File No. 69-292
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
____________________________
Form U-3A-2 for 1996
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 several direct subsidiaries: Questar Regulated Services
Company, a Utah corporation ("Regulated Services"); Entrada Industries,
Inc., a Utah corporation ("Entrada"); and Questar InfoComm, Inc., a Utah
corporation ("Questar InfoComm"). The Company owns 100 percent of the
common stock issued by each of these directly held subsidiaries.
Regulated Services has two subsidiaries: Mountain Fuel, a Utah
corporation and Questar Pipeline Company, a Utah corporation ("Questar
Pipeline"). 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 transports and stores
natural gas in interstate commerce in the Rocky Mountain states of Utah,
Wyoming, and Colorado.
Questar InfoComm 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.
Entrada engages in various businesses not subject to state utility
regulation through several 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; Celsius Energy Company ("Celsius"), which engages
in oil and gas exploration and related development and production
activities throughout the western United States and Canada (Canadian
operations are conducted by Celsius Energy Resources Ltd.); Universal
Resources Corporation ("Universal Resources"), which is engaged in oil
and gas exploration and related development and product activities,
primarily in the Midcontinent; Questar Energy Trading Company ("Questar
Energy Trading"), which conducts marketing activities; Questar Gas
Management Company ("Questar Gas Management"), which is engaged in
gathering and field processing activities; and Questar Energy Services,
Inc. ("Questar Energy Services"), which provides unregulated
energy-related services. Neither Entrada nor any of its subsidiaries is
a "public utility company," as such term is defined in the Act. All
companies owned by Entrada have their principal offices at 79 South
State Street, Salt Lake City, Utah.
With the exception of Mountain Fuel, none of the companies
directly or indirectly owned by Questar is a "public utility company" as
that term is defined in the Public Utility Holding Company Act of 1935,
as amended (the "Act"). Regulated Services, Mountain Fuel, and Questar
InfoComm have their principal executive offices at 180 East First South
Street, Salt Lake City, Utah. Questar Pipeline, Entrada, and Entrada's
subsidiaries have their principal executive 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 "gas utility company" for purposes of
the Act, was distributing natural gas to 618,231 sales and
transportation customers (defined as active meters) in Utah,
southwestern Wyoming, southeastern Idaho, and western Colorado as of
year-end 1996. Of these customers, 595,604 were located in Utah, 21,301
were located in southwestern Wyoming, 1,325 were located in southeastern
Idaho, and one was located in western Colorado. Mountain Fuel owns and
operates approximately 18,685 miles of street mains, service lines and
interconnecting pipelines in its distribution system, including
approximately 17,737 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 54 percent of Mountain Fuel's total gas supply in 1996
and is reflected in Mountain Fuel's rates at "cost-of-service" prices.
As of September 1, 1993, Mountain Fuel became directly responsible
for all 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. Questar Energy Trading markets natural gas
and electricity, 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 1996 calendar year, Mountain Fuel sold 89,428,000
decatherms ("Dth") of natural gas, including 80,844,000 Dth at retail,
and transported 49,499,000 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 1996 were $371,928,000, of which $336,386,000
were attributable to its operations in Utah, $15,382,000 were
attributable to its operations in Wyoming, $527,000 were attributable to
its operations in Colorado, and $745,000 were attributable to its
operations in Idaho. (Mountain Fuel's total 1996 revenues included
$18,888,000 in addition to revenues from gas deliveries.) Mountain Fuel
did not distribute any manufactured gas during such calendar year. None
of Mountain Fuel's affiliated companies made any sales of natural gas or
manufactured gas during 1996.
(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 1996 calendar year, Mountain Fuel distributed at retail
3,466,000 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 1996, Mountain Fuel sold at wholesale outside the state of
Utah, or at the state line of such state, 587,000 Dth of natural gas.
Mountain Fuel, during 1996, also transported 1,313,000 Dth of natural
gas to customers in Wyoming. Mountain Fuel did not sell at wholesale
any manufactured gas during 1996. Questar itself did not sell at
wholesale any natural gas or manufactured gas during 1996.
(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 1996 calendar year, Mountain Fuel purchased 21,404,000
Dth of natural gas or approximately 23 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 and its affiliates do 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,
1996.
Exhibit A-2 Consolidating Statement of Income of Questar
Corporation and Subsidiaries, Market Resources, as
of December 31, 1996.
Exhibit A-3 Consolidating Statement of Income of Questar
Corporation and Subsidiaries, Other Operations, as
of December 31, 1996.
Exhibit A-4 Consolidated Statements of Common Shareholders'
Equity, Questar Corporation and Subsidiaries.
Exhibit A-5 Consolidating Balance Sheet, Questar Corporation and
Subsidiaries as of December 31, 1996.
Exhibit A-6 Consolidating Balance Sheet, Entrada Industries,
Inc., and Subsidiaries as of December 31, 1996.
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, 1997.
[corporate seal] QUESTAR CORPORATION
Attest:
/s/Connie C. Holbrook By /s/S. E. Parks
Connie C. Holbrook S. E. Parks
Vice President and Vice President, Treasurer 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
Exhibit A-1
QUESTAR CORPORATION AND SUBSIDIARIES
CONSOLIDATING STATEMENT OF INCOME
YEAR ENDED DECEMBER 31, 1996
(In Thousands)
<TABLE>
<CAPTION>
Mountain Total
Fuel Questar Market Other Before
Supply Pipeline Resources Operations Elimin. Elimin. Consol.
<S> <C> <C> <C> <C> <C> <C> <C>
REVENUES $368,905 $38,837 $408,205 $2,034 $817,981 $817,981
Intercompany transactions 3,023 65,341 107,843 29,723 205,930 205,930
TOTAL REVENUES 371,928 104,178 516,048 31,757 1,023,911 205,930 817,981
OPERATING EXPENSES:
Natural gas and other product purchases 182,400 304,575 486,975 172,704 314,271
Operating and maintenance 97,110 39,959 66,741 23,037 226,847 30,458 196,389
Depreciation and
amortization 28,309 14,206 58,590 4,104 105,209 105,209
Other taxes 8,071 2,519 19,034 865 30,489 30,489
Wexpro settlement agreement-
oil income sharing 2,768 2,768 2,768
TOTAL OPERATING EXPENSES 315,890 56,684 451,708 28,006 852,288 205,930 646,358
OPERATING INCOME 56,038 47,494 64,340 3,751 171,623 171,623
INTEREST AND OTHER INCOME (EXPENSE) 3,033 1,798 1,104 15,503 21,438 7,638 13,800
EARNINGS FROM AFFILIATES 182 (1,015) (833) (833)
DEBT EXPENSE (16,637) (13,416) (8,704) (9,964) (48,721) (7,638) (41,083)
INCOME BEFORE INCOME TAXES 42,434 36,058 55,725 9,290 143,507 143,507
INCOME TAX EXPENSE (CREDIT) 13,446 13,415 13,963 4,538 45,362 45,362
NET INCOME $28,988 $22,643 $41,762 $4,752 $98,145 $98,145
</TABLE>
<PAGE>
Exhibit A-2
QUESTAR CORPORATION AND SUBSIDIARIES
MARKET RESOURCES CONSOLIDATING STATEMENT OF INCOME
YEAR ENDED DECEMBER 31, 1996
(In Thousands)
<TABLE>
<CAPTION>
Celsius Universal Questar Questar Questar Total Intra- Total
Wexpro Energy Resources Energy Gas Energy Before segment Market
Company Company Corp. Trading Mgmt Services Elim. Elimin. Resources
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
REVENUES $14,619 $15,618 $127,722 $237,788 $12,455 $3 $408,205 $408,205
Intercompany transactions 53,119 20,714 6,973 11,669 15,368 107,843 31,965 75,878
TOTAL REVENUES 67,738 36,332 134,695 249,457 27,823 3 516,048 31,965 484,083
OPERATING EXPENSES
Natural gas and other
product purchases 327 64,971 238,792 485 304,575 31,965 272,610
Operating and maintenance 15,022 10,786 23,241 2,132 15,046 514 66,741 66,741
Depreciation and
amortization 12,816 17,992 23,332 18 4,430 2 58,590 58,590
Other taxes 8,538 3,967 5,692 7 830 19,034 19,034
Wexpro settlement agreement-
oil income sharing 2,768 2,768 2,768
TOTAL OPERATING EXPENSES 39,144 33,072 117,236 240,949 20,791 516 451,708 31,965 419,743
OPERATING INCOME 28,594 3,260 17,459 8,508 7,032 (513) 64,340 64,340
INTEREST AND OTHER INCOME 581 867 413 (772) 15 1,104 1,104
EARNINGS FROM AFFILIATES (264) (2,077) 1,326 (1,015) (1,015)
DEBT EXPENSE (1,212) (791) (4,522) (790) (1,383) (6) (8,704) (8,704)
INCOME BEFORE INCOME TAXES 27,963 3,336 13,086 4,869 6,990 (519) 55,725 55,725
INCOME TAX EXPENSE (CREDIT) 10,049 (1,796) 1,569 1,850 2,488 (197) 13,963 13,963
NET INCOME (LOSS) $17,914 $5,132 $11,517 $3,019 $4,502 ($322) $41,762 $41,762
</TABLE>
<PAGE>
Exhibit A-3
QUESTAR CORPORATION AND SUBSIDIARIES
OTHER OPERATIONS CONSOLIDATING STATEMENT OF INCOME
YEAR ENDED DECEMBER 31, 1996
(In Thousands)
<TABLE>
<CAPTION>
Total
Questar Interstate Other
Questar InfoComm Land Entrada Operations
<S> <C> <C> <C> <C> <C>
REVENUES $1,580 $454 $2,034
Intercompany transactions $150 26,967 2,606 29,723
TOTAL REVENUES 150 28,547 3,060 31,757
OPERATING EXPENSES
Operating and maintenance (2,626) 22,565 3,024 74 23,037
Depreciation and
amortization 199 3,265 549 91 4,104
Other taxes 345 247 273 865
TOTAL OPERATING EXPENSES (2,082) 26,077 3,846 165 28,006
OPERATING INCOME (LOSS) 2,232 2,470 (786) (165) 3,751
INTEREST AND OTHER INCOME 13,850 755 842 56 15,503
DEBT EXPENSE (8,745) (819) (399) (1) (9,964)
INCOME (LOSS) BEFORE INCOME TAXES 7,337 2,406 (343) (110) 9,290
INCOME TAX EXPENSE (CREDIT) 4,212 931 (132) (473) 4,538
NET INCOME (LOSS) $3,125 $1,475 ($211) $363 $4,752
</TABLE>
<PAGE>
Exhibit A-4
QUESTAR CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS' EQUITY
<TABLE>
<CAPTION>
Note Unrealized gain or Foreign
Common Stock Retained Receivable loss on securities Currency
Shares Amount Earnings from ESOP available for sale Trans. Adj.
(Dollars in Thousands)
<S> <C> <C> <C> <C> <C> <C>
Balances at January 1, 1994 40,169,399 $269,107 $359,637 ($26,802)
Issuance of common stock 270,718 7,813
Purchase of Questar common stock (11,378) (365)
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
Collection of note receivable from ESOP 2,259
Balances at December 31, 1994 40,428,739 276,555 401,577 (24,543)
Issuance of common stock 290,410 7,841
Purchase of Questar common stock (21,335) (620)
1995 net income 83,786
Payment of dividends
Preferred stock (483)
Common stock - $1.16 per share (47,042)
Income tax benefit of dividends
paid to ESOP 446
Collection of note receivable from ESOP 3,305
Unrealized gain on securities available
for sale, net of income taxes $11,853
Balances at December 31, 1995 40,697,814 283,776 438,284 (21,238) 11,853
Issuance of common stock 372,167 10,396
Purchase of Questar common stock (45,094) (1,559)
1996 net income 98,145
Payment of dividends
Preferred stock (391)
Common stock - $1.19 per share (48,589)
Income tax benefit of dividends
paid to ESOP 350
Collection of note receivable from ESOP 5,682
Unrealized loss on securities available
for sale, net of income taxes (4,443)
Foreign currency translation adjustment ($181)
Balances at December 31, 1996 41,024,887 $292,613 $487,799 ($15,556) $7,410 ($181)
</TABLE>
<PAGE>
Exhibit A-5
QUESTAR CORPORATION AND SUBSIDIARIES
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1996
(In Thousands of Dollars)
<TABLE>
<CAPTION>
Mountain Questar Questar Interstate Entrada
Interco. Questar Fuel InfoComm Pipeline Land Industr.
Consolid. Elimin. Corp. Supply Co. Corp. Co. Corp. Consolid.
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CURRENT ASSETS
Cash and short-term investments $5,703 $3,916 $1,875 ($284) $2,550 $98 ($2,452)
Notes receivable from affiliates 0 ($207,389) 191,089 0 0 0 0 16,300
Federal income taxes recoverable 997 (881) 1,109 240 446 (11) 94
Accounts and notes receivable 177,459 (24,075) 8,271 62,062 2,552 7,783 4,970 115,896
Inventories 22,343 0 15,295 3 2,301 0 4,744
Prepaid expenses and deposits 13,555 972 4,511 1,280 1,938 103 4,751
Purchased gas adjustment 24,210 24,210
TOTAL CURRENT ASSETS 244,267 (231,464) 203,367 109,062 3,791 15,018 5,160 139,333
PROPERTY, PLANT AND EQUIPMENT 2,574,980 (179) 2,435 825,121 50,967 562,711 33,855 1,100,070
Less allowances for depreciation 1,097,644 1,295 325,821 26,039 194,396 2,135 547,958
NET PROPERTY, PLANT
AND EQUIPMENT 1,477,336 (179) 1,140 499,300 24,928 368,315 31,720 552,112
INVESTMENT IN AND ADVANCES
TO AFFILIATES 19,192 (753,581) 753,581 0 50 14,347 417 4,378
INVESTMENT IN NEXTEL 38,612 38,612
OTHER ASSETS 36,818 666 22,707 1,162 11,070 0 1,213
$1,816,225 ($985,224) $997,366 $631,069 $29,931 $408,750 $37,297 $697,036
CURRENT LIABILITIES
Short-term loans $77,800 $67,800 $0 $0 $0 $0 $10,000
Notes payable to affiliates 0 ($203,800) 16,300 76,200 8,400 11,800 22,600 68,500
Accounts payable and
accrued expenses 147,105 (24,075) 2,994 62,397 7,014 13,927 3,023 81,825
Federal income taxes payable 0 0 0 0 0 0 0
Other taxes payable 14,706 877 4,161 8 896 (5) 8,769
Current portion of long-term debt 4,705 4,700 0 0 0 5 0
TOTAL CURRENT LIABILITIES 244,316 (227,875) 92,671 142,758 15,422 26,623 25,623 169,094
LONG-TERM DEBT, less current portion 555,509 (3,589) 125,800 175,000 3,589 134,544 165 120,000
DEFERRED CREDITS 35,433 (179) 3,062 10,930 673 4,322 5,195 11,430
DEFERRED INVESTMENT TAX CREDITS 6,810 0 6,774 0 36 0
DEFERRED INCOME TAXES 197,244 3,748 74,537 1,435 58,732 (375) 59,167
CUMULATIVE PREFERRED STOCK 4,828 0 4,828
COMMON SHAREHOLDERS' EQUITY
Common stock 327,281 (34,349) 327,281 22,974 277 6,551 238 4,309
Additional paid-in capital 0 (249,865) 0 41,875 4,724 82,034 5,205 116,027
Retained earnings 487,799 (469,548) 487,799 151,393 3,811 95,908 1,246 217,190
Treasury stock at cost (34,668) 0 (34,668) 0 0 0 0
Note receivable from ESOP (15,556) 0 (15,556)
Unrealized gain (loss)
on securities 7,410 0 7,410
Foreign currency translation
adjustment (181) 181 (181) (181)
TOTAL COMMON SHAREHOLDERS' EQUITY 772,085 (753,581) 772,085 216,242 8,812 184,493 6,689 337,345
$1,816,225 ($985,224) $997,366 $631,069 $29,931 $408,750 $37,297 $697,036
</TABLE>
<PAGE>
Exhibit A-6
<TABLE>
<CAPTION>
ENTRADA INDUSTRIES, INC. AND SUBSIDIARIES
CONSOLIDATING BALANCE SHEET
DECEMBER 31,1996
(In Thousands of Dollars)
Entrada Celsius Universal Questar Questar Questar
Interco. Industries Wexpro Energy Resources Energy Gas Energy
Consol. Elimin. Inc. Co. Co. Co. Trading Management Services
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CURRENT ASSETS
Cash and short-term investments ($2,452) ($33) ($1,359) $259 $158 ($1,643) $113 $53
Notes receivable from affiliates 16,300 0 1,300 15,000 0 0 0 0 0
Federal income taxes recoverable 94 1 (419) 355 40 (410) 347 180
Accounts and notes receivable 115,896 (28,518) 29 11,887 12,211 18,757 97,588 3,929 13
Inventories 4,744 0 1,116 158 441 2,494 535 0
Prepaid expenses and deposits 4,751 0 1,175 2,235 606 85 632 18
TOTAL CURRENT ASSETS 139,333 (28,518) 1,297 27,400 15,218 20,002 98,114 5,556 264
PROPERTY, PLANT AND EQUIPMENT 1,100,070 0 243,246 387,391 363,350 3,890 102,168 25
Less allowances for depreciation 547,958 0 146,480 218,170 144,775 81 38,445 7
NET PROPERTY, PLANT AND EQUIPMENT 552,112 0 0 96,766 169,221 218,575 3,809 63,723 18
INVESTMENT IN AFFILIATES 4,378 (336,190) 336,190 0 0 0 1,338 3,040 0
OTHER ASSETS 1,213 0 0 373 14 0 826 0
$697,036 ($364,708) $337,487 $124,166 $184,812 $238,591 $103,261 $73,145 $282
CURRENT LIABILITIES
Short-term loans $10,000 $0 $0 $0 $10,000 $0 $0 $0
Notes payable to affiliates 68,500 0 0 2,700 9,900 33,800 21,600 500
Accounts payable and accrued expenses 81,825 ($28,518) (1) 5,134 10,629 22,745 67,065 4,651 120
Federal income taxes payable 0 0 0 0 0 0 0 0
Other taxes payable 8,769 (66) 3,666 4,387 971 (574) 410 (25)
Current portion of long-term debt 0 0 0 0 0 0 0 0
TOTAL CURRENT LIABILITIES 169,094 (28,518) (67) 8,800 17,716 43,616 100,291 26,661 595
LONG-TERM DEBT, less current portion 120,000 0 0 25,000 95,000 0 0 0
DEFERRED CREDITS 11,430 209 1,721 1,063 8,326 33 77 1
DEFERRED INCOME TAXES 59,167 0 21,419 24,666 (1,992) (83) 15,150 7
COMMON SHAREHOLDER'S EQUITY
Common stock 4,309 (73,916) 4,309 22,517 45,400 5,999 0 0 0
Additional paid-in capital 116,027 (116,430) 116,027 0 39,774 58,325 1 18,329 1
Retained earnings 217,190 (146,025) 217,190 69,709 31,374 29,317 3,019 12,928 (322)
Foreign currency translation
adjustment (181) 181 (181) (181)
TOTAL COMMON SHAREHOLDER'S EQUITY 337,345 (336,190) 337,345 92,226 116,367 93,641 3,020 31,257 (321)
$697,036 ($364,708) $337,487 $124,166 $184,812 $238,591 $103,261 $73,145 $282
</TABLE>
<PAGE>
<TABLE> <S> <C>
<ARTICLE> OPUR3
<LEGEND>
This schedule contains summarized financial information extracted from the
Questar Corporation Statements of Income and Balance Sheet for the period ended
December 31 1996, and is qualified in its entirety by reference to such audited
financial statements.
</LEGEND>
<MULTIPLIER>1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 1,816,225
<TOTAL-OPERATING-REVENUES> 817,981
<NET-INCOME> 98,145
</TABLE>
