2016Annual Report.pdf

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Questar Gas Company
333 South State Steet (841 I l)
P.O. Box 45360
Salt Lake Crty, UT 84145-0360
Tel [phone]. Fa,x 801-324-5935
Jenniffer. Clark@Questar. com
Jennilfer Nelson Clark- Legal Depsrtment
Senior Corporate Counsel
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March 31,2017
VIA FEDERAL E)(PRESS
Ms. Terri Carlock
Idaho Public Utilities Commission
472West Washington
P.O. Box 83720
Boise,Idaho 83702
Re: Questar Gas Company's2016 Annual Report
Dear Ms. Carlock:
Enclosed are three originals of the Gas Utilities Annual Report for 2016. 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 furd a copy of Questar Gas
Company's internal financial report for 2016. We trust that this information will be adequate in
fulfilling the Commission's six (6) requirements.
V truly yours,
AA "[)Ux"- Cr^r,t{-
J N Clark
Senior Corporate Counsel
Enc.
o3T- C,
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GAS UTILITIES
ANNUAL REPORT
OF
Questar Gas Company
Utah Business Entity Number: 558729-0142
TO THE
PUBLIC SERVIGE COMMISSION
OF UTAH
For Calendar Year
2016
Annual Report
(RGS)(Rev. Jani07)
Questar Gas
Annual Report
(RGS)
CalendarYear 2016
ATTESTATION / CERTI FICATION
OF
RESPONSIBILITY
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.
(1
Signature:
Print Name:
Tifle:
Phone Number:
Fax Number:
David M. Curtis Date April 12,2017
Controller
[phone] Extension:
Email:
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.)
d pudatareq [e-mail]
(Rev. Jan/07)
General Gompany & Gontact lnformation
Company Name: Questar Gas Companv
DBA Name (if different):
FKA Name (if different):
Address:
City:
Phone Number:
(800) Number:
333 South State
Salt Lake City State:UT zip:84145
[phone] Fax Number:
Principle Business Address: 333 South State
City:Salt Lake City State UT Zip 84145
Corporate Book Address 333 South State
City:Salt Lake City State UT zlp:.84145-0360
Report Gontact Person
Name:
Phone Number:
Fax Number:
Connie Marshall Title: Director - Accounting
[phone] Extension:
Email:con n ie.marshal !@q uestar.com
Gorporate Book Custodian
Name:
Phone Number:
Fax Number:
Julie Wrav Title: Assistant Corporate Secretary
[phone] Extension:
Email:iulie.
Contact lnformation
Attorney:
George Marget Title: Managing General CounselName:
Firm Name:
Address:
City:
Phone Number:
(800) Number:
333 South State St
Salt Lake City State: UT Zip:84145
(801) 3245090 Extension:
Fax Number:
Accountant:
Name:
Firm Name:
Address:
City:
Phone Number:
(800) Number:
Title:
State:zip:
Extenslon:
Fax Number:
Other Gontacts:
Name:
Phone Number:
Fax Number:
Title:
Extension:
E-mail:
Name:
Phone Number:
Fax Number:
Tifle:
Extension:
E-mail:
Name:
Phone Number:
Fax Number:
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.
Name Acldress Official Title Salary
Thomas 120 Richm vA 23219
Mark F. IVlcGettrick 120 vA 23219 Director
Mark O. Webb 120 vA 23219 Director
Steven P. Zimmer 120 St vA 23219 Director
Thomas F I 120 St vA 23219 Chief Executive
C.333 S State UT 84145 President
Mark F. McGettrick 120 St Richmond vA 2321
Carter M.120 St Richm I
Michelle L. Ca 120 St Richmond vA 232
Colleen 333 S State uT 84145
hn 333 S State uT 84145
333 S State UT 84 Controller
333 S State UT 84
* See Dominion Resource's flled in 2017
Number of board of directors meetings held during year..................1
Number of directors required to constitute a quorum.........
Total amount of directors'fees paid during year..................
3
STOCKHOLDERS
Report below the names and addresses of the stockholders who, at the end of the year, owned or
held direcfly or indirecfly 5 percent or more of the voting securities of the respondent.
Name Address
No, of
shares Salary
333 S State uT 84145
Total shares represented by above..........100%
Total number ofshares at end ofyear...9,1 89,626
Total number ofstockholders at end ofyear...1
3
IMPORTANT CHANGES DURING THE YEAR
Give particulars concerning the following matters. Make the statements explicit and precise.
Each inquiry must be answered. Only use "none" or "not applicable" if it corectly states the fact.
1. lmportant additions or changes in franchise rights, including the actual consideration, if any,
therefore.
2. lmportant additions or extensions of the utility system such as new structures, exchanges,
etc-
-None-
--None-
COMPARATIVE BALANCE SHEETS
(Utah Operations FinancialStatement 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 longterm assets
17 Goodwill
18 Regulatory assets
19 Other long-term assets
20 TotalAssets
21 Short-term debt
22 Notes payable to affiliates
23 Notes pay - Current Port LT Debt
24 Federal income taxes payable
25 Accounts payable and accrued expenses
26 Customer credit balance
27 Current regulatory liabilities
28 lnterest payable
29 Other taxes payable
30 Deferred income taxes - current
31 Purchased gas adjustment
32 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 contributions-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 Total shareholder's equity
43 Total liabilities and equity
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
7,559,770
1,191
150,225,673
88,645,058
94,107
49,333,981
27,626,129
4,293,858
3,756,430
3,408.362
410,567,644
62,s78,401
2,507,729,009
(812,185,247\
334,944,558
76,816,315
2,806,201,599
737,640,017
5,652,450
18,174,680
3,293,283
1,758,122,163
5,652,450
14,702,619
3,671,409
2,145,377,897
2.195.810.220 2.504.348.932
179,243,305
34,346,357
297,836
6,765,064
1 1 , 156,983
8,490,164
273,300,000
140,834,761
27,887,441
2,955,387
6,916,941
13,O58,142
200,000,000
48,000,000
14,500,000
534,500,000
278,167
1,703,302
428,170,985
23,707,O99
69,31 1 ,'189
513,599,709
1,571,270,451
22,974,065
266,715,672
334.850.032
620,000,000
117,118
77,823,040
475,902,735
18,956,887
199,900,593
1,846,853,045
22,974,065
272,445,463
362.076.360
454,152,672
624.539.769 657.495.888
2.195.810.220
5
COMPARATIVE STATEMENTS OF INGOME
(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
1 Operating Revenues
2 Utility Operating Expenses:
3 Gas Purchases
4 Operating Expense
5 [Vlaintenance Expense
6 Depreciation and Amortization
7 Taxes Other Than lncome Taxes
8 Income Taxes
9 Income Taxes - Deferred
10 Total Utility Operating Expenses
11 Net Operating Income
12 Other lncome
13 Other lncome Deductions
14 Merger & Restructuring Expense
15 Total Other lncome and Deductions
16 Interest Charges
17 Net lncome
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
917,372,395
542,102,395
144,110,958
12,805,655
60,986,811
20,864,958
1,142,859
34.909.109
830,361,169
87,267,268
5,747,437
(401,196)
816,922,745
100,449,651
3,280,068
(365,739)
(15,942.189)
5,346,241
28,280,918
(13,027,861)
30,195,462
64,332,591 57,226.328
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)
Reg ulatory liabilities(current)
Other Iiabilities
NET CASH (USED rN) PROVIDED FROM OPERATING
lnvesting Activities
Capital expenditures
Property, plant and equipment
Proceeds from disposition of assets
NET CASH (USED lN) 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 lN) PROVIDED FROM FINANCING
Change in cash and cash equivalents
Beginning cash and cash equivalents
Ending cash and cash equivalents
64,332,591
47,561,631
52,876,815
319,004
(8,683,460)
(1 ,462,1 96)
24,1s2
(24,299,832)
(40,604,329)
4,128,680
20,246,718
3,417,398
(2,0e8,826)
(15,644,313)
2.133.877
57,226,328
(62,631,943)
39,147,479
955,815
6,275,793
(15,e84,006)
(166,504)
(52,583,559)
35,608,018
3,557,237
15,513,867
9,053,647
36,621,059
6,364,824
120.391.702
102,247,910
(228,848,898)
167,292
199,349,755
(240,378,523)
(10.731.028)
154,000,000
(38,000,000)
(228,681,606)
1,124,453
(251,109,551)
4,773,976
99,317,896
0
(25,300,000)
(30,000,000)
0
(e,309,243)
19,836,938
117,124,453
10.527.695
(2,967,925)
10,527,695
48,791,871
7.559.770
-7-
NOTES TO FINANCIAL STATEMENTS
(Utah Operations FinancialStatement in Accordance with GAAP)
Provide the notes to the financial statements and sign the certification below.
See Aftached
Signature of officer
-8-
Table of Contents
Notes to Financial Statements
NOTE 1. NATUREOF OPERATIONS
Questar Gas is a wholly-owned subsidiary of Dominion Questar which, effective September 2016, is a wholly-owned subsidiary of
Dominion.
Questar Gas distributes natural gas as a public utility in Utah, southwestem Wyoming and a small portion of southeastem Idaho. The
Utah, Wyoming and Idaho Commissions have granted Questar Gas the necessary regulatory approvals to serve these areas. Questar Gas also
has long-term franchises granted by communities and counties within its service area.
Revenue generated by Questar Gas is based primarily on rates established by the Utah and Wyoming Commissions. The Idaho
Commission has contracted with the Utah Commission for rate oversight of Questar Gas operations.
Wexpro provides the majority of Questar Gas' natural gas supply and Questar Pipeline provides the majority of Questar Gas'
transportation and storage services.
Questar Gas manages its daily operations through one primary operating segment. It also reports a Corporate and Other segment that
primarily includes specific items attributable to its operating segment that are not included in profit measures evaluated by executive
management in assessing the segment's performance or in allocating resources.
NOTE 2. SIGNIF'ICANT ACCOUNTING POLICTES
General
Questar Gas makes certain estimates and assumptions in preparing its Financial Statements in accordance with GAAP. These estimates and
assumptions affect the reported amounts ofassets and liabilities, the disclosure of contingent assets and liabilities at the date ofthe financial
statements and the reported amounts of revenues, expenses and cash flows for the periods presented. Actual results may differ from those
estimates.
Questar Gas reports certain confoacts and instruments at fair value. See Note 5 for further information on fair value measurements.
Certain amounts in the 2015 and20l4 Financial Statements and footnotes have been reclassified to conform to the 2016 presentation for
comparative purposes. The reclassifications did not affect Questar Gas' net income, total assets, liabilities, equity or cash flows, except for
the reclassification ofdebt issuance costs.
Operating Revenue
Operating revenue is recorded on the basis of services rendered, commodities delivered or contracts settled and includes amounts yet to be
billed to customers. Questar Gas collects sales taxes; however, these amounts are excluded from revenue. Questar Gas' customer receivables
at December 31,2016 and 2015 included $88.6 million and $91.0 million, respectively, of accrued unbilled revenue based on estimated
amounts of natural gas delivered but not yet billed to its customers.
The primary types of sales and service activities reported as operating revenue for Questar Gas are as follows:. Regulated gas sales consist of delivery of natural gas to residential, commercial and indushial customers;
Gas transportation consists of transportation of gas for industrial customers who buy their own gas supply; and
Other primarily consists of connection fees, royalties, miscellaneous product sales, etc.
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 Agreement and the Wexpro II Agreement. Questar Gas also obtains transportation and storage services from
Questar Pipeline. See Note 18 for more information. 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
first and fourth quarters. The cost ofnatural gas sold is credited with the value ofnatural gas as it is injected into storage and debited as it is
withdrawn from storage.
The details of Questar Gas' cost of sales are as follows:
Year Ended December 31,
(millions)
Gas purchases
Affiliated operator service fee
Transportation and storage(1)
Gathering
Royalties
Storage (injection), net
Purchased-gas account adjustment
Other
$ 102.0
311.7
79.3
23.7
26.3
(5.5)
(0.6)
5.2
$ 82.5
319.0
79.2
22.1
33.3
(3.5)
20.5
$ 136.5
349.7
79.6
21.0
60.1
(1.1)
(45.8)
Total cost of
(l) See Note lSfor amounts attributable to relatedparties
$ 542.1 $ 558.1 $ 604.8
Purchased Gas-Deferred Gosts
Where permitted by regulatory authorities, the differences between Questar Gas' purchased gas expenses and the related levels of recovery
for these expenses in current rates are deferred and matched against recoveries in future periods. The deferral of gas costs in excess of
current period recovery is recognized as a regulatory asset, while rate recovery in excess of cument period gas costs is recognized as a
regulatory liability.
Virtually all of Questar Gas' natural gas purchases are either subject to deferral accounting or are recovered from the customer in the
same accounting period as the sale.
lncome Taxes
For 2016, a consolidated federal income tax return will be filed for Dominion Questar, including Questar Gas, for the period January 1,2016
through September 16,2016. Questar Gas will also be part of the consolidated federal income tax return filed by Dominion for the period
September 17,2016 through December 31,2016. Questar Gas will be part of the consolidated Dominion federal income tax retum for the
full year 2017 and going forward. In addition, where applicable, combined income tax retums for Dominion and its subsidiaries are filed in
various states; otherwise, separate state income tax retums are filed.
Questar Gas parlicipates in intercompany tax sharing agreements with Dominion and its subsidiaries. Current income taxes are based on
taxable income or loss and credits determined on a separate company basis.
Under the agreements, if a subsidiary incurs a tax loss or eams a credit, recognition of current income tax benefits is limited to refunds
ofprior year taxes obtained by the carryback ofthe net operating loss or credit or to the extent the tax loss or credit is absorbed by the taxable
income of other Dominion consolidated group members. Otherwise, the net operating loss or credit is carried forward and is recognized as a
deferred tax asset until realized.
Accounting for income taxes involves an asset and liability approach. Deferred income tax assets and liabilities are provided,
representing future effects on income taxes for temporary differences between the bases of assets and liabilities for financial reporting and
tax purposes. Accordingly, defened taxes are recognized for the future consequences ofdifferent treatments used for the reporting of
transactions in financial accounting and income tax returns. Questar Gas establishes a valuation allowaace when it is more-likely-than-not
that all, or a portion, of a deferred tax asset will not be realized. A regulatory asset is recognized if it is probable that future revenues will be
provided for the payment of defened tax liabilities.
Questar Gas recognizes positions taken, or expected to be taken, in income tax returns that are more-likely-than-not to be realized,
assuming that the position will be examined by tax authorities with fuIl knowledge of all relevant information.
If it is not more-likely-than-not that a tax position, or some portion thereof, will be sustained, the related tax benefits are not recognized
in the financial statements. Unrecognized tax benefits may result in an increase in income taxes payable, a reduction of income tax refunds
receivable or changes in deferred taxes. Also, when uncertainty about the deductibility of an amount is limited to the timing of such
deductibility, the increase in income taxes payable (or reduction in tax refunds receivable) is accompanied by a decrease in deferred tax
Iiabilities. Except when such amounts are presented net with amounts receivable from or amounts prepaid to tax authorities, noncurrent
income taxes payable related to unrecognized tax benefits are classified in other deferred credits and other liabilities in the Balance Sheets
and current payables are included in accounts payable and accrued expenses in the Balance Sheets.
Questar Gas recognizes interest on underpayments and overpayments of income taxes in interest expense and other income, respectively.
Penalties are also recognized in other income.
Questar Gas' interest and penalties were immaterial ln 2016,2015 and 2014.
At December 31,2016, Questar Gas' Balance Sheet included $1.4 million of federal income taxes payable and $1.7 million of state
income taxes payable.
At December 31,2015, Questar Gas' Balance Sheet included $34.2 million of affiliated receivables, representing excess federal income
tax payments expected to be refunded, and $1.1 million of state income taxes payable. In April 2016, Questar Gas received a $35.0 million
refund of its 2015 income tax payments.
lnvestment tax credits are defened and amortized over the service lives of the properties giving rise to the credits.
Cash and Cash Equivalents
Current banking arrangements generally do not require checks to be funded until they are presented for payment. At December 31,2016 and
2015, accounts payable and accrued expenses included $7.7 million and $4.0 million, respectively, of checks outstanding
but not yet presented for payment. For purposes of the Statements of Cash Flows, cash and cash equivalents include cash on hand, cash in
banks and temporary investments purchased with an original maturity of three months or less.
Derivative lnstruments
Questar Gas uses derivative instruments such as physical forwards and options to manage the commodity risk of its business operations. All
derivatives, except those for which an exception applies, are required to be reported in the Balance Sheets at fair value. Derivative contracts
representing unrealized gain positions and purchased options are reported as derivative assets. Derivative confracts representing unrealized
losses and options sold are reported as derivative liabilities. One of the exceptions to fair value accounting, normal purchases and normal
sales, may be elected when the contract satisfies certain criteria, including a requirement that physical delivery of the underlying commodity
is probable. Expenses and revenues resulting from deliveries under normal purchase contracts and normal sales contracts, respectively, are
included in earnings at the time of contract performance.
Questar Gas does not offset amounts recognized for the right to reclaim cash collateral or the obligation to retum cash collateral against
amounts recognized for derivative instruments executed with the same counterparty under the same master netting arrangement. See Note 6
for further information about derivatives.
Changes in the fair value of derivative instruments result in the recognition of regulatory assets or regulatory liabilities. Realized gains
or losses on the derivative instruments are generally recognized when the related transactions impact earnings.
Property, Plant and Equipment
Propeffy, plant and equipment is recorded at lower of original cost or fair value, if impaired. Capitalized costs include labor, materials and
other direct and indirect costs such as asset retirement costs, AIUDC and overhead costs. The cost of repairs and maintenance, including
minor additions and replacements, is generally charged to expense as it is incurred.
In2016,2015 and 2014, Questar Gas capitalized AFUDC to property, plant and equipment of $0.4 million, $0.1 million and
$1.4 million, respectively.
The undepreciated cost ofproperty, less salvage value, is generally charged to accumulated depreciation at retirement. Cost ofremoval
collections from utility customers not representing AROs are recorded as regulatory liabilities. For property subject to cost-of-service rate
regulation that will be abandoned significantly before the end of its useful life, the net carrying value is reclassified from plant-in-service
when it becomes probable it will be abandoned.
Depreciation of property, plant and equipment is computed on the straight-line method based on projected service lives. Questar Gas'
average composite depreciation rates on utilify property, plant and equipment are as follows:
Year Ended December 31,2016 2015 2014
(percent)
Distribution
General and other
2.42
3.79
2.60
3.49
2.71
4.29
Long-Lived and lntangible Assets
Questar Gas performs an evaluation for impairment whenever events or changes in circumstances indicate that the carrying amount of
long-lived assets or intangible assets with finite lives may not be recoverable. A long-lived or intangible asset is written down to fair value if
the sum of its expected fufure undiscounted cash flows is less than its carrying amount. Intangible assets with finite lives are amortized over
their estimated useful lives.
Regulatory Assets and Liabilities
The accounting for Questar Gas' operations differs from the accounting for nonregulated operations in that it is required to reflect the effect
ofrate regulation in its Financial Statements. For regulated businesses subject to state cost-of-service rate regulation, regulatory practices that
assign costs to accounting periods may differ from accounting methods generally applied by nonregulated companies. When it is probable
that regulators will permit the recovery of current costs through future rates charged to customers, these costs that otherwise would be
expensed by nonregulated companies are deferred as regulatory assets. Likewise, regulatory liabilities are recognized when it is probable that
regulators will require customer refunds through fufure rates or when revenue is collected from customers for expenditures that have yet to
be incuned. Generally, regulatory assets and liabilities are amortized into income over the period authorized by the regulator.
Questar Gas evaluates whether or not recovery of its regulatory assets through future rates is probable and makes various assumptions in
its analyses. The expectations offuture recovery are generally based on orders issued by regulatory commissions, legislation or historical
experience, as well as discussions with applicable regulatory authorities and legal counsel. Ifrecovery ofa regulatory asset is determined to
be less than probable, it will be written offin the period such assessment is made.
Asset Retirement Obligations
Questar Gas recognizes AROs at fair value as incuned or when sufficient information becomes available to determine a reasonable estimate
of the fair value of future retirement activities to be performed for which a Iegal obligation exists. These amounts are generally capitalized as
costs of the related tangible long-lived assets. Since relevant market information is not available, fair value is estimated using discounted
cash flow analyses. Periodically, Questar Gas evaluates the key assumptions underlying its AROs including estimates of the amounts and
timing of future cash flows associated with retirement activities. AROs are adjusted when signfficant changes in these assumptions are
identified. Questar Gas reports accretion of AROs and depreciation on asset retirement costs associated with its natural gas pipeline assets as
an
adjustment to the related regulatory liabilities when revenue is recoverable from customers for AROs.
Debt lssuance Costs
Questar Gas defers and amortizes debt issuance costs and debt premiums or discounts over the expected lives ofthe respective debt issues,
considering maturity dates and, ifapplicable, redemption rights held by others. Effective January 2016, defened debt issuance costs are
recorded as a reduction in long-term debt in the Balance Sheets. Such costs had previously been recorded as an asset in other noncurrent
assets in the Balance Sheets. Amortization of the issuance costs is reported as interest expense. Unamortized costs associated with
redemptions of debt securities prior to stated maturity dates are generally recognized and recorded in interest expense immediately. As
permitted by regulatory authorities, gains or losses resulting from the refinancing of debt allocable to utility operations subject to cost-based
rate regulation are deferred and amortized over the lives ofthe new issuances.
lnventories
Materials and supplies inventories are valued primarily using the weighted-average cost method. Stored gas inventory for Questar Gas used
in gas distribution operations is valued using the weighted-average cost method.
Goodwill
Questar Gas evaluates goodwill for impairment annually as of December 31 through 2016 (as of April 1 effective 2017) and whenever an
event occurs or circumstances change in the interim that would more-likely-than-not reduce the fair value of a reporting unit below its
canying amount.
New Accounting Standards
In May 2014,the FASB issued revised accounting guidance for revenue recognition from contracts with customers. The core principle of
this revised accounting guidance is that an entity should recognize revenue to depict the transfer ofpromised goods or services to customers
in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The
amendments in this update also require disclosure of the nature, amount, timing and uncertainty of revenue and cash flows arising from
contracts with customers.
For Questar Gas, the revised accounting guidance is effective for interim and annual periods beginning January 1,2018. We have
completed the preliminary stages of evaluating the impact of this guidance and, pending evaluation of the items discussed below, expect no
significant impact on our results of operations. Now that our preliminary evaluation is complete, we will expand the scope of our assessment
to include all contracts with customers. In addition, we are considering certain issues that could potentially change the accounting for certain
transactions. Among the issues being considered are accounting for contributions in aid ofconstruction, recognition ofrevenue when
collectability is in question, recognition of revenue in contracts with variable consideration and accounting for altemative revenue programs.
Questar Gas plans on applying the standard using the modified retrospective method as opposed to the full retrospective method.
NOTE 3. OPERATING REVENUE
Questar Gas' operating revenue consists of the following
Year Ended December 31.2016 2015 2014
(millions)
Residential and commercial gas sales
lndustrial gas sales
Gas transportation
Otheil)
$ 8s4.6
't7.3
24.6
24.8
$ 847.3
23.6
21.2
25.5
$ 875.7
29.9
17.9
37.4
Total operating revenue $ 921.3 $ 917.6 $ 960.9
(1) See Note l8for amounts attributable to relatedparties.
NOTE 4. INCOME TA)(ES
Details of Questar Gas' income tax expense and defened income taxes are provided in the following tables. The components of income tax
expense were as follows:
Year Ended December 31.2016 2015 2014
(millions)
Current:
Federal $ 1.2 $(16.0) $(11.9)State 0.2 (2.0) (1.9)
1.4 (18.0) (13.8)
Deferred:Federal 29.9 48.8 42.4State S.9 4.2 3.6
lnvestment tax credits (0.1) (0.2) (0.2)
5.7 52.8 45.8
Total income tax expense $ 37.1 $ 34.8 $ 32.0
The difference between the statutory federal income tax rate and Questar Gas' effective income tax rate is explained as follows:
Year Ended Dscember 31,2016 2015 20'14
Federal income taxes statutory rate
lncreases (reductions) resulting from:
State taxes, net of federal benefit
Amortization of investment tax credits related to rate- regulated assets
Other
35.0%35.0%35.0%
4.2
(0.1)
o.2
1.4
(0.2)
(1.1)
1.3
(0.2)
0.6
Effective income tax rate 39.3%35.1o/o 36.7o/o
Significant components of Questar Gas' deferred income taxes were as follows:
At December 31 2016 2015
(millions)
Defgged income taxes:
Total deferred income tax assets
Total deferred income tax liabilities
$ 2.0
477.4
$ 3.4
440.1
Total deferred income tax liabilities g 475.8 $ 436.7ffi
Property, plant and equipment $ 448.2 g 403.0
Employee benefits 27.9 28.0
Deferred compensation (0.6) (0.9)
Purchased gas costs 0.1 8.5Other o.2 (1.9)
Total net deferred income tax liabilities $ 475.8 $ 436.7
There were no unrecognized tax benefits at the beginning or end ofthe years ended December 31,2016,2015 or 20l4.The 2016 federal
income tax return has not been filed.
NOTE 5. F'AIR VALUE MEASUREMENTS
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (exit price) in an orderly transaction
between market participants at the measurement date. However, the use of a mid-market pricing convention (the mid-point between bid and
ask prices) is permitted. Fair values are based on assumptions that market participants would use when pricing an asset or liability, including
assumptions about risk and the risks inherent in valuation techniques and the inputs to valuations. This includes not only the credit standing
of counterparties involved and the impact of credit enhancements but also the impact of Questar Gas' own nonperformance risk on its
liabilities. Fair value measurements assume that the transaction occurs in the principal market for the asset or liability (the market with the
most volume and activity for the asset or liability from the perspective of the reporting entity), or in the absence of a principal market, the
most advantageous market for the asset or liability (the market in which the reporting entity would be able to maximize the amount received
or minimize the amount paid). Questar Gas applies fair value measurements to commodity derivative instruments in accordance with the
requirements described above. Questar Gas applies credit adjustments to its derivative fair values in accordance with the requirements
described above.
lnputs and Assumptions
Questar Gas maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. Fair value is
based on actively-quoted market prices, if available. In the absence of actively-quoted market prices, price information is sought from
extemal sources, including broker quotes and industry publications. When evaluating pricing information provided by brokers and other
pricing services, Questar Gas considers whether the broker is willing and able to trade at the quoted price, ifthe broker quotes are based on
an active market or an inactive market and the extent to which brokers are utilizing a particular model if pricing is not readily available. If
pricing information from external sources is not available, or if Questar Gas believes that observable pricing is not indicative of fair value,
judgment is required to develop the estimates of fair value. In those cases Questar Gas must estimate prices based on available historical and
near-term fufure price information and certain statistical methods, including regression analysis, that reflect its market assumptions.
Questar Gas' commodity derivative valuations are prepared by Dominion's Enterprise Risk Management departrnent which creates
mark-to-market valuations for Questar Gas' derivative transactions using computer-based statistical models. The inputs that go into the
market valuations are transactional information and market pricing information that resides in data warehouse databases. The majority of
forward prices are automatically uploaded into the data warehouse databases from various third-party sources. Inputs obtained from
third-party sources are evaluated for reliability considering the reputation, independence, market presence, and methodology used by the
third-party. If forward prices are not available from third-parry sources, then Dominion's Enterprise Risk Management department models
the forward prices based on other available market data. A team consisting of risk management and risk quantitative analysts meets to assess
the validity of market prices and mark-to- market valuations. During this meeting, the changes in mark-to-market valuations from period to
period are examined and qualified against historical expectations. If any discrepancies are identified during this process, the mark-to-market
valuations or the market pricing information is evaluated further and adjusted, if necessary.
For options and contracts with option-like characteristics where observable pricing information is not available from external sources,
Questar Gas generally uses a modified Black'Scholes Model or other option model.
The inputs and assumptions used in measuring fair value for commodity derivative contracts include the following:. Forward commodity prices. Transaction prices. Price correlation. Volumes. Commodity location. Interest rates
' Credit quality of counterparties and Questar Gas. Credit enhancements. Time value
Levels
Questar Gas also utilizes the following fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value
into three broad levels:. Level 1-Quoted prices (unadjusted) in active markets for identical assets and liabilities that it has the ability to access at the
measurement date.. Level 2-Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable for the asset or
liability, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or
liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability, and inputs that are
derived from observable market data by correlation or other means. lnstruments categorized in Level 2 primarily include
commodity forwards and options.
. Level 3-Unobservable inputs for the asset or liability, including situations where there is little, if any, market activity. Instruments
categorized in Level 3 primarily include long-dated commodity derivatives.
The fair value hierarchy gives the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable
data (Level 3). In some cases, the inputs used to measure fair value might fall in different levels of the fair value hierarchy. In these cases, the
lowest level input that is significant to a fair value measurement in its entirety determines the applicable level in the fair value hierarchy.
Assessing the significance of a particular input to the fair value measurement in its entirety requires judgment, considering factors specific to
the asset or liability.
For derivative contracts, Questar Gas recognizes transfers among Level l, Level 2 and Level 3 based on fair values as of the first day of
the month in which the transfer occurs. Transfers out
of Level 3 represent assets and liabilities that were previously classified as Level 3 for which the inputs became observable for classification
in either Level I or Level 2. Because the activity and liquidity of commodity markets vary substantially between regions and time periods,
the availability ofobservable inputs for substantially the full term and value ofQuestar Gas' over-the-counter derivative contracts is subject
to change.
Level3 Valuations
Fair value measurements are categorized as Level 3 when price or other inputs that are considered to be unobservable are significant to their
valuations. Long-dated commodity derivatives are generally based on unobservable inputs due to the length of time to settlement and the
absence ofmarket activity and are therefore categorized as Level 3.
Questar Gas enters into certain physical forwards, which are considered Level 3 as they have one or more inputs that are not observable
and are significant to the valuation. The discounted cash flow method is used to value Level 3 physical forward contracts. The discounted
cash flow model for forwards calculates mark-to-market valuations based on forward market prices, original transaction prices, volumes,
risk-free rate of return, and credit spreads. For Level 3 fair value measurements, forward market prices are considered unobservable. The
unobservable inputs are developed and substantiated using historical information, available market data, third-party data" and statistical
analysis. Periodically, inputs to valuation models are reviewed and revised as needed, based on historical information, updated market data,
market liquidity and relationships, and changes in third-parlry pricing sources.
The fair value of Level 3 derivatives were not material at December 31,2016.
Recurring Fair Value Measurements
The following table presents Questar Gas' assets and liabilities that are measured at fair value on a recurring basis for each hierarchy level,
including both current and noncurrent portions. Questar Gas did not have any such items at December 31,2015.
Level I Level 2 Level 3 Total
(millions)
At December 31, 2016
Assets:
Derivatives:
Commodity $$ 0.1 $$ 0.1
Total assets $$ 0.1 $$ 0.1
Liabilities:
Derivatives:
Commodity $$ 0.1 $$ 0.1
Total liabilities 0.1
The following table presents the net change in Questar Gas' assets and liabilities measured at fair value on a recurring basis and
included in the Level 3 fair value category. Questar Gas did not have any such items at December 31,2015 or 2014.
0.1
2016
(millions)
Beginning balance
Total realized and unrealized gains (losses):
lncluded in earnings(1)
lncluded in regulatory assetsiliabilities
Settlemehts
$
0.2
(0.21
Ending balance $
( I ) The gains and loss es included in earnings were class ified in cost of sales.
There were no unrealized gains or losses included in eamings in the Level 3 fair value category relating to assets/liabilities still held at the
reporting date for the year ended December 31,2016.
Fair Value of Financial Instruments
Substantially all of Questar Gas' financial instruments are recorded at fair value, with the exception of the instruments described below,
which are reported at historical cost. Estimated fair values have been determined using available market information and valuation
methodologies considered appropriate by management. The carrying amount of cash and cash equivalents, customer receivables, receivables
from affiliates, short-term debt, accounts payable to affiliates, affiliated current borrowings, and accounts payable are representative offair
value because ofthe short-term nature ofthese instruments. For Questar Gas' financial instruments that are not recorded at fair value, the
carrying amounts and estimated fair values are as follows:
December 3'1, 2016 December 31 , 201 5
Carrying
Amount
Estimated Fair
Value(rl
Carrying
Amount
Estimated Fair
Value@
(milllons)
Longterm debt, including securities due within one
Year (3)$ 630.8 $ 572.6 $ 531.2 $ 568.4
(1) Fair value is estimated using market prices, where available, and interest rates cunently available for issuance of debt with similar terms and
remaining maturities. The fair value measurements are classified as Level 2.
(2) FairvalueisestimatedusingthediscountedpresentvalueofcashflowsusingQuestarGas'currentcreditrisk-adjustedborrowingrates.Thefafuvalue
measurements are classtfied as Level 2.
(3) Carrying amount includes amounts which represent the unamortized debt issuance costs.
NOTE 6. DERTVATTVESAND HEDGE ACCOUNTING ACTTYITIES
Questar Gas uses derivative instruments to manage exposure to supply and price risk. As discussed in Note 2, changes in the fair value of
derivatives are deferred as regulatory assets or regulatory liabilities until the related transactions impact earnings. See Note 5 for further
information about fair value measurements and associated valuation methods for derivatives.
Derivative assets and liabilities are presented gross on Questar Gas' Balance Sheets. Questar Gas' derivative contracts include
over-the-counter transactions, which are bilateral contracts that are transacted directly with a counterparty. At December 31,2016,
substantially all of Questar Gas' derivative assets and liabilities were not subject to a master netting or similar arrangement.
Volumes
The following table presents the volume of Questar Gas' derivative activity at December 31,2016. These volumes are based on open
derivative positions and represent the combined absolute value oftheir long and short positions, except in the case
of offsetting transactions, for which they represent the absolute value of the net volume of their long and short positions.
Curent Noncurent
Natural Gas (bcf):
Basis 8.8 30.5
Fair Value and Gains and Losses on Derivative lnstruments
The following table presents the fair values of Questar Gas' derivatives and where they are presented in its Balance Sheets. Questar Gas did
not have any derivative balances at December 31,2015.
Fair Value -
Derivatives
not under
Hedge
A@ountinq
Total
Fair
Value
(millions)
At December 31,2016
ASSETS
Current Assets
Commodity $ 0.1 $ 0.1
Total current derivative assets(1)0.1 0.1
Total derivative assets $0.1 $ 0.1
LIABILITIES
Current Liabilities
Commodity $ 0.1 $ 0.1
Total current derivative liabilitiest2t 0.1 0.1
Total derivatiVe liabilities $ 0.1 $ 0.{
(I) Current derivative assets are presented in prepaid expenses and other current assets in Questar Gas' Balance Sheets.
(2) Current derivatiye liabilities are presented in other current liabilities in Questar Gas' Balance Sheets.
The following tables present the gains and losses on Questar Gas' derivatives, as well as where the associated activity is presented in its
Statements of Income.
Derivatives not designated as hedging Amount of Gain (Loss) Recognized in ln@me
on Derivatives{1}
Ycar Fnrlcd na.emhar 31 20t6 201 5 2014
(millions)
Derivative Type aniJ Location of Gains (Losses)
Commodity(2)
Purchased gas $ (0.2)$$
Total $ (0.2)$$
(l) Includes derivative activity amortized out of regulatory assets/liabilities. Amounts deferred into regulatory assets/liabilities have no associated ffictin Questar Gas' Statements of Income.
(2) Amounts recorded in Questar Gas'Statements of Income are classifed in cost of sales.
NoTE 7. PROPERTY, PLAIITAIID EQI]IPMENT
Major classes of properfy, plant and equipment and their respective balances for Questar Gas are as follows:
At December 31,2016 2015
(millions)
Distribution
General and other
Plant under construction
2,436.7
369.5
76.8
2,186.9
320.9
62.5
$$
Total property, plant and equipment $ 2,883.0 $ 2,570.3
NOTE 8. GOODWILL
The changes in Questar Gas' carrying amount and segment allocation of goodwill are presented below:
Questar
Gas
Coporate and
Other Total
(millions)
Balance at December 31,201411)
No events affectinq qoodwill $5.6$$ 5.6
Balance at December 31 , 2015(1)
No events affecting goodwill
$'j$$ 5.6
Balance at December 31, 2016trt $5.6 $$ 5.6
(1) There are no accumulated impairment losses.
NOTE 9. REGI]LATORY ASSETSAND LIABILITIES
Regulatory assets and liabilities include the following:
At Deember 31,2016 2015
(millions)
Regulatory assets:
Purchased-gas adjustment(1)
EEP(2)
Contract withholding(3)
Deferred cost-of-service gas charges(4)
Pipeline integrity costsls)
cET(6)
Other
$3.4
't.1
2.6
1.9
;
$18.9
1.1
20.3
19.5
6.3
3.6
0.1
Regulatory assets-current 9.6 69.8
Deferred cost-of-service gas charges(4)
Cost of reacquired debtlT)
Pipeline integrity costs(s)
8.1
3_83.2
2.3
Regulatory assets-non-current S,5 11.9
Total regulatory assets $ 1S.i $ 81.7
$ 2.9
3.5
0.1
3.7
0.3
4.0
cET(6)
Cost of plant removal and AROs(8)
Other
liab il ities:cu rrent(e)6.5
Cost of plant removal and AROs(8) 189.1 6S.s
lncome taxes refundable to customers(1o) - 0.1
Total regulatory liabilities S 195.6 S 69.6
(l) Purchased-gascoststhataredffirentfromthoseprovidedforinpresentratesareaccumulatedandrecoveredorcreditedthroughfutureratechanges.
(2) TheEEPrelatestofundsexpendedforpromotingtheconservationofnaturalgasthroughadvertising,rebatesforeficienthomesandappliances
and home energt audits. Costs are recovered from customers through periodic rate adjustments. Costs incuted in excess ofrecoveries result in an
asset; recoveries in excess of costs incurued result in a liability.
(3) ln20l6,QuestarGasrecordedaregulatoryassetof$2.6millionforadisputedamountwithheldfromasupplierofstorageseryices.Theamount
withheld is expected to be recovered/rom customers if il is determined that Questar Gas is required to pay the supplier. The $20.3 million\uithheld
from a supplier ofgathering services as ofyear-end 201 5, per the dispute settlement agreement, was resolved and reversed in March 2016. For
further details, see Note 16.
(4) Operating and maintenance, depreciation, depletion and amortization, production taxes and royalties on cost-of-service gas production andfuture
expenses related to abandonment ofWexpro-operated gas and oil wells. Noncurrent cost-of-service gas charges also include amounts for production
imbalances that will be recoveredfrom customers at the end of the related gas wells' useful ltves. These costs were transferred to Wexpro in
September 2016.
(5) The costs of complyingwith pipeline-integrity regulations are recovered in rates subject to a Utah Commission order. Questar Gas is allowed to
recover $7.0 million per year. Costs incurred in excess of this amount will be recovered infuture rate changes.
(6) Represents the dffirence between actual and allowed revenues. Any deficiency in amounts collected are reco'vered through periodic rate
adjustments.
(7) Gains and losses on the reacquisition of debt by rate-regulated companies are deferred and amortized as interest expense over the would-be
renaining life ofthe reacquired debt. Ihe reacquired debt costs had aweighted-average life ofapproximately 6.1 years as ofDecentber jl, 2016.
(8) Cost ofplant removal and AROs represent amounts recoveredfrom customers for costs offuture activities to remove assets that are expected to be
incurred at the time of retirement.
(9) Current regulatory liabilities are presented in other cutent liabilities in the Balance Sheets.
(10) Income taxes refundable to custonxers arisefrom adjustments to deferred taxes, refunded over the life ofthe related property, plant and equipntent.
At December 31,2016 and 2015, Questar Gas had approximately $2.6 million and $20.3 million, respectively, of regulatory assets that
were not earning a retum. These amounts represented amounts withheld from suppliers for storage and gathering services.
NOTE 10. REGULATORY MATTERS
As a public utility, Questar Gas is subject to the jurisdiction of the Utah Commission and the Wyoming Commission. Natural gas sales and
transportation services are provided under rate schedules approved by the two regulatory commissions.
Questar Gas has an infrastructure cost-tracking mechanism that allows it to place into rate base, and eam a retum on, capital
expenditures associated with a multi-year natural gas infrastructure-replacement program upon the completion of each project. L2014Utah
general rate case reset the recovery of costs under the infrastructure-replacement progrtrm into general rates until Questar Gas invested
$84 million in new pipelines. This dollar threshold was met in November 2014, and thereafter Questar Gas has been able to recover program
capital expenditures through the infrashucture-replacement mechanism. Questar Gas spent approximately $70 million in2016 under this
program.
In July 2016, Questar Gas filed a general rate case with the Utah Commission. However, as part of the Settlement Stipulation
Agreement approved in August 2016 relating to the Dominion Questar Combination, Questar Gas agreed to withdraw the general rate case
and notfile anew general rate case to adjust its base distribution non-gas rates until July 1,2019, unless otherwise ordered by the Utah
Commission. A Settlement Stipulation Agreement was also approved by the Wyoming Commission in September 20l6,relating to the
Dominion Questar Combination, in which Questar Gas agreed to not file a general rate case application with a requested rate effective date
earlier than January l,2020.Information regarding the Dominion Questar Combination was also provided to the Idaho Commission, who
acknowledged the Dominion Questar Combination in October 2016 and directed Dominion Questar to notiff the Idaho Commission when it
makes filings with the Utah Commission.
In October 2016, Questar Gas filed for a combined $8.7 million gas cost increase with the Utah and Wyoming Commissions. The Utah
and Wyoming Commissions approved the rate filing effective November 1,2016, reflecting a forecasted increase in commodity costs.
NOTE 11. ASSET RETIREMENT OBLIGATIONS
AROs represent obligations that result from laws, statutes, contracts and regulations related to the evenfual retirement of certain of Questar
Gas' long-lived assets. Revisions to estimates result from material changes in the expected timing or amount of cash flows associated with
AROs. As a result of a change in the estimated timing of cash flows for the interim retirement of natural gas pipeline components, Questar
Gas recorded an increase of $75.1 million to AROs in the third quarter of 2016. The current portion of the ARO balance is $1.6 million and
is included in other current liabilities in the Balance Sheets. The ARO liability is adjusted to present value each period through an accretion
calculation using a credit-adjusted risk-free interest rate. Changes in Questar Gas' AROs from the Balance Sheets were as follows:
Amount
(millions)
AROs at December 31, 2014 $ 0.6
AROs at December 31, 2015 $ 0.6
Revisions in estimated cash flows
Liabilities settled
75.1
(0.8)
AROs at December 31, 2016 $ 77.8
NOTE 12. SHORT-TERM DEBTAND CREDIT AGREEMENTS
Questar Gas uses short-term debt to fund working capital requirements and as a bridge to long-term debt financings. The levels of borrowing
may vary significantly during the course of the year, depending upon the timing and amount of cash requirements not satisfied by cash from
operations.
Questar Gas' short-term financing is supported by the two joint revolving credit facilities with Dominion, Virginia Power and Dominion
Gas, to which Questar Gas was added as a co-borrower in November 2076.In December 2016, Questar Gas entered into a commercial paper
program pursuant to which it
began accessing the commercial paper markets. These credit facilities can be used for working capital, as support for the combined
commercial paper programs of Dominion, Virginia Power, Dominion Gas and Questar Gas and for other general corporate purposes.
Questar Gas' share of commercial paper and letters of credit outstanding under its joint credit facilities with Dominion, Virginia Power
and Dominion Gas were as follows:
Outstanding
Facility
Limito)Paoer@
Commercial Outstanding
Letters of Credit
(millions)
At December 31, 2016
Joint revolving credit facilitytlt
Joint revolving credit facilitytlt
$500.0
500.0
$ 2oo.o $
Total $ 1,000.0 $ 200.0 $
(l) A maximum of a combined $1.0 billion of thefacilities is available to Questar Gas, assuming adequate capacity is available afier giving
effect to uses by co-borrowers Dominion, Virginia Power and Dominion Gas. Sub-lintits for Questar Gas are set within the facility limit but
can be changed at the option of the borrowers multiple times per year. At December 31, 2016, the sub-limit for Questar Gas was an
aggregate $250 ntillion. If Questar Gas has liquidity needs in excess of its sub-limit, the subJimit may be changed or such needs may be
satisfied through short-term intercompany borrowings from Dominion. The maturity date for these facilities is April 2020. These credit
facilities can be used to support bank borrowings and the issuance of commercial paper, as well as to support up to $ I .0 billion (or the
sub-limit, whichever is less) of letters of credit.
(2)Theweighted-average interest rate of the outstanding commercial paper supported by these credit facilities was l.l0o% at December 3l, 2016.
NOTE 13. LONG-TERM DEBT
At Drember31.
2016 Weighted-
aveEge
CouPon{t)2016 2015
(millions, exept perentages)
Unsecured Senior and Medium-Term Notes:
2.98% lo 7 .20%, due 2017 to 2051 4.84% $ 634.5 $ 534.5
Tohl principal 634.5 534.5
Securlties due within one year 6.85% (f 4.5)
Debt issuance costs (3.7) (3.3)
Total long-term debt $ 616.3 $ 531.2
(1) Representsweighted-averagecouponratesfordebtoutstandingasofDecember3l,2016.
Based on stated maturity dates, the scheduled principal payments of long-term debt at December 31, 2016, were as follows:
2017 2014 2019 2020 2021 Thereafter Total
(millions,
except
percentages)
Questar Gas $14.5 $120.0 $ - $ - $ - $ 5oo.o $634.5
Weighted-average coupon 6.85%5.72o/o 4.57o/o
Questar Gas short-term credit facilities and long-term debt agreements contain customary covenants and default provisions.
As ofDecembet 31,2016, there were no events of default under these covenants.
Any new debt issuance by Questar Gas is subject to approval by the Wyoming Commission.
NOTE 14. DIWDEIID RESTRICTIONS
The Utah Commission may prohibit any public service company, including Questar Gas, from declaring or paying a dividend to an affiliate if
it is determined that the capital of Questar Gas is being impaired or that its service to the public is likely to become irnpaired. At December
31,2016, the Utah Commission had not restricted the payment of dividends by Questar Gas.
NOTE I.5. EMPLOYEE BEIIEFITS
Questar Gas participates in retirement benefit plans sponsored by Dominion Questar, which provide certain retirement benefits to eligible
active employees, retirees and qualifying dependents of Questar Gas. Under the terms of its benefit plans, Dominion Questar reserves the
right to change, modify or terminate the plans. From time to time in the past, benefits have changed, and some of these changes have reduced
benefits.
Pension benefits for Questar Gas employees Eue covered by the Dominion Questar Corporation Retirement Plan, a defined benefit
pension plan sponsored by Dominion Questar that provides benefits to multiple Dominion Questar subsidiaries. Retirement benefits payable
are based primarily on years of service, age and the employee's compensation. As a participating employer, Questar Gas is subject to
Dominion Questar's funding policy, which is to contribute annually an amount that is in accordance with the provisions of ERISA. During
2016, Questar Gas made $1 1 .3 million of conhibutions to the Dominion Questar Corporation Retirement Plan. No contributions to this plan
by Questar Gas are currently expected in20l7. Net periodic pension cost related to this plan was $6.4 million, $10.4 million and $8.5 million
it2016,2015 and 2014, respectively, recorded in other operations and maintenance expense in the Statements of Income. The funded status
of various Dominion Questar subsidiary groups and employee compensation are the basis for determining the share of total pension costs for
participating Dominion Questar subsidiaries. At December 31,2016 and2015, the amount due from Dominion Questar associated with this
plan was $87.8 million and $82.8 million, respectively, recorded in receivables from affiliates in Questar Gas' Balance Sheet.
Retiree healthcare and life insurance benefits for Questar Gas employees are covered by the Dorninion Questar Corporation Umbrella
Health Plan, a plan sponsored by Dominion Questar that provides certain retiree healthcare and life insurance benefits to multiple Dominion
Questar subsidiaries. Annual employee premiums are based on several factors such as retirement date and years of service. Net periodic
benefit cost related to this plan was $0.8 million, $0.9 million and $0.8 million for 2016,2015 and 2014, respectively, recorded in other
operations and maintenance expense in the Statements of Income. Employee headcount is the basis for determining the share of total other
postretirement benefit costs for participating Dominion Questar subsidiaries. At
December 31,2016, the amount due to Dominion Questar associated with this plan was $13.0 million and is reflected as payables to
affiliates in Questar Gas' Balance Sheet. The amount due to Dominion Questar at December 31,2015 was $15.3 million and is included in
receivables from affiliates in Questar Gas' Balance Sheet.
Dominion Questar holds invesfinents in trusts to fund employee benefit payments for the pension and other postretirement benefit plans
in which Questar Gas' employees participate. Any investment-related declines in these trusts will result in future increases in the net
periodic cost recognized for such employee benefit plans and will be included in the determination of the amount of cash that Questar Gas
will provide to Dominion Questar for its share of employee benefit plan contributions.
Defined Contribution Plan
Questar Gas also participates in a Dominion Questar-sponsored defined contribution plan, the Dominion Questar 401(k) Retirement Income
Plan, which covers multiple Dominion Questar subsidiaries. Questar Gas recognized $4.7 million, $4.5 million and $4.5 million of expense
in other operations and maintenance expense in the Statements of Income in2016,2015 and 2014, respectively, as employer matching
contributions to this plan.
Share-based Gom pensation
Prior to the Dominion Questar Combination, Questar Gas employees participated in certain share-based compensation plans of Dominion
Questar. Effective with the Dominion Questar Combination all such awards vested on September 16,2016. Questar Gas had no share-based
compensation balances as of December 31,2016. Total share-based compensation expense amounted to $3.0 million :ol,2016 compared to
$1.4 million in 2015 and $1.6 million in2014.
NOTE 16. COMMITMENTSA}ID CONTINGENCMS
As a result of issues generated in the ordinary course ofbusiness, Questar Gas is involved in legal proceedings before various courts and is
periodically subject to governmental examinations (including by regulatory authorities), inquiries and investigations. Certain legal
proceedings and govemmental examinations involve demands for unspecified amounts of damages, are in an initial procedural phase,
involve uncertainty as to the outcome ofpending appeals or motions, or involve significant factual issues that need to be resolved, such that
it is not possible for Questar Gas to estimate a range of possible loss. For such matters for which Questar Gas cannot estimate a range of
possible loss, a statement to this effect is made in the description of the matter. Other matters may have progressed sufficiently through the
litigation or investigative processes such that Questar Gas is able to estimate a range of possible loss. For legal proceedings and
governmental examinations for which Questar Gas is able to reasonably estimate a range of possible losses, an estimated range of possible
loss is provided, in excess of the accrued liability (if any) for such matters. Any accrued liability is recorded on a gross basis with a
receivable also recorded for any probable insurance recoveries. Estimated ranges of loss are inclusive of legal fees and net of any anticipated
insurance recoveries. Any estimated range is based on currently available information and involves elements ofjudgment and significant
uncertainties. Any estimated range of possible loss may not represent Questar Gas' maximum possible loss exposure. The circumstances of
such legal proceedings and govemmental examinations will change from time to time and actual results may vary signihcantly from the
current estimate. For current proceedings not specifically reported below, management does not anticipate that the liabilities, if any, arising
from such proceedings would have a material effect on the financial position, liquidity or results of operations of the Questar Gas.
In May 2012, Questar Gas filed a complaint against a supplier for breach of contract relating to certain charges for gathering services. [n
Much2016, Questar Gas settled this matter which resulted in no material impact to Questar Gas' results of operation, financial position or
cash flows.
The CERCLA, as amended, provides for immediate response and removal actions coordinated by the EPA in the event of threatened
releases of hazardous substances into the environment and authorizes the U.S. government either to clean up sites at which hazardous
substances have created actual or potential environmental hazards or to order persons responsible for the situation to do so. Under the
CERCLA, as amended, generators and transporters ofhazardous substances, as well as past and present owflers and operators of
contaminated sites, can be jointly, severally and strictly liable for the cost of cleanup. These potentially responsible parties can be ordered to
perform a cleanup, be sued for costs associated with an EPA-directed cleanup, voluntarily settle with the U.S. govemment conceming their
liability for cleanup costs, or voluntarily begin a site investigation and site remediation under state oversight.
Questar Gas has determined that it is associated with two former manufactured gas plant sites that contain coal tar and other potentially
harmful materials. None of the former sites with which Questar Gas is associated is under investigation by any state or federal environmental
agency. Due to the uncertainty surrounding the sites, Questar Gas is unable to make an estimate of the potential financial statement impacts.
Commitments
Cunently, the majority of Questar Gas' natural gas supply is provided by cost-of-service reseryes developed and produced by Wexpro. In
2016, Questar Gas purchased the remainder of its gas supply from multiple third parties under index-based or fixed- price contracts. Questar
Gas has commitonents to purchase gas for $29.3 million h2017, $25.2 million in 2018 and20l9, $25.4 million in2020 and$25.2 million in
202lbased on current prices. Generally, at the conclusion ofthe 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 $102.0 million in20l6,
$82.4 million in 2015 and $135.8 million in2014.
In addition, Questar Gas stores gas during off-peak periods (typically during the summer) and withdraws gas from storage to meet peak
gas demand (fypically in the winter). Questar Gas has contracted for transportation and underground storage services with Questar Pipeline.
Annual payments for these services are expected to amount to $44.0 million n2017, $13.0 million in 2018, $3.8 million in20l9,
$1.9 million in2020, and $1.6 million in202l. Questar Gas has third-party transportation and gathering commitments requiring yearly
payments of
$27.8 million in2017, $24.4 million in 2018, $22.7 million in 2019 and2020, and $19.6 million in202l.
NOTE 17. CREDIT RISK
Credit risk is the risk of financial loss if counterparties fail to perform their contractual obligations. In order to minimize overall credit risk,
credit policies are maintained, including requiring customer deposits and the evaluation of counterparfy financial condition. In addition,
counterparties may make available collateral, including leffers of credit or cash held as margin deposits, as a result of exceeding agreed-upon
credit limits, or may be required to prepay the transaction.
Questar Gas maintains a provision for credit losses based on factors surrounding the credit risk of its customers, historical trends and
other information. Management believes, based on credit policies and the December 31,2016 provision for credit losses, that it is unlikely
that a material adverse effect on financial position, results of operations or cash flows would occur as a result of counterparty
nonperformance.
NOTE 18. RELATED-PARTY TRAI\SACTIONS
Questar Gas engages in related-party transactions primarily with affiliates Wexpro, for cost-of-service natural gas supply, and Questar
Pipeline, for transportation and storage services. See Notes 2 and 16 for more details. Questar Gas' receivables and payables balances with
affiliates are settled based on contractual terms or on a monthly basis, depending on the nature ofthe underlying transactions. A discussion
of significant related party transactions follows.
Questar Gas participates in certain Dominion Questar benefit plans as discussed in Note 15.
Dominion Questar and other affrliates provide accounting, legal, finance and certain administrative and technical services to Questar
Gas. These costs are included in other operations and maintenance in the Statements of Income. The administrative charges are generally
allocated based on each afFrliated company's proportional share ofrevenues less product costs; property, plant and equipment; and labor
costs. Management believes that the allocation method is reasonable. Questar Gas provides certain services to related parties, including
technical services. The billed amounts of these services are allocated based on the specific nature of the charges. Management believes that
the allocation methods are reasonable. The amounts of these services follow:
Year Ended December 31,2016 2015 2014
(millions)
Trdnsportation and storage services from affiliates(1)$$ 72.9
51.5Services provided by related parties
Services provided to related parties
(1) The costs of these seryices were included in cost of sales in Questar Gas' Statements of Income.
The Dominion Questar Combination resulted in merger and restructuring costs of $13.8 million charged from Dominion Questar for the
year ended December 31, 2016. There were no merger and restructuring costs for the same prior year periods.These costs primarily consist
of employee related costs allocated to Questar Gas and are included in other operations and maintenance in Questar Gas' Statements of
Income.
Questar Gas' borrowings under the IRCA with Dominion totaled $48.0 million as of December 31,2016. The weighted-average interest
rate for these borrowings was 1.04Vo. Questar Gas' borrowings as of December 3 1, 2015 under the IRCA with Dominion Questar was
$273.3 million and was settled at the time ofthe Dominion Questar Combination. Interest charges related to Questar Gas' total borrowings
fromDominionandDominionQuestartotaled$l.3millionfortheyearendedDecember3l,2016ardwereimmaterialfor2015 and20L4.
NOTE 19. OPERATING SEGMENT
The Corporate and Other Segment primarily includes speciftc items attributable to Questar Gas' operating segment that are not included in
profit measures evaluated by executive management in assessing the segment's performance or in allocating resources.
The net expense for specific items in 2016 primarily related to a $15.9 million ($9.6 million after-tax) charge for transaction costs
associated with the Dominion Questar Combination. These costs primarily consist of employee related costs allocated to Questar Gas and are
included in other operations and maintenance in Questar Gas' Statements of Income.
The following table presents segment information pertaining to Questar Gas' operations:
Questar Consolidated
Year Ended December 31,
72.9
65.0
3-2
$ 73.0
55.7
TotalGas
Corporate
and Other
(millions)
2016
Operating revenue
Depreciation and amortization
lnterest income
lnterest expense
lncome taxes
Net income (loss)
Capital expenditures
Total assets (billions)
$ 921.3
61.0
0.3
30.2
43.4
66.8
240.4
2.5
$$921.3
61.0
0.3
30.2
37.1
57.2
240.4
2-5
tesr
,r..,
2015
Operating revenue
Depreciation and amortization
lnterest income
lnterest expense
lncome taxes
Net income (loss)
Capital expenditures
Total assets Oillions)
$ 917.6
55.1
1.2
28.3
34.8
64.3
217.4
2.2
$$917.6
55.1
1.2
28.3
34.8
64.3
217.4
2.2
2014
Operating revenue
Depreciation and amortization
lnterest income
lnterest expense
lncome taxes
Net income (loss)
Capital expenditures
$960.9 $ - $ 960.e53.6 53.61.7 1.728.2 28.232.0 32.055.2 55.2174.7 174.7
NOTE 20. QUARTERLY F'INANCIAL DATA (UNAI]DITED)
A summary of Questar Gas' quarterly results of operations for the years ended December 3I, 2016 and 2015 follows. Amounts reflect all
adjustments necessary in the opinion of management for a fair statement of the results for the interim periods. Results for interim periods
may fluctuate as a result ofweather conditions, changes in rates and other factors.
Ouarter
Se@nd
Orerler Orarler
Fourth
Oilarler Year
ThirdFirst
(millions)
2016
Operating revenue
lncofne (loss) from operations
Net income (loss)
2015
Operating revenue
lncome (loss) from operations
Net income (loss)
$ 407.9
83.4
47.6
$ 128.2
3.8
(1.6)
$ 141.7
't.4
(2.8\
$ 87.9
(1s.8)
(17.71
$ 921.3
120.7
57.2
$ 917.6
122.6
64.3
$297.3
53.3
28.9
$89.3
(8.e)
(8.8)
374.8
76.6
43.8
$$ 311.8
53.5
32.1
Questar Gas' 2016 results include the impact of the following significant item:
Third quarter results include a$7.7 million after-tax charge for transaction costs associated with the Dominion Questar
Combination
NOTE 21. SUPPLEMENTAL OILAND GAS INTORMATION (UNAUDITED)
The following information is provided with respect to estimated natural gas reseryes, which are managed, developed and delivered by
Wexpro at cost-of-service pursuant to the Wexpro Agreement. The estimates of proved gas reserves were prepared by Wexpro's reseryoir
engineers. Gas reserve estimates are subject to numerous uncertainties inherent in estimating quantities of proved reseryes, projecting fufure
rates or production and timing ofdevelopment expenditures. The accuracy ofthese estimates depends on the quality ofavailable data and on
engineering and geological interpretation andjudgment. Reserve estimates are imprecise and will change as additional information becomes
available. Geological and engineering data demonstrate with reasonable certainty that these quantities are recoverable under existing
economic and operating conditions. Since the gas reserves operated by Wexpro are delivered to Questar Gas at cost-of-service, SEC
guidelines with respect to standard economic assumptions are not applicable. The SEC anticipated this potential difficulty and provides that
companies may give appropriate recognition to differences because of the effect of the ratemaking process. Accordingly, Wexpro uses a
minimum-producing rate or maximum well-life limit to determine the ultimate quantrty of gas reserves.
Prove{, Reserues
(Peo
Balance at December 31, 2016
Balance at December 31,2015
469.8
522.4
530.4Balange at December 31 2014
Questar Gas Company
lncrease or Decrease
10'l
105
106
107
108
11'l
114
General Plant in Seruice
Gas Plant Held for Future Use
Complotsd Construction Not Classifiod - Gas
Construction Work in Progress - Gas
Amum Prov for Depreciation of Gas Plant in Servie
Accum Prov forAmortization of Gas Planl in Seruice
Gas Plant Acquisition Adiustments
5,036.83
z',t,318,273.89
55,498,040.81
(730,445,222.22\
(6,202,795.O7\
6,644,450.15
Plant
2,297,429.57
(3,U7,259.721
(3,406,651.71)
('t,751.21)
9,802,925.90
4,434,987.58'
74,566,7m.2?
(21,476.69)
Net Gas Plant 2.1 51.030,346.83 14,213,143.92 341,255,733.27
1U
135
136
14'l
142
143.
144
145
146
146.
154
163
164
165
't7'l
174
176
Other Special Deposits
Working Funds 72,266.50 3,000.00 (633.50)
Temporary Cash lnvestments
Noles ReceivableCustomertuR 163,899,803.65 78,241,008.55 (5,065,230.43)
Accts Rtr - QEP Resources 1,299,951.71 108,450.03 (237,800.46)
Asum. Provision for Bad Debt (1,656,564.17) (437,954.29) 52,810.63
Notes Rec. from Afiiliates
Accounts Rec. from Afflliates 638,318.25 (534,596.49) (1,025,572.93\
AR-Allocated to Affi liates
Plant Materials and Operating Supplies 27,4fi,296.74 6,013,862.82 10,390,182.42
Slores Expense Undistributed 169,832.68 48,373.30 124,704.45
Gas Stored Underground 49,333,980.55 (23,434,431.98) 5,469,'1 19.58
Prepaid Expenses 3,471,$3.42 306,315.29 (416,653.28)
Interest and Dividends Rec-
Misc. Cursnt&AmedAssets 311,321.28 138,471.67 311,321.28Dsrivatives 114,4&1.68 (1,115,163.79) 114,4&1.68
131 Cash
1
1
128 Other Funds or lnvestments
7,487,503.54 10,849,255.08 (2,967,291.40\
Net Cunent and Accrued Assetg 70,186,590.19252,598,638.83 6,149,421.O4
Unamortized Debt Expense
Other Rsgulatory Assets
Reg Asset - DSM ProgEms - UT
Reg Asset - DSM ProgEms - VVY
Clearing Accounts
Misc. Defered Debits
Unamort Loss on Reacq Debt
ACCUM DEF TAX{TC FULL DEFER
AHm Defer Ta - Federal
Accum Defer Ta - Stats
Unrecovered Purchasd Gas Costs - Utah
Unremvered Purchased Gas Costs - Wyoming
Utah/ldaho Low lncome Crediucharga
Utah,/ldaho CET Balancins
Wyoming CET Balancing
Misc Dr-Fin Hedqe Mark-to-MrK
181
182400
182401
1U
186
189
190001
190008
'190009
19'1000
191000
191800
191900
19't901
192
2,061,491.27
1,346,870.99
(84,710.32)
(2,927,3U.12)
56,707.20
(4,986,773.44\
613,480.49
87,728.99
(3,1s2,823.17\
(64,721.07\
37 1,2s8.06
(46,835,660.44)
(134,986.45)
a2,644.43
271,836.4A
(37,649.34)
(530,629.20)
(69,026.28)
(15,7M,072.25\
250,205.54
(163,745.56)
(6,329,377.95)
(159,954.25)
3,6M,540.83
7,396,774.37
883,944.50
174,873.84
(96,302.57)
(37,649.34)
3,2'15,372.38
'143,866.70
655,3't 3.81
(293,290.64)
(758,040.1 0)
(6,010.93)
155,997.37
(33,700.47)
(44,219.1O1
(5,752.19)
204
207
214
272,445,462.83
27
5,729,790.96
PEfered Slock lssued
Premium on Common Stock
Prefered Stock Expense
Bonds - Long Term
Long-Tam Notes
Unamort Premium - LT Debt
Unamort Disc - LT Debl
224 100,000,000.00 100,000,000.00
Asset Retie
(14,500,000.00)
100,000,000.00
t30
238
241
242002
245
253003
2 14,500,000.00
'I 1 0,805,585.87
48,000,000.00
(31,463,389.99)
6,723,459.19
(1,386,439.'l 1)
6,9 16,941.01
200,000,000.00
20,582,730.66
(276,500,000,00)
(4,054,595.08)
60, 1'18.30
8,324,351.33
2,406,896.01
Accounts Payable - General
Notes Payable to Atfiliates
Ac@unts Payable to Affiliates
Customer Deposits
Taes Acmed
lnterest Amed
Dividends Declared
Tax Collectjons Payable
Miscellansus Cunent & Accrued Liabilities
Derivative Liability
232
255
Companies
14,443,389.63
6,660,'t 30.72
60,365.04
8,462,145.2'l
5't8,424.M
sl,042.02
(12,81 0,375.01 )
(225,300,000.00)
(34,424,667.58\
297,91 9.58
34,739,235.80
151,477.O',!
'1,374,530.45
(1,000,956.58)
60,365.04
19,720,558.65
232,489.46
101,424.31
1 16,265.34
(2,426,913.O51
5,183.17
(9,385.1 5)
(1,171,958.00)
Misc Customer Credits
Other Defenod Credits - 253-l Uncl.
Accum Defened lnvestrnent Til Cr - Utility
OTH REGULATORY LIABILITIES]TC
252
zco
255
43,731.46
254001
(271,540.781
(4,806,665.1
B Bal
(1,1 51,995.07)
(112,621.8O\
(312,762.72\
242000 MiscsllaneousLong
282100
282108
282002
282003
282006
282004
243
Dsfened Taxes-Stats
Defened Stato Tax-QRS Transf
Defered Tdes-Full Defered
Defered Taes-Regulatory Asset Adjustment
Defered Tryes-Federal Minimum Tax Carryover
Defened Fed Taes-QRS Transf
22,325,.20
25,415,341.46
Taxes-Federal
Purchase Gas
4 15,749,806.48
59,738,709.15
1,430,466.27
1,207,744.97
!
Questar Gas Company
6
Page 2
Completed Construclion NotClasified - Gas
Conskuction Workin Proore$- Gas
Accum Prov for Depreciation of Gas Plantin Seruice
Accum Prov forAmortzatioh oIGas Plantin Seryice
Gas Plant Acquisi$on Adiustrnents
5,036.83'19,167,1 1 1.40
48,564,324.92
(483,936,154.79)
(s8,742.88)
6,414,450.15
5.036.83
21,318.273.89
Q7
1,995.407.03
6,896,423.45
(149,721.236.30)
1ss,755.46
37.292.4455,498.040.81
Q30,445.22..22\
(6 ,2O2,795.O7\
6,644.450.'15
(68,927,26s.s3)
(6,1 33,169.1't)
141
142
143.1
144
145
146
146.1
154
163
164
165
171
174
49,333,980.55
72,266.50
638,318.25
69.575.00 2,691.50
other special Deposits
Working Funds
Temporary Cash lnvestmenb
Notes Receivabl€
CustomerA,/R
Accts Roc - QEP Resources
Accum. Provision for Bad Debt
1,299,951.71
638,3t8.25
AR-AIlocated to Affi liates
Plant l\4atedals and Oporafn0 Supplies
Sto.es EpensE Undistributed
Gas Stored Underground
Prepald Expenses
lnterest and DMdends Rec.
Misc. Curent & Accrued Assets
27 ,456,296 .7 4
16S,832.68
3,471,463.42
311,321.28
163.899,803.65
1,29S,951.71
(1,656,564.17)
27 ,456 ,296.7 4
169,832.68
49,333,980.55
3,471,463.42
160,867,902.83
o.uun,rru.ra)
3,031,S00.82
12,654.21
31
34
1a23
1 82400
182401
1U
186
189.|90
1 90008
't 90009
191000
19'1000
191800
'19'1900
191901
Other Regulatory Assets
Reg Aset - DSM Programs- UT
Reg A$et - DSM Programs - v\Il
Clearino Accounts
MEc. Deterred Debits
Unamort Lo$ on Reaq Debt
Accum Deferod lncome Td
Accum Deferod TdegFedeEl
Accum Defetrod Tde$SlatE
Unrecovered Purchas€d Gas Costs - Utah
Unrecovered Purchas€d Gas CGts - In,yoming
Utah/ldaho Low ln@me Crediucharce
Utah/ldaho CET Balancinq
lr'ryoming CET BalanciDq
226,996.03
2,c61,49127
',,346,E70.99
56.707.20
7,396.774.37
883,944.50
174.E73.E4
(96,302.5n
(37,649.34)
3,215,372.38
143.866.70
2,061 ,491 .27
1,346,870.99
(u,710.32'
Q,927.3Er'.12\
56,707.20
169,778.34
883,944.50
174.873.84
(96,302.sA
(37,649.34)
3,215,37234
143.866.70
(84,71O.32)
Q,927,384.12)
272,445 ,462.43 272,445,462.83Premium on Common Stock
Prefered Stock Expense
Long-Tem Notes
UnamodPremium - LT Debt
Unamod Di$- LT Debt
100,000,000.00 100,000,000.00
Ac@unts Pawble - General
Notes Payable to Affliates
Ac@unts Payable to Affiliates
Customer Deposi{ts
Tdes Accrued
lnterestAccrued
DMdends Declared
Tax Colleclions Payable
Miscellaneous Curent & Aerued Uabililies
Derivativo Uaulity
110,803,269.49
48,000,000.00
(31,463,389.99)
(1,386.439.1 1)
6,916.940.51
14,443.389.63
6,660,130.72
60,365.04
2,316.38
6,457,564.57
(10.467.61)
265,894.62
'10.46E.1 1
1 10,805,585.87
48,000,000.00
(3,|,463,389.99)
4,723,159.19
(1,386,439.1 1)
5,916.941.01
't4,443,389.63
6,660.130.72
60.365.04
252
253
255000
254001
25402
other Defered credits- 25!1 Uncl.
Accum Defered lnvsEnent Td c. - Utility
Other Rwulatory Liabilities
Oth Reg Uab-Plant Remov B Bal
19,720,s58.65
232.489.46
101,428.31
1 16,265.34
190,404.024.84
1,124.79
71,060.27
184,187,333.43 6216.69''.41
188,758.00
713.25
1 16,265.34
'!9,210,0,{4.66
42,760.71
96,483,05
5't0,513.99
970.75
3,'107.22
M'mellaneous Long TemMe Cuslomor Cred(r
Deferred Tilesstate
Defored Stat6 Td{RS Transf
Deferrod TdFFull Defered
Def€rred Td*Regulatory Ast Adiuslment
O€ferrod TdeFedehl Minimum Td Caryover
Doferod F€d Tdes{RS TEnsf
59,738,709.15 '1,'t 19,041.35
11 501,863.93
700,755.31
389.081,373.70
57,918,912.49
Questar Gas Company Page 2
uhh
01
05
06
o7
08
11
14
Gas Plant Held for Future Use
completed Construction NotCla$ified - Gas
Construction Work in Progres - Gas
Accum Prcv for Depreciation of Gas Plant in SeNice
A@um Prov for Amorlbation of Gas Planl in SeNice
cas Plant Acquisition Adjudments
5,036.83
21,318,273.89
55,498,040.81
o30.445,222.221(6,202,795.07)
6,644,450.15
(uu,trr,ruu.u,)
(6,133,169.11)
5.036.83
19,167. t1 1.40
48,564,324.92
(483,936,154.79)
(58,742.88)
6,644,450.15
155,755.46
37.292.44
(27,860,565.60)
(10,883.08)
1,995,407.03
6,896,423.45
(1 4S,721,236.30)
141
142
143.1
144
145
146
146.1
ls4
163
164
165
171
174
Other Special Deposits
Working Funds
Temporary Cash lnwslments
Notes ReceiBble
Cuslomer y',/R
A6ts Rec - QEP Resour@s
A@um. Prcvision for 8ad DebtNol* Rec tum Affliates
A@unts Rec. fmm Affiliates
AR-Allocated to Affi liates
Plant Materials and operating Supplies
Slores Elpense Undistributed
Gas Stored Underground
Prepaid bpenses
lnterest and Divi'lends Rec.
Misc. Curent & Accrued Asels
1.299.951.71
638,318.25
49,333,980.55
3,4't1,463.42
311,321.28
131
134
135 72.266.50
31'l,321.28
69,575.00 2,691.50
:,oa',,noo.a,
12.6s4.21
27,456,298.74
169,832.68
163,899,803.6s
1,299,951.7,|
(1,656,564.1A
638,318.25
27 ,4s6 ,296.7 4
169,832.68
49,333,e80.55
3,471,463.42
160,867,902.83
(1,669,218.38)
1823
182400
182401
184
186
189
190
19000E
190009
191000
other Regulatory Assels
Reg Asset - DSIM Prcgrams - UT
Reg Asset - DSM Prcgrams - wY
Cleafing Accounts
Misc Defered Debh
Unamod Loss on Reacq Debt
Accum Defered lncome Tu
Acoum Defered TelFedeEl
Accum Defered Tesstate
Unre@Ered Purchased Gas Cosls - Utah
Unre@wred Purchased Gas costs - UrrominQ
Ulah/ldaho Low ln@me CrediUCharge
Utahldaho CET Balancho
Vwoming CET Balancinq
143,866.70
226,996.03
(37,649.34)
3.215,372.38
2,061,491.27
(84,710.32',t
(2,927,38l.12)
't 91000
800
900
90'l
3,664,540.83
7,169,778.U
883,944.50't74,873.U
(96,302.57)
1,345,870.99
56,707 20
7,396,771.37
883,944.50
174,873.U
(96,302.s7)
(37,649.34)
3,215,372.3E
143,866.70
2,06't,491.27
'1,346,870.99
(84,710.32)
(2p27,38r'.12t
56,707.20
272,445,4ts2.83 272,445,462.A3
Prefered Stock
Prefered stock lssued
Premium on Common stock
't00,000,000.00 100,000,000.00Long-Tem
Unamod Premium - LT Debt
lJnamod DLsc- LT Debt
Ac@unts Payable - GeneEl
Notes Payable to Affiliates
Ac@unts Payable to Afiiliates
Customer DeposftsTes Acmed
lnterest Amed
Divilends Declared
TaCollectjons Payable
Mi@llaneous Curent & A6rued Liabili[es
DedEtiw Liability
232
233
234
235
236
237
2.316.38
(1,386,439.1 1) 0,386,439.1 1)6,916,94'1.0' 6,916,940.51
214,500,000.00
1'10,803,269.49
48,000,000.00
(31,463,389.9S)
1 10,805,585.E7
48.000.000.00
(3't ,463,389.99)
6,723,459.19 6,457,564.57
(10,467.61)
265,894.62
10.468.1 I
14,443,389.63
6,660,130.72
60,365.04
,|4,443,389.63
6,660.130.72
60.365.04
Gher Deferred Credils - 253-1 Uncl.
A@um Defered lnwstment TaCr- Utility
other Regulatory LiabiliUes
Oth Reg LiaEPlant Remov B Bal
19,720,558.65
232,489.46
10'1,428.31
1 16,265.34
190.404.O24.84
1,121.79
1 84,187,s33.43 e,216.691.41
MIsc Cuslomer
188,758.00
1 16,26s.34
't9,21 0,044.66
42,760.71
96.483.05
510,513.99
s70.75
3,107.22
Defered TaEsstate
Defered State Ta-QRs Tmnsf
Defered TaEeFull Defetred
Delered TeeReg ulatory Asset Adjuslment
Defered Tffi gFedeEl l\4inimum Til Carryowr
Defered Fed TaES-QRS TEnsf
00
OE
59,738,709.t5 700,755.31 57,91 8,912.49
Questar Gas Company
Detail of lnvestment and Reserve Account
Page 3
Twelve Months Ending
December 20L5
Accou nts
101-105&114
lnvestment
Balance @ January 1,2076
Additions
Retirements
Reclassifications & Tra nfers
2,513,381,459.26
223,68L,776.42
(19,280,s29.LIl.
75,105,602.O0ents
19,010,987.90
7lntercomTransfers - Out
lntercompany Transfers - ln
Total Investment 11 .47
Accou nts
108-111&115
Reserve
Balance @ January 7,20L6
Retirements
Reclassifications, Transfers, & Acquisitions
Gain on Disposition of Assets
Loss on Disposition of Assets
Dismantling
Salvage Credits
Adjustments
Accruals to Account:
(748,372.641
403
404
254
163
t84
425
8t2,t85,246.92
(19,280,s29.11)
|t4,492,s17.87)
471,,928.96
60,965,333.86
2L,476.69
(L2s,441,809.84l.
2,524.26
5,160,930.56
8,199,926.25
4,720.
lntercompany Transfers - ln
I nte rco Transfers - Out
Total Reserve 737,640,017.34
Net Investment 07 13
Questar Gas Company
STATEMENT OF CASH FLOW
Year to Date @ December 31
2015
7
2016
Cash Flows From Operating Activities:
Net lncome 57.226.328.17 64.332.590.97
Adjustments to reconcile net income to cash provided from operating activities:
Depreciation and Amortization
ARO - Accum Depr Change
Share-based Compensation
Deferred Federal lncome Taxes
Deferred lnvestment Tax Credits
66,1 50,265.37
(75,121,334.00)
3,000,690.96
39,260,1 00.86
(1 1 2.621.80)
59,790,302.26
14,412.34
1,384,202.70
53,026,885.47
(1 50.070.37)
CASH PROVIDED FROM OPERATION ACTIVITIES BEFORE CHANGE IN ASSETS AND
LIABILITIES:
CHANGE IN ASSETS AND LIABILITIES
90,403,429.56 178,398,323.37
Accounts Receivable
Accounts Rec. from Affiliates
Plant Materials & Ops Supplies
Prepaid Expenses
Unrecovered Purchase Gas Costs
Asset Retire Obligation
Misc. Accounts Payable
Accounts Payable to Affiliates
Taxes Accrued
Other Funds or lnvestmenls
s,250,220.26
1,025,572.93
(1 5,984,006.45)
416,653.28
22,166,944.47
77,256,220.00
(1 3,633,075.78)
(38,424,667.58)
36,1 1 3,766.25
163 296 582 80
(8,699,s94.90)
16,134.74
(1 ,462,1 95.96)
(282,604.7s)
4,304,568.62
(1 8,932.03)
1 0,023,1 03.46
(28,313,818.1 1)
(36,475,649.3S)
3 120 000 64
CASH PROVIDED FROM OPERATING ACTIVITIES:327,887,639.74 1 20.609.335.65
CASH
(233,857,1(237,903,957.90)Expenditures
USED IN INVESTING ACTIVITIES:(378,284,664.64)
FLOWS FROM FINANCING ACTIVITIES
Cunent Port LT DeblBalance
Curent port LT Debt - Repaymt
Bonds - Long Term
Notes Rec. from Affiliates
Notes Payable to Affiliates 1 54,000,000.00(225,300,000.00)
contribution
Stock lssued
2,729,100.00
200,000,000.00
14,500,000.00
85,500,000.00
CASH PROVIDED FROM (USED IN) FINANCING AGTIVITIES:47,429,100.00 1 1 6,000,000.00
INGREASE (DECREASE) tN CASH AND CASH EQUIVALENTS (2,967,924.90)(s,309,242.621
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 1 0,527,694.94 19,836,937.56
CASH AND CASH EQUIVALENTS AT THE END OF THIS PERIOD 7,559,770.04 10,527,694.94
Questar Gas Company
Comparative Statement of
lncome and Retained
Page 8
Utility Operating lncome Current Month
This Year
lncrease
Last
Revenues 1 75
Gas Purchases
Operating Expense
Maintenance Expense
Deprecialion Expense
Amortization and Depletion
Taxes Other Than lncome Taxes
lncome Taxes - Federal Util Oper Income
lncome Taxes - Deferred Federal Try-Utility
lncome Taxes - State Util Oper lncome
102,763,128.29
1'1,427 ,427 .45
1,007,496.42
5,382,5'13.27
1,751.2'l
1,918,873.96
11,474,552.55
(1,284,125.82)
1,636,037.37
'107,020,809.15
4j14,757.79
1,144,394.41
4,87a,767.28
1,906.61
't,839,039.87
(1 5,403,743.00)
26,965,443.02
(2,'t29,548.00)
(4,257,680.86)
(2,691,330.34)
(136,8e7.e9)
503,745.99
(1 55.40)
79,834.09
26,878,295.55
(28,249,572.84)
3,765,585.37
Utility Operating Expenses
992.38 't1
01
01
1'l
11
uti
Other lncome and Deductions
Other lncome
Federal lncome Tax - Other lncome & Deductions
State lncome Tax - Other lncome & Deductions
Deferred lncome Tax - Other lncome & Deductions
lnterest and Dividend lncome
Allow for Other Funds Used During Construction
lnvestment lncome from Afilliates
lnvestment Til Credit
Revenue from Nonutility Operations
Expense from Nonutility Operations
Miscellaneous Non-Operating Revenue
11
12,505.91
321,669.00
Gain on
22,569.93 75,431.31 (52,861.38)
9,385.15
(6,939,401.87)
6,939,401.87
336,985.00
(3,120.76)
(6,939,401.87)
6,939,401.87
15,316.00
(112,032.45)
(15,962.63)
'1,898,186.25
(17,270.0O)
(2,o1O,218.70)
1,307.37
19'100
'19002
417
417.1
421000
421100
Other lncome
2,166.25
21,333.33
2,002.06
20,908.33 425.OO
lncome Deductions
&
411100 Accretion Expense
Loss on Disposition of Property
Miscellaneous Amortization
Miscellaneous lncome Deductions
Deductions
Deductions 217
lnterest - Long term Debt
Amortization of Debt Discount & Expense
lnterest on Debt to Affiliates001 Other lnterest Expense009 lnterest on Short-Term Debt 11.131 .57 65.55 11,066.02
[Jsed
2,552,923.79
71,009.62
104,751 .83
2,255,021.00
70,o42.35
80,184.03
297,902.79
967.27
24,567.80
Retained Earnings
Retained Earnings (Beg of Period)
Unappropriated Retained Earnings
Balance Transferred from lncome
Dividends on Preferred Stock
Dividends Declared - Common
216
341,1 20,687.30
20,955,672.54
312,235,779.36
22.614,252.31
28,454,907.94
(1,658,579.77\
031.67 27
Questar Gas Company
Comparative Statement of
lncome and Retained
Page I
Utility Operating lncome Twelve Months lncrease
This Year Last Year
91 7,372,395.36 917 11Revenues.47
Gas Purchases
Operating Expense
Maintenance Expense
Depreciation Expense
Amortizatiion and Depletion
Taxes Other Than lncome Taxes
01 lncome Taxes - Federal Util Oper lncome
1 1 lncome Taxes - Deferred Federal Tax-Utility
1 1 lncome Taxes - State Util Oper lncome
542,102,394.73
144,'t 10,958.34
12,805,655.22
60,965,333.86
21,476.69
20,864,958.36
1,002,110.25
29,O32,246.97
140,748.58
558,086,71 0.99
148,641,486.09
1 3,844,966.91
55,091,168.9'l
16,733.38
19,311,668.81
(6,81 7,61 3.00)
40,279,864.10
(2,272,888.O0)
(1 5,e84,31 6.26)
(4,53O,527.75)
(1,039,31 1.69)
5,874,164.95
4,743.31
1,553,289.55
7,819,723.25
(11,247 ,6'17.13)
2,413,636.58
Utility Operating Expenses
01
Other lncome and Deductions
Other lncome
Federal lncome Til - Other lncome & Deductions
Stale lncome Ta - Other Income & Deductions
Defened lncome Taxes-Other lncome & Deductions
Interest and Dividend lncome
Allow for Other Funds Used During Construction
Interest lncome from Associated Companies
lnvestment Tax Credit
Revenue from Nonutility Operations
3,929,124.OO
1 100
(173,365.45)
(s7,490.63)
(895,676.00)
290,935.1 I
112,621.4O
3,221,504.67
(3,221,504.67)
3,894,670.00
9,142,108.25
(21 9,1 95.00)
(8,475,971.00)
1,215,544.77
533.83
1 50,070.37
(9,315,473.70)
121.704.37
7,580,295.00
(924,613.58)
(533.83)
(37,448.s7)
3,221,504.67
(3,221,504.67)
(34,454.00)
.l Expense from Nonutility Operations
00O Miscellaneous Non-Operating Revenue
Total Other
Other lncome Deductions
411100 Accretion Expense
421200 Loss on Disposition of Property425 MiscellaneousAmortization426 Donations and Other Deductions 339,744.02
189.12 149.12
25,995.00
360,553.60 (20,809.58)
&
22,605.71
18,036.33
3,389.29
(1 8,036.33)
lncome Deductions 1 14 401 195.64
and Deductions 77
lnterest - Long term Debt
Amortization of debt Discount & Expense
Interest on Debt to Affiliates
Other Interest Expense
lnterest on Short Term Debl 1 ,082.1 29.83 172,677.35 909,452.4A
Funds
27,358,154.79
a41,475.47
1,322,853.87
27,060,252.00
840,508.20
3U,117.24
297,902.79
967.27
988,736.63
Retained Earnings
Relained Earnings (Beg of Period)
Unappropriated Retained Earnings
Balance Transferred from lncome
Dividends on Preferred Stock
Dividends Declared - Common
437
438 (3O,000,o00.00)(38,000,000.00)8,000,000.00
334,850,03't.67
57,226,328.17
308,517,440.70
64,332,590.97
26,332,590.97
(7,106,262.80)
Questar Gas Company
Gomparative Statement of
lncome and Retained
Utility Operating lncome Twelve Months lncrease
400
4O1 Gas Purchases401 Operating Expense4O2 MaintenanceExpense
403 DepreciationExpense
404 Amortization and Depletion
408 Taxes OtherThan lncome
409101 Income Taxes - Federal Utjl Oper lncome
41011 I lncome Taxes - Deferred Federal Tax-Util,ty
409111 lncome Taxes - State Util Oper lncome
s42,102,394.73
'144,110,958.34
12,805,655.?2
60,965,333.86
21,476.69
20,864,958.36
1,002,110.25
?9,032,246.97
140,748.58
558,086,710.99
148,641,486.09
1 3,844,966.91
55,091,168.91
16,733.38
19,31 1 ,668.81
(6,817,613.00)
40,279,864.10
(2,272,888.0o)
(15,984,316.26)
(4,s30,527.75)
(1 ,03e,3'l 1.6e)
5,874,1 64.95
4,743.31
1,553,289.55
7,819,723.25
(11 ,247 ,617 .13)
2,413,636.58
Utility Operating Expenses
41010'l lncome Tdes -.ol 78
409201
409211
410201
41 9000
4'19100
419002
420000
417
417.1
421000
Other lncome
Federal lncome Tax - Other lncome & Deductions
State lncome Tax - Other Income & Deductions
Defened lncome Taxes - Other lncome & Deductions
lnterest and Dividend lncome
Allow for Other Funds Used During Construction
lnteresl lncome From Affiliates
lnvestment Tax Credit
Revenue from Nonutility Operations
Expense from Nonutility Operations
Miscellaneous Non-Operatlng Revenue
(e,31
00 on
3,925,124.00
19
(924,61
154.45
(1 73,365.45)
(97,490.63)
(895,676.00)
290,935.19
112,621.80
3,221,5U.67
(3,221,504.67)
3,894,670.00
9,'t42,108.25
(219,19s.00)
(8,47s,971.00)
1,215,548.77
533.83
150,070.37
121,704.37
7,580,295.00
(s33.83)
(37,448.57)
3,221,504.67
(3,221,5O4.67)
(34,4s4.00)
747 1
411100 Accretion Expense
421200 Loss on disposition fo Property425 MiscellaneousAmortization426 Donations and Other Deductions 339,744.02
25,995.00
360,553.60 (20,809.58)
&
22,605.71
'18,036.33
3,389.29
(1 8,036.33)
Total
1.77
lnterest - Long term Debt
Amortization of Debt Discount and Expense
lnterest on Debt to Affiliates
001 lnlerest on Short Term Debt
1009 Other lnterest Expense
Const - Cr
172,677.35 909,452.481,082,1 29.83
27,358,154.75
841,475.47
1,322,853.87
27,060,252.00
840,508.20
334,117.24
297,902.79
967.27
988,736.63
I
Net lncome
Retained Earnlngs
Retained Eamings (Beg of Period)
Unapprop.iated Retained Earnings
Balance Transfened from lncome
Dividends on Prefened Stock
Dividends Declared - Common
334,850,031.67
57,226,328.17
1ao,ooo,ooo.oo1
308,517,440.70
64,332,590.97
(38,OOO,OOO.OO)
16
(7,'106,262.80)
8,000,000.00
17.67 27
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Company
Paoe 23
December 2016
Operation Superuision and Engineering
Distribution Load Dispatching
Compressor Station Labor and Expenses
Compressor Station Fuel and Power
Mains and Seruice Expenses
Measuring and Regulating Station Expense
Meter and House Regulator Expenses
Customer lnstallations Expenses
Other Expenses
Rents
This Year Last Year
Total
63,1 64.76
3,840.34
62,626.25
4,843.24
26,300.71
14,222.42
12,242.67
17,574.26
58,464.00
55,724.93
11,524.'t5
10,796.94
42,988.23
8'1,882.04
This Year
(1 39,091.37)
21 1,453.09
4,254.OO
1,031,221.59
290,660.30
334,779.65
409,1 38.32
404,422.54
Last Year
1,440,850.69
262,128.37
2,016.64
797,654.95
154.416.51
306,173.96
377,896.76
859,737.00
4,254.00
1,004,920.88
272,437.AA
322,536.98
391,560.06
345,958.54
Utah Distribution
This Year Last Year(202,256.13l. 1,37A,224.44207,612.75 257,285.13
2,016.64
741,930.02
u2,492.36
295,377.02
334,908.53
777,854.96
18
Maintenance Superuision and Engineering
Maintenance of Structures & lmprovements
Maintenance of Mains
Maintenance of Compressor Station Equip.
Maintenance of Meas. & Reg. Station Equif
Maintenance of Seruices
Maintenane of Meters and House Regulat
Maintenance of Communietion Equipment
53,799.56
7,432.57
759,790.39
36,449.74
22,466.62
44,829.86
42,727.64
88,745.80
9,288.46
751,956.1 5
126,416.37
't8,564.18
96,062.57
53,360.88
52,215.54
7,227.20
740,300.37
27,719.03
10,829.74
43,320.52
82,629.00
85,912.36
9,023.1 3
738,561.38
118,246.43
8,187.72
87,943.07
52,974.49
1,584.02
1 9,490.02
8,730.75
I 1,636.88
1,509.34
98.64
2,833.44
265.33
13,394.77
8,1 69.94
10,376.46
8,1 1 9.50
385.99
Maintenance
Operation Superuision and Engineering
Distribution Load Dispatching
Compressor Station Labor and Expenses
Compressor Station Fuel and Power
Mains and Serui@ Expenses
Measuring and Regulating Station Expense
Meter and House Regulator Expenses
Customer lnstallations Expenses
Other Expenses
32,658.97
1 1,493,505.08
2,757,574.73
3,664,645.70
3,502,591.76
10,572,361.06
20,047.90
10,548,731.00
2,398,940.60
3,561,376.25
3,553,'195.06
1 0,868,969.58
32,658.97
1 1,089,697.09
2,594,'t32.87
3,496,321.89
3,341,396.71
9,746,861.28
20,047.90
9,887,454.89
2,246,376.9'l
3,406,444.14
3,327,209.62
9,929,278.22
590,841.26
37 126.00
879
880
525,996.07
40,083.1 5
403,807.99
163,441.86
1 68,323.81
1 61 ,1 95.05
825,499.78
661,276.'t't
152,563.69
'154,532.',t1
225,985.44
939,691.36
'I 1,393,020.33
2,O80,372.17
1't,590,377.70
2,106,963.03
10,4o2,179.O7
2,O43,246.17
11,064,381.63
2,066,879.88
Total 761 997.20
885
886
887
888
889
892
893
894001
Maintenane Superuision and Engineering
Maintenance of Struclures & lmprovements
Maintenan@ of Mains
Maintenane of Compressor Station Equip.
Mainlenance of Meas. & Reg. Station Equif
Maintenance of Services
Maintenance of Meters and House Regulatl
Maintenan@ of Communietion Equipment
629,666.44
83,341.49
9,1 32,866.30
'l,198,350.24
204,785.58
794,Oga.72
762.546.45
675,938.02
85,434.55
9,207,102.65
1,987,M3.61
216,03 1.31
902,993.69
769,823.08
610,334.87
80,910.33
8,988,882.50
1,068,41 3.1 5
94,475.42
742,6',t0.73
758,542.29
654,472.62
82,U1.72
9,065,966.40
1,825,724.71
121JU.68
821,862.46
765,962.8'l
1 9,331.57
2,431.16
143,983.80
129,937.09
'l'10,3't0.16
51,487.99
4,004.16
2'1,465.40
2,592.83
141,1 .25
161,918.90
94,626.63
81,131.23
3,860.27
894000 Maintenan@
461 93
Operation Superuision and Englneering
Distribution Load Dispatching
Compressor Station Labor and Expenses
Compressor Station Fuel and Power
Mains and Seru,@ Expenses
Measuring and Regulating Station Expense
Meter and House Regulator Expenses
Customer lnstallations Expenses
Other Expenses
32,658.97
1 1,493,505.08
2.757.574.73
3,664,645.70
3,502,591.76
10,572,361.06
20,047.90
10,548,73'1.00
2,398,940.60
3,56 1,376.25
3,553,1 95.06
10,868,969.58
32,658.97
1 1,089,697.09
2,594,132.87
3,496,321.89
3,341,396.71
9,746,861.28
20,047.90
9,887,4s4.89
2,246,376.91
3,406,844.14
3,327,209.62
9,929,27A.22
590,841.26
37.126 00
11.64
870 525,996.07
40,083.1 5
403,807.99
1 63,44 1.86
168,323.81
161,1 95.05
825,499.78
661,276.',t1
152,563.69
154,s32.11
225,985.44
939,691.36
'11,393,020.33
2,O80,372.',t7
11,590,377.70
2,1 06,963.03
10,402,179.O7
2,043,246.17
I 1,064,38'1.63
2,066,879.88
Maintenane Supervision and Engineering
Maintenan@ of Structures & lmprovements
Maintenance of Mains
Maintenance of Compressor Station Equip.
Maintenance of Meas. & Reg. Station Equif
Maintenance of Services
Maintenance of Meters and House Regulat(
Maintenan@ of Communi€tion Equipment
629,666.44
83,341.49
9,1 32,866.30
1,'.t98,350.24
204,785.58
794,O98.72
762,546.4s
67s,938.02
85,434.55
9,207,102.65
1,987,643.61
216,031.3'1
902,993.69
769,823.08
610,334.87
80,910.33
8,988,882.50
1,068,413.1 5
s4,475.42
742,610.73
758,542.29
6s4,472.62
82,841.72
9,065,966.40
1,825,724.71
121,404.68
821p62.6
765,962.81
19,331.57
2,431.16
143,983.80
129,937.09
110,310.16
51,487.99
4,004.16
21,465.40
2,592.83
141,'t36.25
161,9 1 8.90
94,626.63
8t,13'1.23
3,860.27
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Questar Gas Gompany
TAXES PAYABLE
P E28
December 2016
OUNT 236 AMOUNT
Federal Income Taxes
Property Taxes
U nemployment I nsu rance
State Income Tax
Use Tax
(e57.07)
0.00
5,129.07
(148.7e)
161,534.91
(1,334,855.9e)
0.00
0.00
17 141.24
ing Franchise Tax
Federal Environmental Tax
Section 29 Credits
Other Taxes
ACCOUNT 241 AMOUNT
Federal Taxes
Wyoming Sales
Wyoming Franchise Tax
Utah Sales
Utah Met
Utah Franchise Tax
Utah WH
Use Tax
Telecomm Tax
Other
401,590.36
207,154.82
1,441,399.35
6,864,423.76
5,321,378.00
198,985.76
0.00
0.00
8,387.61
69.97
TAX COLLECTIONS PAYABLE 1 389.63
TOTAL TAXES PAYABLE 13 950.52