INFORMATION BY OPERATING SEGMENT

6 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

INFORMATION BY OPERATING SEGMENT

8. INFORMATION BY OPERATING SEGMENT

The Gas Utility segment consists of the regulated operations of the Utility. The Utility is a public utility engaged in the retail distribution and sale of natural gas serving an area in eastern Missouri, including the City of St. Louis, through Laclede Gas and an area in western Missouri, including Kansas City, through MGE. The Other segment includes the Utility's non-regulated business activities, which are comprised of its non-regulated propane sales transactions and its propane storage and related services. Accounting policies are described in Note 1, Summary of Significant Accounting Policies. There are no material intersegment revenues.

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 will also exclude, if applicable, the after-tax impact of costs related to acquisition, divestiture, and restructuring activities.

(Thousands)	Gas Utility		Other		Adjustments & Eliminations		Total
Three Months Ended March 31, 2014
Operating revenues	$	638,718	$	27	$	—	$	638,745
Net Economic Earnings	44,727		197		—		44,924
Total assets	3,036,185		—		—		3,036,185
Six Months Ended March 31, 2014
Operating revenues	$	1,073,946	$	51	$	—	$	1,073,997
Net Economic Earnings	80,504		46		—		80,550
Total assets	3,036,185		—		—		3,036,185
Three Months Ended March 31, 2013
Operating revenues	$	363,911	$	234	$	—	$	364,145
Net Economic Earnings	30,197		207		—		30,404
Total assets	1,821,372		747		—		1,822,119
Six Months Ended March 31, 2013
Operating revenues	$	614,702	$	1,377	$	—	$	616,079
Net Economic Earnings	55,538		667		—		56,205
Total assets	1,821,372		747		—		1,822,119

Reconciliation of Net Economic Earnings to Net Income
	Three Months Ended				Six Months Ended
	March 31,				March 31,
(Thousands)	2014		2013		2014			2013
Net Income (GAAP)	$	44,232	$	29,775	$	79,525		$	55,517
Add: Unrealized gain (loss) on energy-relate derivative contracts, net of tax	51		32		(3		)	91
Add: Acquisition, divestiture, and restructuring costs, net of tax	641		597		1,028			597
Net Economic Earnings (Non-GAAP)	$	44,924	$	30,404	$	80,550		$	56,205