REGULATORY MATTERS As explained in Note 1, Summary of Significant Accounting Policies, Laclede Gas and Alagasco account for regulated operations in accordance with FASB ASC Topic 980, "Regulated Operations." The following regulatory assets and regulatory liabilities, including purchase gas adjustments, were reflected in the balance sheets of the Company and the Utilities as of March 31, 2015 and September 30, 2014. | | | | | | | | | | | | | | | | | | | | | | | | | | Laclede Group | | Laclede Gas | | Alagasco | | March 31, | | September 30, | | March 31, | | September 30, | | March 31, | | September 30, | ($ Millions) | 2015 | | 2014 | | 2015 | | 2014 | | 2015 | | 2014 | Regulatory Assets: | | | | | | | | | | | | Current: | | | | | | | | | | | | Pension and postretirement benefit costs | $ | 21.4 |
| | $ | 21.4 |
| | $ | 15.0 |
| | $ | 15.0 |
| | $ | 6.4 |
| | $ | 6.4 |
| Unamortized purchased gas adjustments | — |
| | 54.0 |
| | — |
| | 54.0 |
| | — |
| | — |
| Other | 6.0 |
| | 5.4 |
| | 2.4 |
| | 3.0 |
| | 3.6 |
| | 2.4 |
| Total Regulatory Assets (current) | 27.4 |
| | 80.8 |
| | 17.4 |
| | 72.0 |
| | 10.0 |
| | 8.8 |
| Non-current: | | | | | | | | | | | | Future income taxes due from customers | 125.6 |
| | 117.0 |
| | 125.6 |
| | 117.0 |
| | — |
| | — |
| Pension and postretirement benefit costs | 420.8 |
| | 431.5 |
| | 357.9 |
| | 365.4 |
| | 62.9 |
| | 66.1 |
| Accretion and depreciation of asset retirement obligations | 19.1 |
| | 18.4 |
| | — |
| | — |
| | 19.1 |
| | 18.4 |
| Purchased gas costs | 18.6 |
| | 4.3 |
| | 18.6 |
| | 4.3 |
| | — |
| | — |
| Energy efficiency | 20.4 |
| | 18.9 |
| | 20.4 |
| | 18.9 |
| | — |
| | — |
| Other | 28.4 |
| | 24.2 |
| | 22.8 |
| | 18.1 |
| | 5.6 |
| | 6.1 |
| Total Regulatory Assets (non-current) | 632.9 |
| | 614.3 |
| | 545.3 |
| | 523.7 |
| | 87.6 |
| | 90.6 |
| Total Regulatory Assets | $ | 660.3 |
| | $ | 695.1 |
| | $ | 562.7 |
| | $ | 595.7 |
| | $ | 97.6 |
| | $ | 99.4 |
| | | | | | | | | | | | | Regulatory Liabilities: | | | | | | | | | | | | Current: |
|
| |
|
| | | | | | | | | RSE adjustment | $ | 9.9 |
| | $ | 19.8 |
| | $ | — |
| | $ | — |
| | $ | 9.9 |
| | $ | 19.8 |
| Unbilled service margin | 15.0 |
| | 5.2 |
| | — |
| | — |
| | 15.0 |
| | 5.2 |
| Refundable negative salvage | 10.8 |
| | 13.4 |
| | — |
| | — |
| | 10.8 |
| | 13.4 |
| Unamortized purchased gas adjustments | 76.7 |
| | 22.4 |
| | 39.1 |
| | — |
| | 37.6 |
| | 22.4 |
| Other | 2.8 |
| | 2.9 |
| | 0.6 |
| | 0.6 |
| | 2.2 |
| | 2.3 |
| Total Regulatory Liabilities (current) | 115.2 |
| | 63.7 |
| | 39.7 |
| | 0.6 |
| | 75.5 |
| | 63.1 |
| Non-current: | | | | | | | | | | | | Postretirement liabilities | 25.1 |
| | 26.2 |
| | — |
| | — |
| | 25.1 |
| | 26.2 |
| Refundable negative salvage | 17.0 |
| | 26.8 |
| | — |
| | — |
| | 17.0 |
| | 26.8 |
| Accrued cost of removal | 59.9 |
| | 60.5 |
| | 59.9 |
| | 60.5 |
| | — |
| | — |
| Other | 12.3 |
| | 12.3 |
| | 11.8 |
| | 11.6 |
| | 0.7 |
| | 0.7 |
| Total Regulatory Liabilities (non-current) | 114.3 |
| | 125.8 |
| | 71.7 |
| | 72.1 |
| | 42.8 |
| | 53.7 |
| Total Regulatory Liabilities | $ | 229.5 |
| | $ | 189.5 |
| | $ | 111.4 |
| | $ | 72.7 |
| | $ | 118.3 |
| | $ | 116.8 |
|
A portion of the Company's and Laclede Gas' regulatory assets are not earning a return, as shown in the schedule below: | | | | | | | | | | | | | | | | | | Laclede Group | | Laclede Gas | | March 31, | | September 30, | | March 31, | | September 30, | ($ Millions) | 2015 | | 2014 | | 2015 | | 2014 | Regulatory Assets Not Earning a Return: | | | | | | | | Future income taxes due from customers | $ | 125.6 |
| | $ | 117.0 |
| | $ | 125.6 |
| | $ | 117.0 |
| Pension and postretirement benefit costs | 232.3 |
| | 240.9 |
| | 232.3 |
| | 240.9 |
| Other | 15.2 |
| | 16.0 |
| | 15.2 |
| | 16.0 |
| Total Regulatory Assets Not Earning a Return | $ | 373.1 |
| | $ | 373.9 |
| | $ | 373.1 |
| | $ | 373.9 |
|
Like all the Company's regulatory assets, these regulatory assets are expected to be recovered from customers in future rates. The Company and Laclede Gas expect these items to be recovered over a period not to exceed 15 years consistent with precedent set by the Missouri Public Service Commission (MoPSC). The portion of regulatory assets related to pensions and other postemployment benefits that pertains to unfunded differences between the projected benefit obligation and plan assets also does not earn a rate of return. Alagasco does not have any regulatory assets that are not earning a return. |