Questar Other Current Assets Calculation
Technically, the other current assets line may include any asset that will be used up within the next 12 months. However, other current assets never include assets that are listed elsewhere in the current assets section of the balance sheet. For this reason, other current assets are almost never:
Cash
Trade Receivables
Inventory
The assets grouped under other current assets are most commonly:
Prepaid Expenses
Tax Assets
Non-Trade Receivables
Other (too numerous to list)
Some companies can and do choose to report each of these items separately.
Other current assets may be made up largely of Prepaid Expenses - unless these are listed on a separate line of the balance sheet.
Prepaid expenses are exactly what they sound like. If a company pays a $30 million insurance premium on the last day of June that will provide coverage for the entire month of July, the company will record a $30 million prepaid expense to account for the insurance expense it will show in July that it already paid for in June.
Tax assets can be quite complex. It is not common for companies to have both tax assets and tax liabilities. It is important that investors take note of both items when considering future taxes.
Non-Trade receivables are rarely a large item. They include money owed to the company by non-customers. Non-trade receivables can be caused by related party transactions, the sale of a business unit, etc. The notes to the company's financial statements will often provide much more detail on this item if it is truly important.
There are a variety of other current assets like non-trade receivables which are simply too numerous to list. If a company is following correct reporting procedures, it should not lump items that are different from one another and yet individually important to the company together under the line Other Current Assets.
At most companies, other current assets are a small and unimportant part of the total balance sheet.
Questar (Questar) Business Description
Traded in Other Exchanges
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Address
Questar Corporation is an integrated natural gas holding company with three lines of business operated through wholly owned subsidiaries: Wexpro Company, Questar Pipeline and Questar Gas. Questar Gas distributes natural gas as a public utility in Utah, southwestern Wyoming and a small portion of southeastern Idaho. Questar Gas has the necessary regulatory approvals to serve the areas and has long-term franchises granted by communities and counties within its service area. Questar Gas currently does not face direct competition from other distributors of natural gas for residential and commercial customers in its service territory. Wexpro develops, produces and delivers natural gas from cost-of-service reserves for gas utility affiliate Questar Gas under the terms of the Wexpro Agreement and the Wexpro II Agreement (Wexpro agreements), comprehensive agreements with the states of Utah and Wyoming. Wexpro delivers natural gas production to Questar Gas at cost of service. Wexpro's properties are located in the Rocky Mountain region, in the Vermillion, Pinedale, Moxa Arch, and Uinta Basin producing fields. Wexpro faces competition in its business, including the marketing of oil and NGL, and obtaining goods, services and labor. Questar Pipeline provides natural gas transportation and underground-storage services in Utah, Wyoming and Colorado. Questar Pipeline and its subsidiaries operate 2,667 miles of interstate pipeline, including 10 miles owned by a third party. Questar Pipeline's core transportation system is strategically located near large reserves of natural gas in six Rocky Mountain producing areas. Questar Pipeline transports natural gas from these producing areas to other pipeline systems, Questar Gas's distribution system and other utility systems. In addition to this core system, Questar Pipeline, through wholly-owned subsidiaries, owns and operates the Overthrust Pipeline in southwestern Wyoming and the eastern segment of Southern Trails Pipeline, a 487-mile line that extends from the Blanco hub in New Mexico's San Juan Basin to just inside the California state line near the Arizona border. An additional 96miles of Southern Trails Pipeline in California is not in service.
Executives
| Harris H Simmons |
director |
ZIONS BANCORPORATION, ONE MAIN STREET, SUITE 1134, SALT LAKE CITY UT 84111 |
| Laurence M Downes |
director |
C/O NEW JERSEY RESOURCES CORPORATION, 1415 WYCKOFF ROAD, WALL NJ 07719 |
| Ron W Jibson |
officer: President & CEO |
180 EAST 100 SOUTH, P.O. BOX 45360, SALT LAKE CITY UT 84145-0433 |
| Rebecca Ranich |
director |
333 S STATE STREET, SALT LAKE CITY UT 84145-0433 |
| Micheal G. Dunn |
officer: EVP & President, QPC |
333 SOUTH STATE STREET, 333 SOUTH STATE STREET UT 84145-0433 |
| Christopher A Helms |
director |
MPLX LP, 200 E. HARDIN STREET, FINDLAY OH 45840 |
| Teresa Beck |
director |
1681 SOUTH MOHAWK WAY, SALT LAKE CITY UT 84108 |
| J T Mcmanus |
director |
605 RICHARD ARRINGTON JR BLVD N, BIRMINGHAM AL 35203-2707 |
| Bruce A Williamson |
director |
C/O SOUTHCROSS ENERGY PARTNERS, L.P., 1717 MAIN STREET, SUITE 5200, DALLAS TX 75201 |
| R D Cash |
director |
5201 18TH PLACE, LUBBOCK TX 79416 |
| Keith O Rattie |
director |
180 EAST 100 SOUTH, SALT LAKE CITY UT 84111 |
| Gary G Michael |
director |
P. O. BOX 1718, BOISE ID 83701 |
| L Richard Flury |
director |
2000 W SAM HOUSTON PKWY S, SUITE 2000, HOUSTON TX 77042 |
| Mckee Robert E Iii |
director |
14927 SANDALFOOT, HOUSTON TX 77095 |
| Charles B Stanley |
director, officer: EVP / COO |
6500 NORTH MINERAL DRIVE, COEUR D'ALENE ID 83815-9408 |
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