INFORMATION BY OPERATING SEGMENT

3 Months Ended

Dec. 31, 2011

Notes to Financial Statements [Abstract]

INFORMATION BY OPERATING SEGMENT

7. INFORMATION BY OPERATING SEGMENT

The Regulated Gas Distribution segment consists of the regulated operations of Laclede Gas. The Non-Regulated Other segment includes Laclede Gas’ 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. 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.

	Regulated		Non-		Adjustments
	Gas		Regulated		&
(Thousands)	Distribution		Other		Eliminations		Total
Three Months Ended
December 31, 2011
Operating revenues	$	250,902	$	1,081	$	—	$	251,983
Net economic earnings		21,079		615		—		21,694
Total assets		1,753,859		2,176		—		1,756,035
Three Months Ended
December 31, 2010
Operating revenues	$	277,443	$	—	$	—	$	277,443
Net economic earnings		21,434		—		—		21,434
Total assets		1,734,389		807		—		1,735,196

Reconciliation of Net Economic Earnings to Net Income
		Three Months Ended
		December 31,
	(Thousands)	2011		2010
	Total Net Economic Earnings above	$	21,694	$	21,434
	Add: Unrealized gain on energy-related
	derivative contracts, net of tax		3		21
	Net Income	$	21,697	$	21,455