File No. 69-292
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
____________________________
Form U-3A-2 for 1994
Statement by Holding Company Claiming Exemption
Under Rule U-2 From the Provisions of the Public
Utility Holding Company Act of 1935
To Be Filed Annually Prior to March 1
QUESTAR CORPORATION
(Name of Company)
hereby files with the Securities and Exchange Commission,
pursuant to Rule 2, its statement claiming exemption as a holding
company from the provisions of the Public Utility Holding Company
Act of 1935, and submits the following information:
1. Name, state of organization, location and nature of
business of claimant and every subsidiary thereof, other than any
exempt wholesale generator (EWG) or foreign utility company in
which claimant directly or indirectly holds an interest.
Questar Corporation ("Questar" or the "Company") is a Utah
corporation with its principal executive office and principal
place of business at 180 East First South Street, P.O. Box 45433,
Salt Lake City, Utah 84145-0433. On October 2, 1984, the Company
filed an initial Form U-3A-2 with the Securities and Exchange
Commission following a holding company reorganization in which
Mountain Fuel Supply Company ("Mountain Fuel") became a
subsidiary of Questar. Questar subsequently filed a Form U-3A-2
on March 1, 1985, and on or before each subsequent March 1 to the
present time.
As a parent company, Questar provides certain administrative
services, e.g., personnel, legal, public relations,
communications, tax, financial, and audit, to companies within
the consolidated group. Questar has direct subsidiaries:
Mountain Fuel, a Utah corporation; Entrada Industries, Inc., a
Utah corporation ("Entrada"); Questar Pipeline Company, a Utah
corporation ("Questar Pipeline"); Questar Service Corporation, a
Utah corporation ("Questar Service"); Universal Resources
Corporation, a Texas corporation ("URC"); and Questar Development
Corporation, a Utah corporation ("Questar Development"). The
Company owns 100 percent of the common stock issued by each of
these directly held subsidiaries.
Mountain Fuel is engaged in the retail distribution of
natural gas in the states of Utah, Wyoming, and Idaho. Mountain
Fuel also transports natural gas for industrial users in Utah and
Wyoming. Mountain Fuel's activities in Utah and Wyoming are
subject to regulation by the respective Public Service
Commissions in those states. Mountain Fuel has a contract to
sell and transport natural gas to one customer in Colorado. This
isolated activity is not subject to the jurisdiction of the
Colorado Public Utilities Commission. Mountain Fuel's customers
in Idaho are served under the provisions of its Utah tariff.
Pursuant to a special contract with the Idaho Public Utilities
Commission, Mountain Fuel's Idaho natural gas service is
regulated by the Public Service Commission of Utah.
Questar Pipeline currently gathers, processes, transports
and stores natural gas in interstate commerce in the Rocky
Mountain states of Utah, Wyoming, and Colorado. Questar Service
owns data processing and communications equipment and systems and
performs data processing and communications services for other
members of the consolidated group and third parties. URC is
engaged in the exploration, production, and development of oil
and natural gas. URC also markets natural gas to industrial end-
users and other customers throughout the Rocky Mountain and the
Pacific Northwest areas. Questar Development is engaged in
business planning and development activities and through a
subsidiary, Interstate Land Corporation, owns, develops and
manages real estate. With the exception of Mountain Fuel,
none of these companies is a "public utility company" as that
term is defined in the Public Utility Holding Company Act of
1935, as amended (the "Act"). Mountain Fuel, Questar Service,
and Questar Development have their principal executive offices at
180 East First South Street, Salt Lake City, Utah. Questar
Pipeline and URC have their principal executive offices at 79
South State Street, Salt Lake City, Utah.
Entrada engages in various businesses not subject to state
utility regulation through its two direct subsidiaries: Wexpro
Company ("Wexpro"), which conducts oil and gas development and
production activities on certain producing properties for the
benefit of Mountain Fuel in the Rocky Mountain region; and
Celsius Energy Company ("Celsius"), which engages in oil and gas
exploration and related development and production activities
throughout the western United States. Neither Entrada nor either
of its subsidiaries is a "public utility company," as such term
is defined in the Act. All three companies have their principal
offices at 79 South State Street, Salt Lake City, Utah.
Questar does not have any interest, direct or indirect, in
any exempt wholesale generator or foreign utility company.
2. A brief description of the properties of claimant and
each of its subsidiary public utility companies used for the
generation, transmission, and distribution of electric energy for
sale, or for the production, transmission, and distribution of
natural or manufactured gas, indicating the location of principal
generating plants, transmission lines, producing fields, gas
manufacturing plants, and electric and gas distribution
facilities, including all such properties which are outside the
state in which claimant and its subsidiaries are organized and
all transmission or pipelines which deliver or receive electric
energy or gas at the borders of such state.
Mountain Fuel, which is a "public utility company" for
purposes of the Act, was distributing natural gas to 572,174
sales and transportation customers (defined as active meters) in
Utah, southwestern Wyoming, southeastern Idaho, and western
Colorado as of year-end 1994. Of these customers, 550,351 were
located in Utah, 20,619 were located in southwestern Wyoming,
1,203 were located in southeastern Idaho, and one was located in
western Colorado. Mountain Fuel owns and operates approximately
17,648 miles of street mains, service lines and interconnecting
pipelines in its distribution system, including approximately
16,577 miles in its Utah distribution system.
Under the terms of a settlement agreement among Mountain
Fuel, Wexpro and various state parties ending several years of
litigation, Mountain Fuel owns the natural gas produced from gas
reservoirs that were productive as of August 1, 1981. Most of
these productive reservoirs are located in southwestern Wyoming
and northwestern Colorado; most of the gas produced from such
reservoirs is distributed to Mountain Fuel's retail natural gas
customers. Gas owned by Mountain Fuel but produced from
reservoirs outside the location of pipelines owned by Questar
Pipeline is generally sold to or exchanged with other companies.
Gas owned by Mountain Fuel (including related royalty gas)
constituted about 53 percent of Mountain Fuel's total gas supply
in 1994 and is reflected in Mountain Fuel's rates at "cost-of-
service" prices.
As of September 1, 1993, Mountain Fuel became directly
responsible for gas acquisition activities. Questar Pipeline
transports the gas volumes purchased directly by Mountain Fuel
and transports cost-of-service-gas owned by Mountain Fuel and
produced by Wexpro. Mountain Fuel takes delivery of gas from
Questar Pipeline and an unaffiliated interstate pipeline at
various points in Utah and Wyoming. Mountain Fuel does not
currently own any interstate transmission lines or gas
manufacturing plants. URC markets natural gas, but does not own
any distribution facilities in connection with such activities.
3. The following information for the last calendar year
with respect to claimant and each of its subsidiary public
utility companies:
(a) Number of kwh of electric energy sold (at
retail or wholesale) and Mcf of natural or manufactured
gas distributed at retail.
During the 1994 calendar year, Mountain Fuel sold 83,115,000
decatherms ("Dth") of natural gas, including 74,233,000 Dth at
retail, and transported 51,382,000 Dth of natural gas. (Mountain
Fuel generally reports volumes in Dth; a Dth is equal to ten
therms or one million Btu's. In Mountain Fuel's gas system, each
Mcf of natural gas contains approximately 1.07 Dth.) (For
purposes of this report, Mountain Fuel's "retail" customers are
general service or residential and commercial customers. The
term "wholesale" refers to industrial sales.) Mountain Fuel's
total revenues for 1994 were $378,260,000, of which $342,904,000
were attributable to its operations in Utah, $15,902,000 were
attributable to its operations in Wyoming, $118,000 were
attributable to its operations in Colorado, and $712,000 were
attributable to its operations in Idaho. (Mountain Fuel's total
1994 revenues included $18,624,000 in addition to revenues from
gas deliveries.) Mountain Fuel did not distribute any
manufactured gas during such calendar year. Questar (the parent)
did not make any retail distributions of natural gas or man-
ufactured gas during 1994. Neither Questar Pipeline nor URC made
any retail sales of natural gas or manufactured gas during 1994.
(b) Number of kwh of electric energy and Mcf of
natural or manufactured gas distributed at retail
outside the state in which each such company is
organized.
During the 1994 calendar year, Mountain Fuel distributed at
retail 3,239,000 Dth of natural gas outside the state of Utah,
Mountain Fuel's state of incorporation.
(c) Number of kwh of electric energy and Mcf of
natural or manufactured gas sold at wholesale outside
the state in which each such company is organized, or
at the state line.
During 1994, Mountain Fuel sold at wholesale outside the
state of Utah, or at the state line of such state, 283,000 Dth of
natural gas. Mountain Fuel, during 1994, also transported
3,769,000 Dth of natural gas to customers in Wyoming and
Colorado. Mountain Fuel did not sell at wholesale any
manufactured gas during 1994. Questar itself did not sell at
wholesale any natural gas or manufactured gas during 1994.
(d) Number of kwh of electric energy and Mcf of
natural or manufactured gas purchased outside the state
in which each such company is organized or at the state
line.
During the 1994 calendar year, Mountain Fuel purchased
26,472,000 Dth of natural gas or approximately 32 percent of its
total gas supply outside the state of Utah or at the state line.
Questar itself did not purchase any gas volumes.
4. The following information for the reporting period with
respect to claimant and each interest it holds directly or
indirectly in an EWG or a foreign utility company, stating
monetary amounts in United States dollars:
(a) Name, location, business address and description
of the facilities used by the EWG or foreign utility company
for the generation, transmission and distribution of
electric energy for sale or for the distribution at retail
of natural or manufactured gas.
None. Neither Questar nor any of its affiliates has any
interest, direct or indirect, in any exempt wholesale generator
or foreign utility company.
(b) Name of each system company that holds an interest
in such EWG or foreign utility company; and description of
the interest held.
None. Questar does not have any interest, direct or
indirect, in any exempt wholesale generator or foreign utility
company.
(c) Type and amount of capital invested, directly or
indirectly, by the holding company claiming exemption; any
direct or indirect guarantee of the security of the EWG or
foreign utility company by the holding company claiming
exemption; and any debt or other financial obligation for
which there is recourse, directly or indirectly, to the
holding company claiming exemption or another system
company, other than the EWG or foreign utility company.
None. Questar does not have any interest, direct or
indirect, in any exempt wholesale generator or foreign utility
company.
(d) Capitalization and earnings of the EWG or foreign
utility company during the reporting period.
None. Questar does not have any interest, direct or
indirect, in any exempt wholesale generator or foreign utility
company.
(e) Identify any service, sales or construction
contract(s) between the EWG or foreign utility company and a
system company, and describe the services to be rendered or
goods sold and fees or revenues under such agreements(s).
None. Questar does not have any interest, direct or
indirect, in any exempt wholesale generator or foreign utility
company.
UNDERTAKING
Questar hereby undertakes that it will not issue any shares
of its authorized preferred stock unless, on a pro forma basis
giving effect to such issuance, (1) consolidated earnings of
Questar and its subsidiaries available for interest and dividends
for a period of 12 consecutive calendar months within the 15
calendar months immediately preceding the issuance of such stock,
determined in accordance with generally accepted accounting
principles, would be at least one and one-half times the sum of
the annual interest requirements on consolidated long-term debt
of Questar (including current maturities and excluding interest
charges on indebtedness to be retired by the application of
proceeds from the issuance of such shares or in connection with
the transaction in which such shares are issued) and the annual
dividend requirements on shares of preferred stock of Questar and
its subsidiaries; (2) the aggregate outstanding long-term debt
(including current maturities) of Questar and its subsidiaries on
a consolidated basis is less than or equal to 60 percent of the
capitalization of Questar and its subsidiaries on a consolidated
basis; and (3) Questar's common stock represents at least 35
percent of the capitalization of Questar and its subsidiaries on
a consolidated basis. For purposes of the foregoing,
consolidated earnings of Questar and its subsidiaries available
for interest and dividends shall be determined on an after-tax
basis and shall be the sum of income before extraordinary items
and interest expense; pro forma income available for interest and
dividends and pro forma interest charges shall include income and
interest charges of businesses acquired, or proposed to be
acquired, in conjunction with the issuance of Questar preferred
stock, for the pro forma periods, regardless of whether the
company acquired shall be accounted for on a pooling-of-interests
basis or otherwise, provided that such earnings available for
interest and dividends is determinable for the acquired business
in accordance with generally accepted accounting principles; and
consolidated capitalization shall include long-term debt
(including current maturities), preferred stock and any premium
thereon, and the sum of the common equity accounts of the
company, all as prepared in accordance with generally accepted
accounting principles.
Questar has not issued any shares of its authorized
preferred stock and has no current plans to do so.
EXHIBIT A
A consolidating statement of income and surplus of the
claimant and its subsidiary companies as of the close of such
calendar year, together with a consolidating balance sheet of
claimant and its subsidiary companies as of the close of such
calendar year.
The following exhibits are attached to and made a part of
this filing:
Exhibit A-1 Consolidating Statement of Income of Questar
Corporation and Subsidiaries as of
December 31, 1994.
Exhibit A-2 Consolidated Statements of Common
Shareholders' Equity, Questar Corporation and
Subsidiaries.
Exhibit A-3 Consolidating Balance Sheet, Questar
Corporation and Subsidiaries as of
December 31, 1994.
Exhibit A-4 Consolidating Balance Sheet, Entrada
Industries, Inc., and subsidiaries as of
December 31, 1994.
EXHIBIT B
If, at the time a report on this form is filed, the
registrant is required to submit this report and any amendments
thereto electronically, the registrant shall furnish a Financial
Data Schedule.
The requested Financial Data Schedule information has been
submitted.
EXHIBIT C
An organization chart showing the relationship of each EWG
or foreign utility company to associate companies in the holding-
company system.
None.
The above-named Claimant has caused this statement to be
duly executed on its behalf by its authorized officer on this
27th day of February, 1995.
[corporate seal] QUESTAR CORPORATION
Attest:
/s/Connie C. Holbrook By /s/W. F. Edwards
Connie C. Holbrook W. F. Edwards
Vice President and Senior Vice President and
Secretary Chief Financial Officer
Name, title and address of officer to whom notices and
correspondence concerning this statement should be addressed:
Connie C. Holbrook
Vice President & Secretary
Questar Corporation
180 East First South, P.O. Box 45433
Salt Lake City, Utah 84145-0433
<TABLE>
Exhibit A-1
QUESTAR CORPORATION AND SUBSIDIARIES
CONSOLIDATING STATEMENT OF INCOME
YEAR ENDED DECEMBER 31, 1994
(In Thousands)
<CAPTION>
Mountain Total
Fuel Questar Combined Combined Before
Supply Pipeline E&P Other Elimin. Elimin. Consolid.
<S> <C> <C> <C> <C> <C> <C> <C>
REVENUES $374,240 $40,412 $254,564 $1,102 $670,318 $670,318
Intercompany transactions 4,020 75,196 77,349 28,099 184,664 184,664 0
TOTAL REVENUES 378,260 115,608 331,913 29,201 854,982 184,664 670,318
OPERATING EXPENSES:
Natural gas purchases 210,507 0 154,780 0 365,287 152,759 212,528
Operating and maintenance 94,094 42,778 44,846 20,876 202,594 28,514 174,080
Depreciation and
amortization 24,749 15,453 48,542 4,293 93,037 0 93,037
Other taxes 9,589 4,499 21,060 867 36,015 0 36,015
Wexpro settlement agreement-
oil income sharing 0 0 3,391 0 3,391 3,391 0
TOTAL OPERATING EXPENSES 338,939 62,730 272,619 26,036 700,324 184,664 515,660
OPERATING INCOME 39,321 52,878 59,294 3,165 154,658 0 154,658
INTEREST AND OTHER INCOME 7,820 (1,124) 586 2,867 10,149 3,637 6,512
EARNINGS FROM AFFILIATES 0 229 146 (1,930) (1,555) 0 (1,555)
WRITE-DOWN OF INVESTMENT 0 0 0
IN NEXTEL COMMUNICATIONS (61,743) (61,743) 0 (61,743)
DEBT EXPENSE (15,886) (13,107) (6,086) (8,369) (43,448) (3,637) (39,811)
INCOME (LOSS) FROM CONTINUING
OPERATIONS BEFORE INCOME TAXES 31,255 38,876 53,940 (66,010) 58,061 0 58,061
INCOME TAX EXPENSE (CREDIT) 7,903 13,047 13,724 (26,030) 8,644 0 8,644
INCOME (LOSS) FROM
CONTINUING OPERATIONS 23,352 25,829 40,216 (39,980) 49,417 0 49,417
GAIN FROM SALE OF QUESTAR
TELECOM 38,126 38,126 38,126
NET INCOME (LOSS) $23,352 $25,829 $40,216 ($1,854) $87,543 $0 $87,543
</TABLE>
<PAGE>
<TABLE>
QUESTAR CORPORATION AND SUBSIDIARIES
E&P CONSOLIDATING STATEMENT OF INCOME
YEAR ENDED DECEMBER 31, 1994
(In Thousands)
<CAPTION>
Celsius Universal Total
Wexpro Energy Resources Before
Company Company Corporation EliminationsEliminationsConsolidated
<S> <C> <C> <C> <C> <C> <C>
REVENUES $13,179 $16,950 $224,435 $254,564 $254,564
Intercompany transactions 57,871 33,474 21,845 113,190 35,841 77,349
TOTAL REVENUES 71,050 50,424 246,280 367,754 35,841 331,913
OPERATING EXPENSES:
Natural gas purchases 0 2,196 188,425 190,621 35,841 154,780
Operating and maintenance 13,254 11,506 20,086 44,846 0 44,846
Depreciation and
amortization 10,424 20,134 17,984 48,542 0 48,542
Other taxes 11,880 5,592 3,588 21,060 0 21,060
Wexpro settlement agreement-
oil income sharing 3,391 0 0 3,391 0 3,391
TOTAL OPERATING EXPENSES 38,949 39,428 230,083 308,460 35,841 272,619
OPERATING INCOME 32,101 10,996 16,197 59,294 0 59,294
INTEREST AND OTHER
INCOME (EXPENSE) 341 253 (8) 586 0 586
EARNINGS FROM AFFILIATES 0 0 146 146 0 146
DEBT EXPENSE (1,603) (610) (3,873) (6,086) 0 (6,086)
INCOME FROM CONTINUING
OPERATIONS BEFORE INCOME TAXES 30,839 10,639 12,462 53,940 0 53,940
INCOME TAX EXPENSE (CREDIT) 10,891 (369) 3,202 13,724 0 13,724
INCOME FROM
CONTINUING OPERATIONS $19,948 $11,008 $9,260 $40,216 $0 $40,216
</TABLE>
<PAGE>
<TABLE>
QUESTAR CORPORATION AND SUBSIDIARIES
OTHER OPERATIONS CONSOLIDATING STATEMENT OF INCOME
YEAR ENDED DECEMBER 31, 1994
(In Thousands)
<CAPTION> Total
Questar Questar Before
Questar Service Development Entrada Eliminations
<S> <C> <C> <C> <C> <C>
REVENUES $19 $685 $398 $0 $1,102
Intercompany transactions 56 26,043 2,000 0 28,099
TOTAL REVENUES 75 26,728 2,398 0 29,201
OPERATING EXPENSES:
Natural gas purchases 0 0 0 0 0
Operating and maintenance (1,981) 20,656 1,715 486 20,876
Depreciation and
amortization 142 3,922 200 29 4,293
Other taxes 327 252 288 0 867
Wexpro settlement agreement-
oil income sharing 0 0 0 0 0
TOTAL OPERATING EXPENSES (1,512) 24,830 2,203 515 26,036
OPERATING INCOME 1,587 1,898 195 (515) 3,165
INTEREST AND OTHER INCOME 5,476 (32) (2,730) 153 2,867
EARNINGS FROM AFFILIATES 0 0 (1,930) 0 (1,930)
WRITE-DOWN OF INVESTMENT 0
IN NEXTEL COMMUNICATIONS (61,743) 0 (61,743)
DEBT EXPENSE (7,298) (561) (456) (54) (8,369)
INCOME (LOSS) FROM CONTINUING
OPERATIONS BEFORE INCOME TAXES (61,978) 1,305 (4,921) (416) (66,010)
INCOME TAX EXPENSE (CREDIT) (23,084) 433 (3,220) (159) (26,030)
INCOME (LOSS) FROM
CONTINUING OPERATIONS (38,894) 872 (1,701) (257) (39,980)
GAIN FROM SALE OF QUESTAR
TELECOM 38,126 38,126
NET INCOME (LOSS) ($768) $872 ($1,701) ($257) ($1,854)
</TABLE>
<PAGE>
<TABLE>
Exhibit A-2
QUESTAR CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS' EQUITY
<CAPTION>
Note
Common Stock Retained Treasury Stock Receivable
Shares Amount Earnings Shares Amount from ESOP
(Dollars in Thousands)
<S> <C> <C> <C> <C> <C> <C>
Balances at January 1, 1992 41,230,979 $283,506 $282,361 (1,954,478) ($33,364) ($30,535)
Issuance of common stock 503,139 10,349 41,333 707
1992 net income 80,637
Payment of dividends
Preferred stock (800)
Common stock -
$1.04 per share (41,088)
Income tax benefit of
dividends paid to ESOP 580
Purchase of treasury stock (26,060) (659)
Collection of note
receivable from ESOP 2,116
Balances at December 31, 1992 41,734,118 293,855 321,690 (1,939,205) (33,316) (28,419)
Issuance of common stock 379,217 9,648 51,864 899
1993 net income 81,692
Payment of dividends
Preferred stock (695)
Common stock -
$1.09 per share (43,610)
Income tax benefit of
dividends paid to ESOP 560
Purchase of treasury stock (56,595) (1,979)
Collection of note
receivable from ESOP 1,617
Balances at December 31, 1993 42,113,335 303,503 359,637 (1,943,936) (34,396) (26,802)
Issuance of common stock 219,150 6,899 51,568 914
1994 net income 87,543
Payment of dividends
Preferred stock (591)
Common stock -
$1.13 per share (45,528)
Income tax benefit of
dividends paid to ESOP 516
Purchase of treasury stock (11,378) (365)
Collection of note
receivable from ESOP 2,259
Balances at December 31, 1994 42,332,485 $310,402 $401,577 (1,903,746) ($33,847) ($24,543)
</TABLE>
<PAGE>
<TABLE>
Exhibit A-3
QUESTAR CORPORATION AND SUBSIDIARIES
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
(In Thousands of Dollars)
<CAPTION>
Mountain Questar Universal Questar Questar Entrada
Interco. Questar Fuel Service Resources Pipeline DevelopmentIndustries
Consolid. Elimin. Corp. Supply Co. Corp. Corp. Co. Corp. Inc.
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CURRENT ASSETS
Cash and short-term
investments $7,549 $1,787 $2,529 ($51) $1,870 $1,448 $159 ($193)
Notes receivable from
affiliates 0 (99,700) 97,000 0 0 2,700
Federal income taxes
recoverable 0 0
Accounts and notes
receivable 143,081 (27,099) 6,499 74,220 2,491 37,073 15,236 390 34,271
Inventories 30,098 24,941 0 1,184 2,583 1,390
Prepaid expenses and deposits 12,397 1,018 4,279 1,448 413 2,809 85 2,345
TOTAL CURRENT ASSETS 193,125 (126,799) 106,304 105,969 3,888 40,540 22,076 634 40,513
PROPERTY, PLANT AND EQUIPMENT 2,263,170 1,610 739,945 40,052 264,396 615,313 23,393 578,461
Less allowances for
depreciation 955,536 1,299 280,162 26,082 109,058 203,008 8,372 327,555
NET PROPERTY, PLANT
AND EQUIPMENT 1,307,634 0 311 459,783 13,970 155,338 412,305 15,021 250,906
INVESTMENT IN AND ADVANCES
TO AFFILIATES 10,580 (698,104) 698,104 0 1,210 7,988 1,382 0
INVESTMENT IN NEXTEL 37,578 37,578
OTHER ASSETS 36,658 531 24,523 10 0 11,594 0
$1,585,575 ($824,903) $842,828 $590,275 $17,868 $197,088 $453,963 $17,037 $291,419
CURRENT LIABILITIES
Checks outstanding in
excess of cash balances 0 0
Short-term loans $94,900 $94,900 $0 $0 $0
Notes payable to affiliates 0 (94,700) 2,700 53,500 1,500 2,000 14,600 16,500 3,900
Accounts payable and
accrued expenses 90,023 (24,099) 5,201 42,099 1,756 39,300 11,875 514 16,377
Federal income taxes
payable 1,695 955 1,649 266 323 (1,080) (306) (112)
Other taxes payable 16,525 (107) 5,322 69 1,227 1,430 (20) 8,604
Purchased gas adjustments 17,071 17,071
Current portion of
long-term debt 0 0 0 0 0
TOTAL CURRENT LIABILITIES 220,214 (121,799) 103,649 119,641 3,591 42,850 26,825 16,688 28,769
LONG-TERM DEBT,
less current portion 494,684 (5,000) 85,000 175,000 5,000 83,000 134,506 178 17,000
DEFERRED CREDITS 46,223 1,840 21,283 1,531 5,683 4,861 218 10,807
DEFERRED INVESTMENT TAX
CREDITS 7,672 7,541 0 131
DEFERRED INCOME TAXES 156,869 (1,250) 55,025 643 (7,388) 68,683 (3,139) 44,295
CUMULATIVE PREFERRED STOCK 6,324 6,324
COMMON SHAREHOLDERS' EQUITY
Common stock 310,402 (43,146) 310,402 22,974 277 5,999 6,551 3,036 4,309
Additional paid-in capital (190,865) 41,875 4,724 58,325 82,034 3,907 0
Retained earnings 401,577 (464,093) 401,577 140,612 2,102 8,619 130,372 (3,851) 186,239
Treasury stock at cost (33,847) 0 (33,847) 0 0
Note receivable from ESOP (24,543) 0 (24,543)
Unrealized gain (loss)
on securities 0 0 0
TOTAL COMMON
SHAREHOLDERS' EQUITY 653,589 (698,104) 653,589 205,461 7,103 72,943 218,957 3,092 190,548
$1,585,575 ($824,903) $842,828 $590,275 $17,868 $197,088 $453,963 $17,037 $291,419
</TABLE>
<PAGE>
<TABLE>
Exhibit A-4
ENTRADA INDUSTRIES, INC. AND SUBSIDIARIES
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1994
(In Thousands of Dollars)
<CAPTION>
Entrada Celsius
Intercompany Industries Wexpro Energy
Consolid. Eliminations Inc. Co. Co.
<S> <C> <C> <C> <C> <C>
CURRENT ASSETS
Cash and short-term
investments ($193) $61 ($1,356) $1,102
Notes receivable from
affiliates 2,700 0 2,400 0 300
Federal income taxes
recoverable 0
Accounts and notes receivable 34,271 (915) 4,711 17,286 13,189
Inventories 1,390 0 1,217 173
Prepaid expenses and deposits 2,345 695 990 660
TOTAL CURRENT ASSETS 40,513 (915) 7,867 18,137 15,424
PROPERTY, PLANT AND EQUIPMENT 578,461 2,665 241,269 334,527
Less allowances for
depreciation 327,555 1,925 126,359 199,271
NET PROPERTY, PLANT
AND EQUIPMENT 250,906 0 740 114,910 135,256
INVESTMENT IN AFFILIATES 0 (189,494) 189,494 0
OTHER ASSETS 0 0 0
$291,419 ($190,409) $198,101 $133,047 $150,680
CURRENT LIABILITIES
Checks outstanding in
excess of cash balances 0
Short-term loans 0 0 0 0
Notes payable to affiliates $3,900 0 0 $3,900
Accounts payable and
accrued expenses 16,377 (915) 1,552 5,171 10,569
Federal income taxes payable (112) (336) (431) 655
Other taxes payable 8,604 605 2,394 5,605
Current portion of
long-term debt 0 0 0
TOTAL CURRENT LIABILITIES 28,769 (915) 1,821 11,034 16,829
LONG-TERM DEBT,
less current portion 17,000 0 17,000 0
DEFERRED CREDITS 10,807 6,332 3,944 531
DEFERRED INCOME TAXES 44,295 (600) 20,275 24,620
COMMON SHAREHOLDER'S EQUITY
Common stock 4,309 (67,917) 4,309 22,517 45,400
Additional paid-in capital 0 (39,774) 0 39,774
Retained earnings 186,239 (81,803) 186,239 58,277 23,526
Treasury stock at cost 0 0 0
TOTAL COMMON
SHAREHOLDER'S EQUITY 190,548 (189,494) 190,548 80,794 108,700
$291,419 ($190,409) $198,101 $133,047 $150,680
</TABLE>
<PAGE>
[TYPE] EX-27
[ARTICLE] OPUR3
[LEGEND]
The schedule contains summarized financial information extracted from the
Questar Corporation Statements of Income and Balance Sheet for the period
ended December 31, 1994, and is qualified in its entirety by reference to
such audited financial statements.
[MULTIPLIER] 1,000
<TABLE>
<S> <C>
[PERIOD-TYPE] 12-MOS
[FISCAL-YEAR-END] DEC-31-1994
[PERIOD-END] DEC-31-1994
[BOOK-VALUE] PER-BOOK
[TOTAL-ASSETS] 1,585,575
[TOTAL-OPERATING-REVENUES] 670,318
[NET-INCOME] 87,543
</TABLE>
