As explained in Note 1, Summary of Significant Accounting Policies, the Utilities account for regulated operations in accordance with FASB ASC Topic 980, Regulated Operations. The following regulatory assets and regulatory liabilities were reflected in the balance sheets of the Company, Spire Missouri and Spire Alabama as of December 31, 2019, September 30, 2019, and December 31, 2018.

	December 31,		September 30,		December 31,
Spire	2019		2019		2018
Regulatory Assets:
Current:
Pension and postretirement benefit costs	$	30.1	$	30.1	$	30.2
Unamortized purchased gas adjustments		9.1		18.2		3.0
Other		28.7		30.3		30.2
Total Current Regulatory Assets		67.9		78.6		63.4
Noncurrent:
Pension and postretirement benefit costs		405.5		416.6		350.0
Cost of removal		152.1		150.9		134.0
Future income taxes due from customers		111.6		108.8		99.1
Energy efficiency		37.2		35.0		33.6
Unamortized purchased gas adjustments		—		9.1		—
Other		44.1		47.2		38.4
Total Noncurrent Regulatory Assets		750.5		767.6		655.1
Total Regulatory Assets	$	818.4	$	846.2	$	718.5
Regulatory Liabilities:
Current:
Pension and postretirement benefit costs	$	5.8	$	5.8	$	2.2
Unamortized purchased gas adjustments		19.9		26.2		6.1
Other		24.3		28.8		28.7
Total Current Regulatory Liabilities		50.0		60.8		37.0
Noncurrent:
Deferred taxes due to customers		177.0		179.8		169.8
Pension and postretirement benefit costs		147.5		142.3		27.1
Accrued cost of removal		38.7		41.6		59.4
Unamortized purchased gas adjustments		24.3		—		16.7
Other		30.3		35.3		90.4
Total Noncurrent Regulatory Liabilities		417.8		399.0		363.4
Total Regulatory Liabilities	$	467.8	$	459.8	$	400.4

	December 31,		September 30,		December 31,
Spire Missouri	2019		2019		2018
Regulatory Assets:
Current:
Pension and postretirement benefit costs	$	21.9	$	21.9	$	21.9
Other		7.5		7.5		7.8
Total Current Regulatory Assets		29.4		29.4		29.7
Noncurrent:
Future income taxes due from customers		104.9		102.9		96.7
Pension and postretirement benefit costs		324.7		333.3		279.8
Energy efficiency		37.2		35.0		33.6
Unamortized purchased gas adjustments		—		9.1		—
Other		24.3		27.2		17.5
Total Noncurrent Regulatory Assets		491.1		507.5		427.6
Total Regulatory Assets	$	520.5	$	536.9	$	457.3
Regulatory Liabilities:
Current:
Pension and postretirement benefit costs	$	3.6	$	3.6	$	—
Unamortized purchased gas adjustments		19.0		25.4		5.8
Other		19.8		23.3		14.8
Total Current Regulatory Liabilities		42.4		52.3		20.6
Noncurrent:
Deferred taxes due to customers		159.7		162.5		152.4
Pension and postretirement benefit costs		124.9		119.1		—
Accrued cost of removal		12.1		15.7		35.2
Unamortized purchased gas adjustments		24.3		—		16.7
Other		24.5		29.2		75.4
Total Noncurrent Regulatory Liabilities		345.5		326.5		279.7
Total Regulatory Liabilities	$	387.9	$	378.8	$	300.3

	December 31,		September 30,		December 31,
Spire Alabama	2019		2019		2018
Regulatory Assets:
Current:
Pension and postretirement benefit costs	$	7.2	$	7.3	$	7.3
Unamortized purchased gas adjustments		8.8		17.7		1.6
Other		8.4		8.9		9.9
Total Current Regulatory Assets		24.4		33.9		18.8
Noncurrent:
Pension and postretirement benefit costs		74.9		77.2		63.0
Cost of removal		152.1		150.9		134.0
Other		3.2		3.1		3.2
Total Noncurrent Regulatory Assets		230.2		231.2		200.2
Total Regulatory Assets	$	254.6	$	265.1	$	219.0
Regulatory Liabilities:
Current:
Pension and postretirement benefit costs	$	2.2	$	2.2	$	2.3
Other		0.2		1.2		7.9
Total Current Regulatory Liabilities		2.4		3.4		10.2
Noncurrent:
Pension and postretirement benefit costs		18.4		19.1		27.1
Other		3.9		3.9		3.5
Total Noncurrent Regulatory Liabilities		22.3		23.0		30.6
Total Regulatory Liabilities	$	24.7	$	26.4	$	40.8

A portion of the Company’s and Spire Missouri’s regulatory assets are not earning a return, as shown in the table below:

	December 31,		September 30,		December 31,
	2019		2019		2018
Spire
Pension and postretirement benefit costs	$	208.0	$	211.1	$	141.2
Future income taxes due from customers		111.6		108.8		99.1
Other		14.1		14.3		14.3
Total Regulatory Assets Not Earning a Return	$	333.7	$	334.2	$	254.6

Spire Missouri
Pension and postretirement benefit costs	$	208.0	$	211.1	$	141.2
Future income taxes due from customers		104.9		102.9		96.7
Other		14.1		14.3		14.3
Total Regulatory Assets Not Earning a Return	$	327.0	$	328.3	$	252.2

Like all the Company’s regulatory assets, these regulatory assets are expected to be recovered from customers in future rates. The recovery period for the future income taxes due from customers and pension and other postretirement benefit costs could be 20 years or longer, based on current Internal Revenue Service guidelines and average remaining service life of active participants, respectively. The other items not earning a return are expected to be recovered over a period not to exceed 15 years, consistent with precedent set by the MoPSC. Spire Alabama does not have any regulatory assets that are not earning a return.

On March 7, 2018, the MoPSC issued its order in two general rate cases (docketed as GR-2017-0215 and GR-2017-0216), approving new tariffs that became effective on April 19, 2018. Certain provisions of the order allow less future recovery of certain deferred or capitalized costs than estimated based upon previous rate proceedings, and management determined that the related regulatory assets should be written down or off in connection with the preparation of the financial statements for the second quarter of 2018. The charges totaled $38.4 for the year ended September 30, 2018 and are included primarily in operation and maintenance expense on the statements of income and in other cash flows from operating activities on the statements of cash flows. The after-tax reduction to net income and earnings per share was $23.6 and $0.49, respectively. On April 25, 2018, Spire Missouri filed an appeal of the MoPSC’s order related to the disallowance of certain pension costs incurred prior to 1997 ($28.8), real estate sold in 2014 ($1.8), and rate case expenses ($0.9) to Missouri’s Southern District Court of Appeals. On March 15, 2019, the appeal was denied by the Southern District Court of Appeals, and Spire Missouri requested review by the Missouri Supreme Court, which agreed to take the case. Oral arguments were made before the Missouri Supreme Court on January 29, 2020. The charges related to the long-standing pension and real estate assets, totaling $30.6, were excluded in the determination of 2018 net economic earnings.

Spire Missouri filed Infrastructure System Replacement Surcharge (ISRS) applications which were approved by the MoPSC and the costs associated therewith were included in new tariffs that went into effect from our last general rate cases on April 19, 2018. Since the Company’s last rate cases, ISRS filings became effective on October 8, 2018, May 25, 2019 and November 16, 2019, bringing total authorized future annualized ISRS revenues for Spire Missouri to $29.2. On February 3, 2020, Spire Missouri filed new ISRS applications with the MoPSC for a total of $16.3, including $5.3 of ISRS revenues previously disallowed.

As reported last year, on November 19, 2019, the Missouri Western District Court of Appeals issued rulings (“ISRS rulings”) that determined certain capital investments in 2016 through 2018 were not eligible for recovery under the ISRS. The ISRS rulings upheld appeals by the Office of Public Counsel (OPC) that contested recovery of portions of Spire Missouri’s ISRS and overturned the three prior MoPSC decisions.

Spire Missouri strongly disagrees with the ISRS rulings and plans to vigorously defend its position. On January 2, 2020, Spire Missouri submitted Applications for Transfer to the Missouri Supreme Court. The MoPSC also submitted Applications for Transfer to the Missouri Supreme Court that advanced similar positions as Spire Missouri. The submission of the Applications will stay the effectiveness of the ISRS rulings pending the outcome of the Missouri Supreme Court’s decision whether to accept these rulings for review. If the Missouri Supreme Court decides not to review the lower court rulings, the cases would be remanded to the MoPSC, who would then define its process to review the facts and evidence supporting its earlier approval and determine the appropriate process to determine the appropriate refund, if any, that may be required.

Spire Missouri has recorded an estimate of the maximum impact of the ISRS rulings based on its interpretation of the rulings and evidence available. As of September 30, 2019, Spire Missouri recorded an estimated $12.2 regulatory liability for this matter by reducing revenue for fiscal year 2019. There were two components of this provision. The first related to a $4.2 refund ordered by the ISRS rulings for amounts collected prior to the last rate case, after which recoveries of related authorized revenues became part of base rates that went into effect in April 2018. The second component related to an estimate of $8.0 for revenues associated with the June 2018 ISRS filing that was approved by the MoPSC effective October 8, 2018. In the first quarter of fiscal 2020, an additional provision of $2.1 was recorded to the regulatory liability for ISRS revenues related to customer billings recorded during the quarter under this 2018 filing, along with a $0.5 provision for interest due on the entirety of the ISRS revenues in dispute if refunded. The after-tax impact of the first quarter provisions reduced net income by $2.0, which is excluded for the net economic earnings financial measure. In future periods, Spire Missouri will evaluate the need for an adjustment to the provisions based upon new information and further developments.

Similar appeals by both the Company and OPC are with the Missouri Western District Court of Appeals for the ISRS filings in both January 2019 and July 2019.

In January 2020, legislation was introduced in both the Missouri House and Senate to clarify language in the statute governing ISRS mechanism. Specifically, the bills seek to ensure we can continue to upgrade our infrastructure, enhance its safety and reliability, and secure timely recovery of costs incurred.

As part of their annual updates for RSE, on November 25, 2019, Spire Alabama and Spire Gulf filed an increase for rate year 2020 of $5.9 and $1.6, respectively, which became effective December 1, 2019. In addition, Spire Alabama was granted authority to begin an off-system sales and capacity release sharing program similar to the program currently in place at Spire Missouri.

On November 21, 2019, the Federal Energy Regulatory Commission (FERC) issued an Order on Rehearing of its August 3, 2018 order issuing a certificate of public convenience and necessity to Spire STL Pipeline LLC. In the Order on Rehearing, the FERC dismissed or denied the outstanding requests for rehearing filed by several parties, dismissed the request for stay filed by one party and noted the withdrawal of the request for rehearing by another party. On January 21, 2020, two of the rehearing parties timely filed petitions for review of the FERC’s orders with the Court of Appeals for the District of Columbia Circuit.