INFORMATION BY OPERATING SEGMENT

12 Months Ended

Sep. 30, 2016

Segment Reporting [Abstract]

INFORMATION BY OPERATING SEGMENT

INFORMATION BY OPERATING SEGMENT

Spire

The Company has two reportable segments: Gas Utility and Gas Marketing. The Gas Utility segment is the aggregation of the regulated operations of the Utilities. The Gas Marketing segment includes the results of LER, a subsidiary engaged in the non-regulated marketing of natural gas and related activities, and LER Storage Services, Inc., which utilizes natural gas storage contracts for providing natural gas sales. Other includes:

• unallocated corporate items, including certain debt and associated interest costs,

• Laclede Pipeline Company, a subsidiary of Spire which operates a propane pipeline under Federal Energy Regulatory Commission (FERC) jurisdiction,

• Spire STL Pipeline, a subsidiary of Spire planning construction of a 70-mile FERC-regulated pipeline to deliver natural gas into eastern Missouri, and

• Spire’s subsidiaries that are engaged in compression of natural gas and risk management, among other activities. All subsidiaries are wholly owned.

Accounting policies are described in Note 1, Summary of Significant Accounting Policies. Intersegment transactions include sales of natural gas from LER to Laclede Gas, sales of natural gas from Laclede Gas to LER, risk management services provided by Laclede Insurance Risk Services, Inc. to Laclede Gas, propane transportation services provided by Laclede Pipeline Company to Laclede Gas, and propane storage services provided by Laclede Gas to Laclede Pipeline Company.

Management evaluates the performance of the operating segments based on the computation of net economic earnings. Net economic earnings exclude from reported net income the after-tax impacts of net unrealized gains and losses and other timing differences associated with energy-related transactions. Net economic earnings also exclude the after-tax impacts related to acquisition, divestiture, and restructuring activities.

	Gas Utility		Gas Marketing			Other				Eliminations			Consolidated
2016
Revenues from external customers	$	1,457.2	$	78.5		$	1.6			$	—		$	1,537.3
Intersegment revenues	2.2		—			3.2				(5.4		)	—
Total Operating Revenues	1,459.4		78.5			4.8				(5.4		)	1,537.3
Operating Expenses
Gas Utility
Natural and propane gas	539.7		—			—				(47.5		)	492.2
Other operation and maintenance	379.3		—			—				(1.8		)	377.5
Depreciation and amortization	136.9		—			—				—			136.9
Taxes, other than income taxes	125.2		—			—				—			125.2
Total Gas Utility Operating Expenses	1,181.1		—			—				(49.3		)	1,131.8
Gas Marketing and Other	—		66.7		(a)	12.6			(b)	43.9			123.2
Total Operating Expenses	1,181.1		66.7			12.6				(5.4		)	1,255.0
Operating Income (Loss)	278.3		11.8			(7.8		)		—			282.3
Net Economic Earnings (Loss)	160.3		6.4			(17.6		)		—			149.1
Capital Expenditures	291.7		—			1.6				—			293.3

	Gas Utility		Gas Marketing			Other				Eliminations			Consolidated
2015
Revenues from external customers	$	1,891.8	$	82.9		$	1.7			$	—		$	1,976.4
Intersegment revenues	4.0		70.5			2.0				(76.5		)	—
Total Operating Revenues	1,895.8		153.4			3.7				(76.5		)	1,976.4
Operating Expenses
Gas Utility
Natural and propane gas	957.6		—			—				(75.2		)	882.4
Other operation and maintenance	391.6		—			—				(1.0		)	390.6
Depreciation and amortization	129.9		—			—				—			129.9
Taxes, other than income taxes	142.1		—			—				—			142.1
Total Gas Utility Operating Expenses	1,621.2		—			—				(76.2		)	1,545.0
Gas Marketing and Other	—		146.6		(a)	12.6			(b)	(0.3		)	158.9
Total Operating Expenses	1,621.2		146.6			12.6				(76.5		)	1,703.9
Operating Income (Loss)	274.6		6.8			(8.9		)		—			272.5
Net Economic Earnings (Loss)	150.4		4.2			(16.3		)		—			138.3
Capital Expenditures	284.4		—			5.4				—			289.8

	Gas Utility		Gas Marketing			Other				Eliminations			Consolidated
2014
Revenues from external customers	$	1,462.6	$	162.6		$	2.0			$	—		$	1,627.2
Intersegment revenues	5.2		84.0			1.8				(91.0		)	—
Total Operating Revenues	1,467.8		246.6			3.8				(91.0		)	1,627.2
Operating Expenses
Gas Utility
Natural and propane gas	821.8		—			—				(90.1		)	731.7
Other operation and maintenance	288.7		—			—				(0.9		)	287.8
Depreciation and amortization	82.4		—			—				—			82.4
Taxes, other than income taxes	112.0		—			—				—			112.0
Total Gas Utility Operating Expenses	1,304.9		—			—				(91.0		)	1,213.9
Gas Marketing and Other	—		226.4		(a)	20.5			(b)	—			246.9
Total Operating Expenses	1,304.9		226.4			20.5				(91.0		)	1,460.8
Operating Income (Loss)	162.9		20.2			(16.7		)		—			166.4
Net Economic Earnings (Loss)	92.8		10.2			(2.9		)		—			100.1
Capital Expenditures	168.6		—			2.4				—			171.0

(a) Depreciation and amortization for Gas Marketing are included in Gas Marketing Expenses on the Consolidated Statements of Income ($0.1 for 2016, $0.3 for 2015, and $0.4 for 2014).

(b) Depreciation, amortization, and accretion for Other are included in the Other Operating Expenses on the Consolidated Statements of Income ($0.5 for 2016, $0.6 for 2015, and $0.5 for 2014).

Total Assets at End of Year	2016			2015			2014
Gas Utility	$	5,191.9		$	4,686.2		$	4,520.0
Gas Marketing	205.0			160.6			156.7
Other	1,842.4			1,560.2			1,575.7
Eliminations	(1,161.9		)	(1,116.8		)	(1,178.4		)
Total Assets	$	6,077.4		$	5,290.2		$	5,074.0

Reconciliation of Consolidated Net Income to Consolidated Net Economic Earnings	2016			2015			2014
Net Income (GAAP)	$	144.2		$	136.9		$	84.6
Unrealized gain on energy-related derivatives	(0.1		)	(2.8		)	(1.6		)
Lower of cost or market inventory adjustments	0.2			0.4			(1.1		)
Realized (gain) loss on economic hedges prior      to the sale of the physical commodity	(1.6		)	2.4			(0.4		)
Acquisition, divestiture and restructuring activities	9.2			9.8			29.5
Gain on sale of property	—			(7.6		)	—
Income tax effect of adjustments	(2.8		)	(0.8		)	(10.9		)
Net Economic Earnings	$	149.1		$	138.3		$	100.1