09201 Federal lncome Tax - Other Income & Deductions
+0921 1 State lncome Tax - Other Income & Deductions
110201 Defened lncome Taxes - Other lncome & Deductions
119000 lnterest and Dividend lncome
119100 Allowfor Other Funds Used During Construction
119002 lnterest Income From Afflliates
120000 lnvestment Tax Credit
121000 Miscellaneous Non-Operating Revenue
121 1 00 Gain on Disposition of Prooertv
9,142,108.25
(21 9,1 95.00)
(8,475,971.00)
1,215,s48.77
533.83
150,070.37
3,929,124.O0
s.218.19
5,545,836.00
(279,723.OO')
(6,737,e69.00)
't ,671 ,542.46
874,800.75
41,732.5s
195,817.40
3,754,880.00
'133_901.13
3,596,272.25
60,528.00
(1,7s8,002.00)
(455,993.69)
(874,800.75)
(41,198.72)
(45,747.03',)
174,244.O0
(124.682.94\
fotal Other lncome 5,747,437.41 5,200,8'18.29 546,619.12
Other lncome Deductions
[11100 Accretion Expense
121200 Loss on disposition fo Property125 MiscellaneousAmortization126 Donations and Other Deductions
22,605.71
18,036.33
360.553.60
24,692.79
5,947.20
385.500.00
12,089.13
(24.946.40\,
total Other Income Deductions 401.195.M 4't613S 39 12 457 27
fotal Other lncome and Deducuons 5.346.241.4.784.678.30 559.476.39
Interest Charges427 lnterest - Long term Debt428 Amortization of Debt Discount and Expense430 lnterest on Debt to Affiliates
431001 lnterest on Short Term Debt
431009 Other lnterest Expense432 Allow for Bonowed Funds Used During Const - Cr
27,060,252.00
840,508.20
334,117.24
ttz,otl.53
(126,636.49)
27,060,252.OO
840,480.50
95,663.41
771 060 03
(514.612.70\
27.70
238,453.83
(598,382.68
387.976.21
fotal lnterest Charqes 28.280,9't 8.30 28.252.843.24 28.075.06
ncome Before Cumulative Effect 64.332,590.97 55,154,406.07 9,1 78.1 84.90
)umulative Effect of Chanqe in Accountinq for Asset Retirement Obliqation
Vet Income 64.332.590.97 55.154.406.O7 9.178 184 90
Retained Earnings
Retained Earnings (Beg of Period)216 UnappropriatedRetainedEarnings433 Balance Transfered from lncome437 Dividends on Prefened Stock438 Dividends Declared - Common439 Adiustments to Relained Farninos
308,5't7,440.70
64,332,590.97
(38,OOO,OOO.OO)
289,363,034.63
55,1 54,406.07 9,178,184.90
(36,000,000.00) (2,000,000.00)
letained arninos (End of Perioc 334.850.031.67 304.517.MO.70 26.332.s90 97
oosoqc!c!qN@NN
N- o- -- (qoo$N
O-@ O -NN
oosaONNO
N@NN
N- O- s- @-
oo$N
NN
ocoo
UEc6
d3E dFOtr H EE6< S bh q I qFq3xriE
iEd36
6.Ni;E:-
g-gsgE<EOS
oNoNOOooosoo
s]6to
@oods@o@o
o6
E?P66
^EEEEn':di c b E
;'E E P E
-x X E Eg&EEE
EsHHHUbE-d
E E.gEE'd 9kE!oc6.a.arlooo
@oN@
N-N Oaqq , q , , , ,
SF- O-
oo@- w
N<N Nddo'@
N_N-N- O-o@@ o
@_o-o- N-
6 S NOOOo N 4-oNcj'ct'oi;dj-
- N OO@N\ o- c!N_@_qO N NNNOO O N@NN6 N @VN-d 6 -jo_oi so o-
6Oer@-OO@OOOOO@-ON
ciaiddiaic,-6i-r6ooo@O@NNsosN@N@O
oFs-@eNNO6$<O-F@NNO_@-@-O_ O-S-N_F-
6606 00NsOV-6 FO-
E9r
coobEs
.Eo,h
hdt=EboP
E,P A; E
e ,6.6 Eo'r', .EacEq*EEi
6000OOOs
g9UUocqo
E6
d@>o
oo
@ooN oNoc!qq\ , qc?c@OF@ OO$ooNs oNd--OO 6O-6iotdrt dotSrNr ONFN$N -OO @- O
aooF oNoc!qq\ , qa?c@Or@ OO{OONS ONNF---o-o- o O-1NOOA OOVFNr ON-NtN FOO @- O
E'Eo q_a 6ooo dE O" trt6P"i E o-PF O rpd8 ; 9: o! .! o
=EEtEEE P6!OEH.q =FE;E4E Ei6*EsEE",*P 5:€,iE5Eooi-.>ioxz
EEEEEHEEH:=9p11 ::9h
g$€HgEEEE
li6oE=! c>
\q
o@@- $-NN
t
$er6F.Not35ec=4
oo gfi adcoEg Fs9;R
QEg
oo
-NN
oIJJzaFllJtr,oz
UJ
=ooz
lroFzIU
=IUF
FoJ
zol-ozllt
OO F -ONO O OO@o s ooots o o@F_N_ a o-@-@N O NTor N rNo
qc,6? ,o?q6O - 60ots o o@': c.! {- o- q
@N o NsO- N rN o
59a_€sfr E
q"zd 63Ee .q Bs*8 ; E: o! .= oUEx 5- G:Xiouq q
EfqEEg I
35 E€iEr.3ExTi,?ri15io oi a2 L o x_EE",50qE.oIooFo*50-l99F!EO9E6:= -r o L= o ckEEO;P;E!
STtEE;,*E H
'i6oE<ss=
S33-EEoP395555$$
E
Idot
60E
oo Iug ts
i:=oo
-6i+ri
rtdd
c!
qqqq
O_ O- --
c.L
N
u
H AE E64.q_.oFOE B EE;< F b
e,P I ff x
-E33qE
-c<Eo!
o'Gi
NN
N- @-
NN
6
'E
u i5*
EB?96d
$f,fiEHe* oo EE EPP 9it.j
sEeEE
fiEE88
B I cPPE +E d d
ff g*EEdlooo
'drioi'ri
N drt o
N<iri 'ai
F dri o-o_---- 4-
o 6 bNOOq.q.aqqq
6 F NO@O< N NO{Nd o @Noe
O O O-OrF N O@N-6 0 N4-O
N ;oj.i
60soFNNOOr\ac!qqqqqoN<tso@o@oo600000tNdN6N60NOOdd;{d.joi;o -NTSN O@NFdFFo OOFON$s+ F-NNOF
4:'xo; 8er
I =6iu tcoc f,. F
v -^-EE 5 eSY 3
f oo=XE-.-sEHBitEHc9AE6rur=B gdfi EE;;38ff8FFb99bEcEst6f* E*$.EsE$58=3o'SSIEEiE
N
N
o
o@@o@a
@
oo3
o
ot
ooo;N
oooooo
o\
$-
@@.
N
oooN
ooooioo
o\
s,
@@+N@
N@+oN-
@
o-s@
@qo
@
o-oo
@6o
o
@I6o
6
oF
NO@O- N O@Of f NOr O O-Oda@No's'N6i-'rOO-O O @ONr_O_O-O_-_ O_ $_O_N_N-OAN O NON
-NO-N O @@roS@ S t NNr
NNT N N @
oNONO O -@o-N@o N NNciciciaid'+'+c;oN@oN N $o-oON6-ooNN@;@ N oi-NOs O $ OOO@N O N NNNN- $ -
NO@Or N o@oNNNOr O Sro
@o@NO $ N@-
-OOro O @ON
-_A-O-o_r- O- S^A-\N-OON O NON
-f o-N O @@rot@ S S NN-
NNN N N @
ANONO O -@O-N@O N NN
ooooo s vooN@oN r sorAONO - @ONN@-j@ oi o-NO- O $ OOO@N O N NN
NNr $ rN-
$ooNs N o@oorrt $ N@
@@@$- O NOO6OOO - rOr@rOO S @o@d<- * a @o@o@ $ N o-
--@_ O - -$-
ooooo o oo@o@oo o oo$i@N-$'@'x-"ooo@o o @No-o_c\ s- $- $-N-@Ol.- @ O rONOs r N $@F N N- O r vO
N
be-o6E-q?;of
vaOO^, 6 - at Y@ (t 6 :qO .. o Exo O c? o.!go c !! o c:5> o Xo o-o E q?E; 5 Eo oolgLr; co&nEE8s=a 9:sefS:9Y'SEd.9o96",^-!sEY:>aEe:fiEtEtH-xptsEE#E6rit;e:<Er_*_-a6=v C o \oo dE O c Xa@aL=f=Ort=<
Er g $#g€;E E{c>oaocoac(ooo
5O- rNN@OOO-NOoOO@@@@ooooooo$svs+*${s$t
s$o$Nqc!q\qrocOOOONNONO-0_@_@-LN O O N N6@ @ o N ooN @ N o o
-NOONSE3--NJo
o
=I roso=-oo@I +o@+>@NO@FoNo@LSrr$6o o $ Nov N @ @
'NOrOO- - N
=@
N
F
s$@$oc!q\
-O-@OONNr- o_ o- @_LN O O N66 o o NoN @ N o
-N o o Ngid' &
J
o
o
=9ooso=-@ooI +o@+>@NO@FoNo@LITNIoo o < No$ N @ @
-N a r oO- r N
EO N
F
@ooo+N@O@O
-N-ci -@4$N@
-_ @_ N- O- O-L$ r O O O6N @ r r $OoNNNN7n-OO69 $
6J
N\
NN.
@N
o
=F--osE6No@: +ddo,:6NNovooNNgtdo o q6-$ooos N $ o
'O-NV@- {
E.F
o6U)
6
=!c
oo
oEto
ao(,
o
6oOE
.\ c
otr3o=oa.vt=g-.:! o .oEc-
rtqDo6Eoa
otoooo
@@o
oo73qootopooE.NU';!cooo
6FCop'6ot
ooo@
o
oN
o!
Eoooo
d. @oooo
Oo(Jo
F \t-uJoo
€!
$qr
q?
6
l,u NooN) oo@rz NriciNtlJ o@oo
tu cdooot sNN(oo- @- 0- o_g FSHRooo
P ff BBBsE fr BBSH
- J O9OOI H 3.S.H_3_
- NNOOO N@oN
=NsF
zo
P 3;
=; ;E 93 iisgZnso t ffioc')oLLr::lzJ IIJIOo
ulF
FU'
oqoo
€N
ooN
Ff
u-o
UIF
FU)
uIo
tUIU'J
e.
d, @oooo(.,aOo
.$Ioo
ul rooN) o@@Nz NriciNUl o@oo
uI @ooot <.NN@o_@_o_ o_
= -Noo!+ o66Nl<Noooo
!r ff BBBSE tr ssss
I I OOOO: H 3_$_h_3"g NsHe
zoE ?U II 6? E; ;H E3 iassZto +trou)(JuJ<ullzJ lltLOouF
Fo
4 G'ooo: c!o90
d, oooo(JN(J$
Iso
E ruoooJ OONOZ ri oi;6itg o@ss> oooou Nodot NN@o@- o-F-s-il E!{s$YoodI
E o o06@.9 Y qq\c?L + $O-Nt g :_S.ss.z # SR8BE 5 3R5.1L $NF-
o
zotr oul4 ro -e 3t Ea ;H I3 ilssZuo +Eo(/Joul<f ulF2Julu-Oo
uJF
Fa
l,JJ osN@oNosNorN) @N@-ootsNsoooI oN@o-@o$roonlU 66$ooo@so@-o
lJJ sioN-j@@o-jo@otsE $sooonD-o$NN
^ C! $_ -_ (O_ O_ O_ o- a- N- O_ N_ (O_
:;.| @@roNrooNooNS som- -so{
oJJ
F
IJJo
trC oo@s@so@-ero-UL so@NoO-O@rOort*e OoNOO---NN-\tFq= s$oN r-o$oJF
urE>EllJJ Str5oFur 92
aoJOJ(,
ltL
d.
F
-J
FtD $oNrooroNroso* Nts-O@@NN@FOOLil o_ -_ 0_ o_ r{'_ @- r_ $_ N- ri o- o_'
= @@@@OoOONO$-
= oos$ssf ooooo@(J ooooooooooooFolooo
k --X oo)
= sA!
-g-3,gEEEO == = o O O O
=4-<oozo
6 XsfEo-! =sag
d. $oo(Jo,(Jo
F()IUo
sno)|r)Nt-
ul -N) oo,G ;s
uJ -oit cqr
fi !NYood)
sso,Lr)olN
O O .6LE UJ =b,94E ft 8S
= f -otI H 6"i.
G' --i
zoE IJJk e-H t e'A oH IZ Z-roErd E#E8H>tu_Oo
lIJF
Fth
{ sB? go()o,Oo;
.oFtu(J
tjJ F L) oofr ;€
tlJ -ot r.)r
Ei NN
Yoom
. ft 9bE g sHO f __:oiI H 6-=-d -r-6, --
zoE IJJk 9:
tr8,!Jn oH g
Z z -t<92 td =fl68HYut9Z> LlluOo
UJF
F.U)
* K3
v.(J(o(JN
FS
UJo
lr)oj
@\N
lU .-L) $(oi' SE
uJ oot r.-N
- roNoltJ - e)
Yood)
E o rNf; H EH
EE i$
Jo
zoE IJJko-
tru.!
"4 Z -.rclErd E*58H7i'u-(,o
IJJF
Fo
u @@cooroo6$N<o@rJ FNOONSf rrrtf)O$Z dAi c.i+toF-ridoid-siUl OrrOc')OrN<NO-O<i$
uJ oooo-roo.icorrrt-rrrot Lr)(o$o)rooo)o)N()F-F-
O r)_(Q_(r)_O_@ (O rO $ (-o oO r-rO-
u
oJJ
F
UJo
gC -cooooooooooo+ULL cO<'OOOOOOOOOO$lIL - cO@(QO- OCOS(r)@O)(.)(g... tr (o(oorr)@o)$o)@r@@oH S (c; o.i cd ojd _ _j Fr o.i _c.i (Cjc;
==
ro \t \i- (o (rJ N N r N co $ rr si
lUE>uJI,U Str6OFlu u,>f
=o3oJO
TLl!
d.
FJ
FI 9gP5KgRE3SSN9li oo6(o(o(o(oscosro@'
= NN NN N l'.- F.-t-Nr.*F* N
=
c{NNNNNc{NNNNN
F
U)f,o
V'o
H o)o
= L-o-otOcc.lY: o d)o; > oo(JoO@ozo
6fol>9 >6 ==2--
H {-=EoE!:6 0) j.Y
-[L=
f$ll;l
ots o
r-:N
oo oN
O- ooo ooN ci@
6_
@
oo ooo oo@ oori o
oo o{
os o06 0oo o@o
o
oo ooN o06 0cis o
o@ oN
.q
=qEa.^6a!UZOU
ocici oi-N@ SO
dd {dN NN
@oo @tso$ No
fid dir
ooo oo
$no ooNNO @-oodd 6iNN@ OSs_N_ o-1nN soOO -@
@oo600NNOdcici
ooo
OS -Ndil N:ts-oo oNsi .j rt
@oo N$
oNo ooooo N6ci; ci Gi eioo Nvrt<' dd@o @o@r @O
o-O ON-OO O@ONO SFooo oo
@oo o@@O -@oo @-@@o o$@O O-NO OOc.i .j d
f,.o bsrN
.q
EopL 6op!FL>OFL
Noq
Nd
8E
oi@
6 . .q
SaEado(Jo
N
@
@_N
o
N
.i
No
N
@o
c!N@r
6 . .v
b93Ea.-Etroo
N
@
@@o
d@
6ts
--@_
oo
-_N"
NN
N
stso
@NO6id@
N
@s@
o-o;I
El
zoEk
o@ry@-
ON
oI
o
od
Is
l
uJo
FLf,dtUFz
E C6oo4 oNOO? ai +oou oo
= s-q-< \o-L
9 oeoo
E ONud-It_F-ouo
P I oo
=oFofo
E ooooz voooB RBoo
= o-@-< E8o-,jd
P SR83E ONOO
[ <igoci
I g$ooE O@u.l ri oiI @$Fr
(,Uc)
P s ooUr
=oFof(J
E oroo4 6000? cidtociu @@
= s---< 88oo
-- ^i
"' O@OOF 6600E roOO
E @Ecjcj
I -oooz NoE $@U;dE @OF-
oUo
P s oour
=oFolo
-@ r<o x\z-v:o; E*"=e-A - * Eu=!LzLLoF!!<rFo
oz
=.^OYT,E
9 2.9 ti> ^Eb E€-AEu aLLzo<[Fa
ON
NFot--sO-
-@NNet ciNNoooid
N
8Xda@o
N
rN@N@C@oort6iNN.
UJer
EE EU c@ t\z
@ @sN N@d ci dts $tso oosIN
zotr
t_ 6o.= E
@-a trzp, ,. 6<!=YOtF
-@@ri oi riooNNNOrj.j@o@s
ONONN
@oo SF
t'aiN
N@NNOOci<dONN
riodNN@@ooo
@moo$- @_oooo
oulzU
Ut,ouNt
ozU)*
Uo
d_
@.9 .
<# EuXi.^Xz do6Uo
6a
Nodo
o
od
N
o
Na-NN
@c!oo@rto
IPI
lElIg
tEt
E
tso
@dNO
c.i s
c! @-
e@
aiN
FNdiil
ON
a!_
NN.jci
N
ozoa
o
JJ
zotr
az
a
!J
UJ@trLldtuFz
HIoN oos oo- O@
dN
d
oo o@
do@
oN oo@ oos o
N*
N
@
o+ ooo ooo ociri o
o@ o
N
o_
N-
oo ooN oci ci ci
o-
tss_
o@ ooN ooN odd o
oo oN
|j
o-
E
Its90,^ oo!UgOU
oNo s@o$o so;trid @@
c.it' doOO NNo_- oo
N-O O-oo @@@o @N
cD N ftut
ON @-
ooo NsNNO N-oNo N6i@r @NN_N- O-@-
{.j vr
o@ @@
o t' 6io
N I OtO
@oo @N
N-c, @di
+d rtrt
OO @ro-- d6
ON O-N N rirt@- @OoN o@@o o$_
EgE
9At= OAr:Fr>oFI
oN.io@o
N
No
oN
oc
NNON
o^=
bPa-- E
doc)
@UlzU
udoUNd
ozu)oU
dU
N
ts
Ai
Nd
qE fa9 EdY E
H#s5o
@-
ri-
o^@-
@s@o.j @_ONON
-OONoci@@
{rtooN@ftFj
so
od
c.i o@
@NOdis$
-_ c\ @-
od od -jON
ooNqc!c!NOO
@oo
.jao roN@so@d.j @
o-o
dIsf
zotr
o
=o
06
I
El
UJ@trIftdur
9 6aooa 66c o@Uq;I NTk-ouo
! NOOOz !_600? aiddciu osE N.$.< E3@@dot
',' O-OOE Ng88lJ aiscici
I ooooE OOu oo- -@F N@<-(-,uo
E oooo
3 Bqoo
= o-@-< 59o@of r-:
r" FOOO- 6<OOE 3!33
I gxoooa <<uddI srF @o<.jouo
-a ?
tzE E
*z\ > tre=EooosEu=![zLLoFE<[Fo
$N
dd$@NOosiNNo- o-
ooNON.\oo
O- --
6@.:\@oNO
do$oo@+N
ON
-- O-
SN
\o-Nr @
woqo{@oN@@^ o_o@
o-ryOrN
N@6ooNqnry
NOO
NSNao@N_ o_ c!
NVO
@- N_ .1
O-N N
U)zoo6!U'=
=-oft{Jr47;9)-
=F+6.L9a
E$
N
ci@Nrt
o-o
JJ
o(,zoz
ttr
o\
oN
o- o-ON
osi
N- O-o@
o_N
NOo@N+
oo@o\o-@+NVN
aarNNOo_ o_
ooNNo-
NO$oqcl@a
QOsf_ q
-Noo
UJ_coEztor ira hL i6 E
r- fiEo,'Qo=
@c.l
oo-
@
@ aN
- ON.: @-\@ NrN rO
r oo.: Alq@ oN@ Oro NoKt rio@ @-N
O rNo @@\ aq$ oo
o ooo ooo_ v-o_o No@ $@r rN
o r@q \1r @Oo oo@_ o-o-r O@O N-N
s o@@ NOr OO
o oc;
UJmFZLo
triau i- o2 9.E P
=
*ag E< ZE. -. oF <ET!IOotFF
o@s?a
$$
N@ONoo
o@so@- @_@@
@oqolONooq- N-ONo@$-\N@
N$
-N€i oi
ONNO@^ o-o@r@@o 6i
@oOQooo$of +_NOo6
ci@
N
r_oNo_
atrllzul
uJto
uJNt.
oz.TUJ
O
tilO
t-LIJ; .qa; p)E E_\E El+6 -Ezi<toU(,
az.
x.F
od
tUJFz.
j
dtr
J
@\
N@_ooo
@N
o
N
@oqor@-o$@-oN
o@u?
@
ooo-
@$-
od
\@N
Nq
@
tu()
v.
IIJU)
J
t
uJz.tu
J
FoF
o-ooo@@
o@
ooN@_
ON9qOr@@_o@
ONooONc; ri
o$N
vN
O-o$qqooN
ooo@-o
oz
==u)6v .n). -= Y= z: et ZE.a Eu =-LLz()FE<rFo
UJFt
o
=trtu-F
oulo
IJJF
t
o
=duJ
F
outo
t;l
lFl
l.8l
lEl
t]I 6'=o oa 66E o@u q':E NSk-=oUo
E sooo
< oooou 6$
= N-S-< 33o@do
H REES
d @soo
3 EgooE OOu oo
F N@<--ouo
E ooooz 6000P cisioou o*E o-@-< 5eo@ON
'.t -OOOv 6sooE 3!33
I g8ooE ssu dod- s-F @O<-ouo
o_ ;z.P bo* Ez-i > EEE39fr3tr
oN oqa qOe o@
@_N
ri
oo o@
o@
oN oo@ oos ci
Nr-:oN
@_
ov o06 0oo oci ri ci
o@ o
Nd
N.
oa ooN ooo o
o^
N
oo ooN a9c! qoo o
oo oN
N.o
,q
=e]Fpa-^6@!uyzou
oNo s@o$o so
-dci Eici
-O At
cin: ddOO NNo-- oo
N-O OF@o @@@_o_ @-c{oF ooN@ N-ON @-
-O
400 NsNNO N-dNCi NsiOr ONNN O@,jri @ ais$ NOO- 6Nil.j t'!'
oso oNa@ @@06 00rt{ NdSN SNo$ 90Nt ooNO
@oo @N-NO rON-d ddNN NrON+d odFO 60OO @ro-j @a
@OO @-s@ @NON O-N_Fi rtrtO- OO666d o+N -O
,Eqh
4F6oEr boF:FT>OFL
@
ai
b_
@o
@_@
o@o
o-
No
o
@6
ON
f.EEP
rt-Edoc)
U)e'i6ts'p
=9t>
=oz
N
a^N
si
Nd
--:
d.+
doo
NOri;
o@c.i -j
@s
-jdONON
-OONocio@
s:oooN@ct F:
vor@
dctooNd6
[e-mail]-
oo_ ;N
.jdNoN@
rt-j@N
oo+IO
ood;+IF<f,)z
-PJtoS
=DIx
t9-TYaa,t
o$Nqqaooo-$@NNON@6i@NN@oosidat
ooo@NO.: N- N-rOO
N@@Nrro@drNoO- r_ O-oooo$o$- o- @-Ntr
NON
O-Ort+ 6i
N_ N- O_oN-@
NSO.:qno@o@N@N@Octo @
o- o- slO@r
oao@oNq':c!
NOOooN9ryryNOO
NSNoo@N- o- o1
N$O$r@O-F-'-
N
@z@o
7,,26=>:of:{Jr47
U-J-coi(
r-ElV
E*e9r?
=tAF
JJ
ao
z.oz.
=x.u
O-cqo@@@-o@
ooN@-
orooci-@
@_
o@
ONooqc!oo
osN
+N
o@qcooo
o
N
Oro$qqooN
ooo@-o
oz
*.6y o= p
= <: et ZE,a Eu =lLzoFE<LFU'
FzfoE
uJF
t
at)
=tul
fF
()uto
Fz
=o
=s{
u.l
LIF
9u
6fr
=ul
JUtu=
=EF IIJIF
oulo
FU)
J
oIFzo
=II
J
UJBF
\$
o-N
N
@
si
o-
@
N
o@oooo$o
NO$oqcl@o
oos- @-sNoo
u)dt6
iLE X
fiEo,R
z
I
J
FoF
@ NON $O.+ Nrio o@o Noat ot Ai@
@ 0N- oNr @Nd c{--N -O
r oo-: qu?@ oN@ O-o- N-o-o o@@ @-N
o rNo @o\ aq+ oo
o ooo ooo- $-qo No@ $@- -N
O r@q \a- @Oo oo@- o-o-
- A@O rrN
s o@@ N6.: qq6 00
- @O@ or@- o-@-o osO NNr eO
z.oF
o-y o6e EZP -- o<str!2(JE.F
Nr.:
N$$
-N@qqqooN
oq
$q
$c?
ooooNoqq.:NO@
NN@@$@o-N_q
NONONN@ o- c'l
U)trJ:lzul
tljtoutNt
oz.ulJ
()
UO>E_U= 6ca.y p
iE o
E= CUdZi(D6ozt(t()(tU(9
o@qa
o- o-N@ON
o@
@- @-
@@
@oooo6i40o- N-ON@@$-\N@
ONNO@oo@r@@o oi
@oqu?ooo$NVoi oto@.l o-N@
oztF
06
trulFz
jttrJ
F
F
$-
o
eioo-
N-
@N
ro
@
NNq
o{
ao
$o
N
o
u?
N
oNd
INN
lL(.o5INL,0OE
o{1,o
zttrg
ou)3a
3b
FUIu) trtuJ5
o=
ax.ul
u)iztrobofUJo
tro
t
3E
JtoZ-<Fozo
tEo<<ruJ>
.EFL(/) ><5
Eal
io
o- O O OON OO OO- oO O O <' O oO OF O - o- o
=
OOOOOO-OOOOOOOOONOOOOOO-OOO
r @ Cr) O - O (, O () O - sl' (f) N O O lf) N CO (v) N O) N o) O () --N (.) (r) (., C.,
r F- C) O - O $ O O O r ro (f) C{ O () (O N (f) (O N o N O) o $ -rN (O N CQ (f,
s I\- (O O r O (f) O O O r rO (f) (\l O O - N CO (f, N O N O O tf FFN (f) S sl (o
Lr)
ol
o,
(.)
(oo(r)
rfocf)
3
3
c
f
o
C
C
C
ooooo
ooooo
ooo$N
ooo$N
ooo\tN
c
I
ro
N
roN(o
N
co
o
(f)
o_
F@zEutIUO
=adP6;3i
=daE
oo
t3[
Jtroz-
-I<F<tzo
E,
lU
-IFL@i<6
I(2 t-
io
FU)
3
C\,1 O) (r) o - N o) N l'". @ \t N st Or - cO $ N @ r (o lr) O (O O, - \t<'-rf (O tf)N- O)(O\frr) --O-@N NCDNOC{(o @_ (r) \ --C)tO d)-t+N-(O-F-N
co @ rr) O (O (f) (o \t O, N - O r cO (O (O @ O (O (f) (O |f, rr, O lr) cO .tF(O- Orv@N --fC!$- O (OlOOrC!NO@(O-N rr) @_ --$- (oF-
N
ro @ - o (o (o rD sl - o \t 1r) - o @ $ (o (f) ro ro (o F- o (o s N F-O) to CD O) O) (O @ O) O)c.) F- O lf) @ (O sf - cO $ F-@ O) F- N - l..-
-- t(r- l'-.^ N- (f)_ N_ Or- rf, ,r,_ \ \ ('r- rr, (f) F- O) O_ c.{ or_ (O- 6)_ -_ -_ N_ lt-_(\l(OF- @ tar(.rc{ $(Oc.)(v) F- @F-O@O)-oF-(OF(9 O (O N- ro-\f@(r)
O) O) - O - 6 (o N lr, @ N t- \t r (r) (O N lr) F- (?) O) N :f o) |r) ro N
- O (O (O O, (,) @ (O O) @ - o O) @ (O (. N I'- O $ @ l'- O, N (o (ON F-- N (o F-o)rrrtI) C)F-(orar(fJOO) o(Y) NO @O tf) tf) (O
o.i<>od co @c"t6i {t-<.rc., cri odN-jotot^loco+r(g O l.- N- (o-sfco
(f,
t- t- (o o t- ro N (o $ (o o F.- ro o, o) N o lf, C.) @ N c! o) o) o <r, -(f, F- t- rf, O) c\t O F- o) N (o sf o @ I'- (O N \f lf, $r O) o - (f) @ry N_ cr_ ci)_ ry cO- o)- ri @- -1 \ $_ rr) cO @- O) -_ (D_ (O- c\l o)_ <l- (O- o)_ O-N(O@ @ F*(QN $l'-(r)(f) $ @F--O)O)(OO@tO-co o I'- Ns @-$@
CO
(f)
@odN
o@or-
F-o)
c.icf,o)
oool
cf,roo,
ocoryo(oo)
rf)(f)
6
oo
Ni
f.-N
c\i
ro
(f)
oi
rc,(f)
6
oo
N
t._c!
cri
|f)(r,
c.i
(oo)oo
-SN-
t.-F-N$-or@(o$(f, (r_ F- $- o_f.- F-
F-to(f)o)Forc{Ns(f)ro-co\f:
F- F-
(rN@(ooNF.N@O(r, tr)_ N l.-- --f.- t-
lr)@-(f)O)NNi.-$(r)(f) tfr_ N @- --F-N
6 (fJ!o
oo{t-N
(€)o(o
Nol
(o|r)
NC{
@rf)(o-t-N
t.-
dN
(?)@
t-
oool
(oo,
@@o
c.ioo
t-ooo)o,
U)t
uJ
fU)zoo
r2zt=u,,,o
* ;st g g : s g ';';u=c
=
H ; ; g ;
=p =
ss s E
I
Fl
J
FoF
)E
l
oI
o
J
FoF
tu,FU<zzlS*6uli!<424y2)Jau)-
(,z
=o
=J
FoF
't)
v.
JJ
f't)z3:)
IJz
5
Js
?
lz
YI
ssssss\olc!\qqrrrjN(oc{@(') | rS
@-()'.\\$r)soN-
-- $- {'-r lo a.-@tfi.--
.roXo
=6:ioi:o
=6,=o
f.-F-cOOo?c?c?qasNrf(oot'-o>tO(O(o_@-ry$-r)-
o(OF(f)o(Y)Ng)00o')N-NCD(O() r)N0LC)(!-o
o(sJ
o)q
rr)toqo
oq
N
co
=F o 5<o,o oE r@NOo
= dddN@,i oo6orrv @Noood-@<r)-N€TtN(Oo- - co- cl o-F- 6NifLC)G-o
.9
F
ooxu.l
6Co-gAPc oqo oFooEx co6w 0)Etr o c y-7 9.ootii9o ooXo(Ei ,r'E E E.gge,I*g E99.c4u)9(,; d diEE E Eozraa6d9==ozooo
{o6@(oq\q?\qN(oI'-()rl..{rcr)cD(O_ O- r_ O_ O-coorNr+oNO@()O(o^o(o-60-(o .{-o9l I =9ru;,i o
e3:o
(ooooF-q\u?a\O6(Or-()OstF-rg)*o(.)0,
nFoiod(Oo-N@I-_ 'f- O)_ (t_ (O_.(.-(or{.NL C) -() C{ $(!@6,
o(!J
o
oE
9 oC-r..--4 OO-NNg cid+Nc;
F F-$OOOdFjd.+-@oo@$O\t(O-(Oco co()@L U) ONN(EOo
.9,
F
6
o)co)oEc6o.z
(E
.o,E
E
oox[rJ
6L0, .9H rEo a=x Eo,^trJ otsi fr.E , ,r'=o OiJXd6ooaT=-.
Bi,ru E9*c4o9().: b 6iEEEEo=166(E6.!2f,fozooo
ssssssF*F-O()OCr)F-+c.iaisi+r(ocor
c!ocoo;
o{
N
+(f)@co(oq\u?\q?
N(OF-()rSt-oo(OO)-OrO€otFj{o1..-o@()0(o- o, (o- co o-(o$93 I =fi3
:io
=o.=o
COOCQoF-q\u?.t\
@6(O-r()O{'F-ro- +- co- cD_ o)_r)No)oo@OrC\lOF-- *- Or_ CO- (O-
+-O.+NL C' -|r) N \f,(E0o
o(!J
o
o
=I oS-x-
= oo-NNI ciai+r..-d> F6OOOF N$ooo(ot-(o*-@oo@{O\t(O-(O@ corf)coL N ENNaE()o
,9EF
C)oxUJ
6LOOAFc66o otroa=x codlI qts
= V b,,Ipo ooxd6o q=7=^.
se,ru E92c4r.rlEdebb
o_ g€ 6 6OE! 6 6(6 6.9l f, fOZOOO
s@t-
+
6jo6
.{-
o?
coN\N@go@F-
o,o)
c.i@
a)I.-
No\fIt
L(U
o$oc)ooo
ooc(EtroP
>,.=c(U
8.=c9
.!Eoo(u..i=oEk9ao!9*o;
fit
E
=o
oo
N@q
N
e?oo@
No
@
o
d
N
N
No+Nqo
c-!oo
o
oooqoNo
No
o@G
o5(L
o
o
Eo
o
oio
o
o
@o
o
o
l\qoNo-
=!o
O
6
=I
c.o
6
U)
oEoo
o:
lu@_6ovEOo:oEOoo
Lo
oNIoaNo
-
t\o
@
aro
@oOO@Vor@Ooqqgq,,q,vrNNO-
$o@oNod'a*+o@@@NO@oNvo@oo-@-o_r-N-O_N_$_N_o_LorNONo@@-rOGN@ONNTONOT$oNoo@NrNN$N@>o-oairtodo@
6a N o I @@ 3GJ
o
=9x6-@oaoN6oo-'6o6-oooNoooE +@ria' '@'d6'No+o>NN@-VorO@N@Fi\o@sN@Nos--gdoosotoNcnoo6rNOO@OOONONOrrrrN-A@OOo>o_N@@O@NOO
.oo N N N N9 3
F
@oOO@VO-@OOO@OOo$NNNO-
<ria;d' 'N'ai@'civo@@@NO@ON$O@Oor@oNN@N*[e-mail]@@--jo6N@ONNrOfOr$oNoo@reNN$N@>o-joNoo$o@loNOS@O@@-o6)
qE
o
=9x6-ooooN6oo
=6o6roooNoooI +dd0' '@'dri'airi+ai>NN@rto-O@N@FNo@sN@No$r-sdoovo$o-NNooorNOO@OOONONor---Nr6@OOO>oN@@O@NOO
.go N N N N9 3
F
o
=H o * o N @ o o So -Err@ONoo@o-! oioid' ' 'o'rioi'eidoiNi@@@@@oo$@rNO-oNNOoNOunqlo@ort+@oGNr@-OOrO-@ooNoN@$sor>--vooooN
,2NONEF
o-oS@rOo6'o-qqc?c!, , c!, -o oso-
rooN r dci'(rioic;NOO@-OSoo-OO@ONONNONNOqd<doqr.oooN@NdoNoNootNoNNoN$o+ooooN>Noo-N-jNo!-NN-N6G)
o
oc.o
EoEo
od
Co'6
.9E
c6F
o@a@
A'=-O+:?ooo:.^ E o()o;itr
Y=>OOEU>d6 oo331 66H H A PP99- 55 0
^--'-oo6d)o< 9.9 E
dd@cE-.r.10ll:-- - () i
/\.\6-(Y--=."-aDl)aaa,-^
aa-_!90v,,qJTHts99t'Evvxo=:h_!66aE,q,q.Ea::bi;;!E6 6 j i 6 6YtzzLuJoogo
ooooQoooooooooooOOrO-NOO$to@@@@oOOOOOOO-60666006
o
6co-o-oc
=c
'a
.9E
cgI
6(,
656z
oo
o
o
6co)3o-@E;P=
=_o-d9o'-i .=
-oOGiIo
66(, (,
EEfloozz
oooooo
oo.^ox1
Odo-Exour6=oco-a=du9E'!P
o. =Eo6.-6GO>H >>9>(, dE6R_ _ ar;o o,x"
==:eaa9=66iGLrooz
o-oooooooooo@@ooooaorNN@
x
;1 [.1LCqo
E(Jo:loEo,60_O6
L-E(!o0)oof6oEoL
IL
aD(!o
Operation Supervision and Engineering
Distribution Load Dispatching
Compressor Station Labor and Expenses
Compressor Station Fuel and Power
Mains and Seryice Expenses
Measuring and Regulating Station Expense
Meter and House Regulator Expenses
Customer lnstallations Expenses
Other Expenses
Rents
Total
This Year
1,440,850.69
262,128.37
2,O16.64
797,654.95
154,416.51
306,173.96
377,496.76
859,737.00
Last Year
't,384,292.07
21 0,302.95
1,718.40
914,1 69.93
157,220.93
375,274.90
359,886.87
1,064,505.58
This Year
1,374,224.44
257,2A5.13
2,016.64
741,930.02
142,892.36
295,377.02
334,908.53
777,854.96
Last Year
1,318,177 .47
203,236.77
1,718.40
862,092.85
15',t,844.28
360,176.65
339,773.61
957,099.'11
This Year
oz,azo.zc
4,A43 24
55,724.93
11,524.15
I 0,796.94
42,984.23
81,882.04
Last Year
66,1 14.60
7,066.1 8
52,077.O8
5,376.65
15,098.25
20,113.26
'107.406.47
Maintenance Superuision and Engineering
Maintenance of Structures & Improvements
Maintenance of Mains
Maintenance of Compressor Station Equip.
Maintenance of Meas. & Reg. Station Equit
Maintenance of Seruices
Maintenane of Meters and House Regulat(
Maintenance of Communietion Equipment
88,745.80
9,288.46
751,956.15
126,416.37
18,564.18
96,062.57
53,360.88
77,947.82
9,256.42
769,257.U
(284,807.05)
30,526.81
79,893.98
80,035.08
85,9 12.36
9,023.13
738,561.38
118,246.43
8,187.72
87,943.07
52,974.A9
75,514.24
8,945.40
761,613.93
(277,8O4.82],
28,392.s0
71,623.43
79,642.52
2,833.M
265.33
13,394.77
8,169.94
'10,376.46
8,'119.50
385.99
2,433.58
311.O2
7,643.91
(7,002.23)
2,134.3',1
8,270.55
352.56
Operation Superuision and Engineering
Distribution Load Dispatching
Compressor Station Labor and Expenses
Compressor Station Fuel and Power
Mains and Service Expenses
Measuring and Regulating Station Expense
Meter and House Regulator Expenses
Customer Installations Expenses
Other Expenses
11,590,377 _70
2,1 06,963.03
20.047.90
I 0,548,731.00
2,398,940.60
J,CO t,J/O.ZC
3,553,1 95.06
1 0.868.969.58
1'1,469,690.05
1,959,488.89
1,817.26
36,562.34
10,028,302.43
2,539,285.87
3,677,936.02
3,356,457.53
10,441,O24.82
1 1,064,381.63
2,066,879.88
20,047.90
9,887,454.89
2,246,376.91
3,406,844.14
3,327,209.62
9.929.278.22
10,951,394.08
1,893,098.36
1,817.26
36,562.34
9,382,295.40
2,451,568.35
3,549,550.88
3,204,950.38
9,523,304.25
525,996.07
40,083 15
661,276.11
'152,563.69
154,532_11
225,5A5.44
939,691.36
51 8,295.97
66,390.53
646,007.03
87,717.52
124,385.14
1 51,s07.1 5
9'17,720.57
Maintenance Supervision and Engineering
Maintenan€ of Structures & lmprovements
Maintenance of Mains
Maintenance of Compressor Station Equip.
Maintenance of Meas. & Reg. Station Equit
Maintenanco of Seruices
Maintenance of Meters and House Regulat(
Maintenance of Communication Equipment
675,938.02
85,434.ss
9,207,102.6s
1,987,643.61
902,993.69
769,823.08
611,955.78
78,244.75
8,8 1 6,389.42
1,974,117.35
237,080.38
838,34'1.06
8'10,258.02
654,472.62
82,U'1.72
9,065,966.40
1,825,724.71
121,404.68
821,862.46
765,962.81
592,776.81
7s,596.95
8,637,568.s0
1,775,699.s'1
219,081.31
768,937.87
806,699.58
21,465.40
2,592.83
141j36.25
'161,918.90
94,626.63
81,13',t.23
3,860.27
19,178.97
2,647.AO
17A,A20.92
198,417.A4
17,999.07
69,403.19
3,558.44
13.844.966.91 13.366.386.76 13.s38.235 40 12 876 360 s3
964.11 56.919.846.53 5s.396 262 s9
Operation Superuision and Engineering
Distribution Load Dispatching
Compressor Station Labor and Expenses
Compressor Station Fuel and Power
Mains and Servie Expenses
Measuring and Regulating Station Expense
Meter and House Regulator Expenses
Customer lnstallations Expenses
Other Expenses
Rents
1',t,590,377.70
2,1 06,963.03
20.047.90
1 0,548,731.00
2,398,940.60
3,561,376.25
3,553,1 95.06
I 0,868,969.58
1 1,469,690.05
I,959,488.89
1,817.26
36,562.34
10,028,302.43
2,s39,285.87
3,677,936.02
3,356,457.53
10,441,O24.82
1 1,064,381.63
2,066,879.88
20,047.90
9,887,454.89
2,246,376.91
3,406,844.14
3,327,209.62
9,929,274.22
1 0,951,394.08
1,893,098.36
1,817.26
36,562.34
9,382,295.40
2,451,568.35
3,549,550.88
3,204,950.38
9,523,304.25
41 43663
525,996,07
40,083.15
oo t,z/o, I I
152,563.69
154,532.11
225,98s.44
939,691.36
s'18,295.97
66,390.53
646,007.03
47,717.52
128,3A5i4
1 51,507.1 5
917,720.57
997.20 43.553.459.77 4205A.027 19 41 035977 93
Maintenance885 Maintenance Superuision and Engineering886 Maintenanco of Structures & lmprovements
Maintenance of Mains
Maintenanca of Compressor Station Equip.
Maintenance of Meas. & Reg. Station EquiF
Maintenance of Seryices
Maintenance of Meters and House Regulatr
Maintenance of Communication Equipment
675,938.02
85,434.ss
9,207,102.65
'I,987,643.6'1
216,031.31
902,993.69
769,823.08
61 1,955.78
78,244.75
8,816,389.42
1,974,1',17.35
237,080.38
838,341.06
810,258.O2
654,472.62
82,841.72
9,065,966.40
1,425,724.71
121.404.68
821,862.46
765,962.81
592,776.81
75,596.95
8,637,568.50
1,775,699.51
219,081.3'1
768,937.87
806,699.58
21,465.40
2,592.83
't41,136.25
'161,9'18.90
94,626.63
81,131.23
3,860.27
19,174.97
2,647.80
17A,A20.92
19A,417.84
'17,999.07
69,403.1 I
3,558.44
58,606,964.1 1 56.91 9.846.53
o@V@N-ooNooodiri--didi-s@o-@L@-N@oOq siotriri !j
od
q'T
6o @-oosNc OO@OO-'F aidi-ri6iaiE 60g LNoo@or<:I N o 6o o5; o r
.2sF
OS-OFSoNoo@sN€,+oc,riNF@O@O
:qNo$o-N-:iss6oo$iNo@rNo- rN@- r
dCJo
!
P oosNssq ONOTNNr eioioidicr6id Nooooo!TNOSOOOJ q +N 6i-j.jo;.or@NONN>-NO O
F
AOOFOOo@oo@tsooddvaioo@Nos: O-O-o--_N-N_:YN6o66o\-N@ONNO-rNO- -
6J
6
oF @NN-@@OeoO@@
-ri-ciddrOOO@OL666NNr:YN666No.vFNNONO
-FNO O.9 .j
F
oooo
'EofcooQ aB * -^9ou t=
d.€EBEq,3&P<! oX O d!coduq=EppEyq
o6.lroyo9-;9= o 9@>oo:f,
vs@qc!q
@9@o@o
s@o@oNGi ds@oo
-_ .! @-rN@
sridNOO@oo6id6i
o-
@ooOOFsidi-@@@oQootodN
oN@cql.:@oo
@N6cto osao
d
OOrq.:q
$- s- o-ooo$oN@-F
o
coo
Uoc
ctoox!u<
6a'4e
.9 J-E
b.9693€@t)E
F@Oooo
ocEcU
Eo
=o.:o
'F
SN@@NN\qqc!.:q,@NOTONooN@-OLOOS@N@q @ ot+@ +=j.vNoNo @
6J
-ooosNr@NOO-dsddriri'@sN@oo! N-O @-O-N-O-:Yooo6oo.-ONN6 N
F
iioF -OOOO@NONNO@oioci@6ioNONOQ@! @_o-o_o_s_N_::@o-@oo.-oNt$No-NSOOOO.g.jo il .t
F
NO@ON@6OOOrsd6ioi;oiri@NOOSOb o o o a!o N::o@@NNo\-sOO66O-NOOOS@6 "jctd=i -J
O@VOO-sNS@SA
-oiri-oidTtONOOr@@OO@@q! ddd.'irtd.o@O@ONr>NOO@OO
€ '-"tg N-
F
sNS-ONoo@@N-cid6i.ioiqiN@OO60: o-S-o-O_O_O-::roo6NN.-$ooooo-NN@-V@;,jdd; _
J
Iaocoo
'Eofoocooq as Hr* 4eE frtEBn.F s,3 8-EtE !OXO.tI5Er: sE5:E9EE:Eea:F6e:9 0 6y 6 y o& +6 3 E g 3Lo>OO!foE -ooo ooo! ooogFNOOOV?ooooooo660000
oNo.:aqs@oo@oo- o- o-NSN
N
NOOoNoci ci ai
o- .-: o-NNN
N
NOOaoqc!@@oN@SoNotsooi
s o-@
a@@so@dsdNOOO-Oo N c.t't@@sN@|j
soNoaNon6
ot6ioN-os@@
a@@u?\qoo@
-@O@N6rtdotboNso-@
N
o
coo
UoCgqCEoo
U<
ds
=<9
b9d
@o!
r@ooooooo
SN@@NNNOONs@ci6id-d$i'OON@rO!O@$@N@! @ o s ds -j.vNoNo @
o6
i56 -OOO{rtr I@NOOI'F @$o@ooq @gN@ooO LNo6oNoi q dd 6tcto o5;oNbo ts
F
NO@ONOA@Ao-$d6io-oid@NOOSO:oo-O-N-o-N-::6o6NN6.--oo6oo-NOOOS@; - drt-j .j
J
OOSOOs-NS@So-otd-ordi-9ONOoL@ooo@@1!idd@6ict!d-D@O@oNr>N60660
.a -o @_ N_
F
TNSTONoo@(gc!:ooNNo@N@OOOO> o-s_o_o_o_o_::s@o@NN.-+ooooo
-NN@-tO6 -jctd.j .j
J
toF -oOoo@NONNO@otarddoidNONOO@L@[e-mail]+No-NSo600,g-oN N
F
I'6oo
o>.Eol60cooq A., o qs Eff 9Ea go 9o dP rilPEo-Q.f q8 8.e<E LoXOn!d c ! d u q;:.9qic,ilf
=o-900*o9e:F61?=Y O oi O Y oE 36 3=e 3uo2OO!f,oE -coo ooog ooo2-NOOOS?ooooooooooooo
oNo
+drio@o
c.i{F
NOOqc!qo@N
O- -_ o"NNts
N
NOOaq.!@@oN@SoNoF:doi
so-@
a@@ac?q@90NOOO_ r- O-ONN
$N@fN
o@osoNoidN
otoios@o
o@@oN@ocici-@O@NOddoaoNso-@
NN
ocoouo.=.9Eo
!
oco
l
g
Ecoec
o
oe
u
o
E
osodE
3.0'sa
o3tAoEo
dB
rf FN$@N@ rN@@@N@NN r$
oooN0aN @oONOO-NO NOL 9-N-O-O-O_O-O- @_O-tg@@oovor @@@N@OO r OO>.$s-
c@o6
0
aiio $o@Noo@ Nstr c!c!o?1c!..4? oqq'= @eso-oo osE @o@sNo@ Ne9 r O-O_@-O-O-O-O- O_$-aqo@rNooo ov(.OO-rNrrO OO->$Or- N
.9
F
-Nooo$N NrSroNN@@ -$ddciddrid' '6iN@ooNoo@ @oL$rOO@oN NNqodooo-o -N.oOOOO-@$ OO>O@OON r OO
f,soric.i -j 'j-jd "J
Nr@@o@$ O-OrrOO@@ O@ooN@@oo o@ooNo@No ao
- @-o{o-o-o_c!o- N-$-6NNNo@Or ooONNOOo@N -o>@--r-:o-o o_ o_ooOOOEF
OOF-to-a OoNoo{$-@ N@ciN@@+oi+' 'oo 'O@NOAFO @OL@@@OFF@ @-qN-$oo-o o{--e@NTONNN OO>Orr@N O OOt:No(i6i - --H *-
J
6o^F -o$@@@N NoOS-VNOO NOrrN@o@o @$o@ooooo NsL@oooNoo ooqooroioo-j oo.oov6@-ro oN>-N@00+ a ooO@OOoi - .j-EYF
aa6aoc-ao ox{cA F 9E gEVV qE,IEgE .12.E,fF,E,i:. , HE E c,eEfisEEgE.CdI U e I H8-.Q b e3F*6EpE",iH;,;E?;*e€*E
.! o-!.:Z O O .== X o ococooEg*xo=iSiEE=lEeBge
E
o rql!lo-so$o@ooo-VNNNNNNNNOOO<fooooooooooo
@NSN NO @O
-eN@ Or NOoidci-'c;d''ddo@@o No ooLooNo oN_ o_o-6ro6@ r oNONO- N
coo6
Eai5 ro@@OOA OO
=' oo-r$No NN'= +d-ci ci$$' 'Nol: 6oosNNo oo9 - o-o-@-\-:- o-N- N-o-
-E@OO- rN Oo5 -a r o -o
.9
F
N0$N@OO @No6@oo$o @@
@ooe@$N @NNOON@N@ A@L @_@_-_@-N-O_N- i1@-
19N@N@a6N o@.@NOnOO - O@>-o-NN r Nt"--6J
&o6-oo-s voooooNNs o@d@+Ndsi+' 'rix's$NoNoo oo
- N_O_--@^O_O_N- O_@_
6NnO@OOO N@OF..O@o - o@> -{- st-.oN
F
os6'tooo Noooo@@QF VNrrdciN@+N"Nci'600000s NoL e_r_O-N_N_O_O_ N_O_6+@oaaoo @ooci-@oo o o@>oNNo - N
6J
6o^F rOVNO$O NOoNNO@$O OO
-No@@@o O@ooNoooo ooL o-S-@-N-N-\O- o-@-6o@oNooo oF-O@O@N rO OO>-sNN r
,9N
F
oo6@3*296 P
: KUJOJ4.EfiF
$EseH
E3 E€.,3E3g:ts o >lr 6; d =\ c;8fr'Es.9 ;5 6 9i.e
= c oc x c.=d) o O.= oco-oaO>tr
5qlOO@OO-NNNOOOoooooo
Eoto
cgFoo,igEo.o !!.>-;Ea7i:o=EaV.cp 6c@o
EIE<o(L
fifrE8.6Xau
6od
EE
3-&afi.EoEO
<o
o
TBS
E"
UI
6
o
=o
o,F
{-N$@N@ -N@@@N@NN r$oooNooN @ooN@orNa NOL o_N_o-o-o_o-o- @_o_6@@sosor @@oN@OO N OO> s $-=
cao6
Il
.9o6 SO@NOOA N$E' c!c!qac!-a? qq'= @o{o-oo ooE ao@$No@ NooL@o@oooe o$
lqo@J6iooo oq5-oo--Nrro oo
-SO-r N
,2EF
rF-OOo\tN N-trDNF-@@ r$
oo@oao@ ' 'NN@ooN90@ @or$rO@OON NNqoaooa-je *jr-uOOOOr@{ OO>-4@OON OO
6*99. -- -j=i
6 \-J
J
N-@OoOS orO--OO@@ O@o@N@@oo a@ooNo@No oo
L @- N- O- O- O_ N_ O- N- r{'-
6NNNOOO- oOONNoOoON -O> O---r-o-o o- O_O
oOOO,= O-
F
OONTO-O O@NOOSV-@ N@
oN@or{.o$ @oOONoO-o @aL @-@_O-O--_-_@_ @_--qN-$ooro o$@iDNr6NNN oo>or-@N o OO
J
-O{o@ON Noc?t':ac!o?q , , \cr-F-@OOo @$o@ooooo NoL @-a-@-o-c!o_o- @-o-Eoo$Noor oo-on$o@-No aN>N@OOt 0 @Ooddcio,i 'j *j-;
F
E *-.fisfiC fr H.*
; rE , sE:EgE
EEgeeEgE€E
EfiEI;E EEfi#,c o c @ o'E I =: o =tEiE,i==se'EEP
:o TqroorNo<6o@6o-9NNNNNNNNOOO<ooooooooooo
$
@N@AON oO FOOo@OFe<*r.qa\qtaa .:q':qq!lqqq,:c!ac!oo@60@ N@ oN@ovaNooo@
-N@O$e OO @rtso-A{No$@$ O_O o-clo- N N @-N_O-slO @ --O O @ @N -AN NON< Ooo
O@OONN @o O9OOo*AF@6FoooOOo Or oooNNNtstsO@tsOOOOOO ots OO@Ots@FN-oNddd@rid 6irt ddddoor<i-oid-
@+@Ooo ON ooSo-@A+oN@a9a?qoqo? olol qaqqc!aqq\aqOO$@OO o$ @@NON@OO@or@O@FOo N$ +NNSO@@OON@$ N@S F $roN S Fo6_6i
NO@N@@ Nb oSO${F@rrNoqqq.t\oq c!oq \aqq.:q,:\q?o!qo6$@@@ O@ OOFN$-OFF@@NO$OON OO F-O@NON@@roeNNO@F NO @NFONO-NOOOo to- -d6irt'j o- 'j$
ooNoNo oo o@oQ-o@@oo@@@@FF@ NO @FNFOSOFo@Ne?c? c?o?6! c? o?ol q?c?a?-.tqq q':c?qo6oo6o F+ oo@F@F@ONoO
AOtsO@O Nr tsONOrrNFr-r\-:qu? e?q oq<q o?,:\\":aoq u?c?aa@@o@@@ oN @ooo@oFsooNOOSFNN o@ N@Ooo@FNr@oo FOe_ r oct$AF O F@-
-9.98LCc-6.0 = > 6eP q (, gSd 55t = €€:g
E EsE EEE; gE 9Bg BE"Y F: E;; E.ip 89 -9 8,9 tr era#FE*.E? u'6Eqq9= q6crE
EE S€ :J E EETT;EE E g g=PS# $5'383E3f .t 3'oaatL oo jf Y
o
l
l
@E
@ooooooNqqqr@ooE
oooF@ooNOOOrdddd
$oooooooeictcioooOo
tUJIl-
o
UJo
6=
dod; <)vO
_83
tsooqqqaoo
ulJ
voo\qq@oo@
C"
IJJIF
IJJo
FOOqqcNOO@N
6,L
.qoa
3sEd-'cEcdb9!o<:
uulU)f
!od5
x.
uJ
Fo
1 lirr<,x.
o
=F
UlJ
a
=Fg
I<ttz
oIF
U'F6uJ
tr,oo
uJU'l
at,
o
IIoFzuJ
=UIF
F
cD
UJ
F
t
o-
=oo
Nr@F@o @r Ots@@O$@Ots@$FtsOtststsQ $@ OooeFNAoNSO$qqqqqq? o?.! q\qo?s.jqqqut':o?OAoeAO Oe @O@@OO@rO@-o
@o@NFF ON @-A$@ANONO@Oq.:.:\c?ol ao? qqac!cl\\ao?ol\qts@oNNO @- @SO$$OONNOO-OOSoNT OD 6OOOON@9@ro{$aO @-@-O- OO 6lO_O_0-N@O-$ONN
O -@O OrS@ SF@N
@
od
I
OOOFOo S+ *FtSO@O@Froo6otsoO$ @@ -@ONOO@@O$OO\\qq(la qa q\\o?1\q0qa":qqooooQo N6 ee@tts@@o6@oo
NN
NrOOF@ sS NOOO@$N@OF@q,:cqo?qq ul\ a?q.:cq.:ol\ela qu?OOF@No @O N{*@OrNNNotsSOFONo OO NO@O@OtsOOFO6^o-o-r_:N_@- o-@_ @-o^O-clr_o"o-o_o_o-@-NNOO@O Nr OOOFNFOSO@@F oo Noo@ o@o
{N$sNr NF NO$AtOOSO@Oo?c!c!r aq oqc? qolc? ol.:\q-o?u?.:@sNO@N A@ OFFOOOO$OOS$Nor@o O@ @FO@O$o*NN@o-@-O-@-O-A- r_@_ o_ts ts-o.:-_O-$-c!O-O-ctNFNtsOO OFOOOOts$@OF
- OO N@Ots O rr6-
OOF@@o ts@ O@S-NNNr@$@F@@OOO AO O-@AtNO@NN@@N@NOO FO @FSN@N@O@O-Or$-@O @$ Nt@Nrt-@NN$<-$oo@ @O @OOONF@O@rOfi -ro- t6iv$'j'jd oi'joo
EE .E.E . I 3,8H, E o 95; 5Et = E€:g- c c - Er'6J 9Y S d o a).E g
= E b,9.9"o B"E 2tb5 3o X.=J o* * c ! - o o o - o&e ts=,9-9 Pe 3"9.F-"- -n tr s"q€ECEi E EE:E**tE e eEssEE3E 3 E3 i' t 35 aa a t to o j r Y
t,
f
P
f
ac
N
o@tsoF6OOosci -ONFO
6i ciu":fJ
oooNFts$Nul\.!r
o
oqoq
@
oaONOFdri
oo
3-o
606o*9_96
@@oc?\q
o
ooo-:qqooo@N.
IIJlJ
@oNO\qoo
rOOqqqooo
6
Ico
o
(n
So-q,rGo
E.4, EccdbsEo<:
oulal2e(, do
t
U
Fa
i u.r'ru4
ooF
d
u
o
trUlIF
oUo
t
U
o-F,UlUF:F<<trooFil
u
ID
d.tu-k
uJo
Nq
q
F-
@
@
oEo
UJx,ooulal,f
aD
o
lI.oFzulE
lrJF
F(r,
uJ
F
t
oEoo