INFORMATION BY OPERATING SEGMENT

3 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

INFORMATION BY OPERATING SEGMENT

INFORMATION BY OPERATING SEGMENT

All of Laclede Group’s subsidiaries are 100% owned. The Gas Utility segment consists of the regulated operations of the Utilities and is the core business segment of Laclede Group. The Gas Utility segment consists of Laclede Gas and Alagasco. Laclede Gas and Alagasco are public utilities engaged in the retail distribution and sale of natural gas serving an area in eastern Missouri through its legacy Laclede Gas assets, an area in western Missouri through its MGE assets and central and north Alabama through its Alagasco assets. 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 Laclede Pipeline Company’s transportation of liquid propane regulated by the Federal Energy Regulatory Commission (FERC) as well as non-regulated activities, including, among other activities, real estate development, the compression of natural gas by Spire, Laclede Group's compressed natural gas fueling solutions business, and financial investments in other enterprises. Accounting policies are described in Note 1, Summary of Significant Accounting Policies. Intersegment transactions include sales of natural gas from Laclede Gas to LER, propane storage services provided by Laclede Gas to Laclede Pipeline Company, sales of natural gas from LER to Laclede Gas, and propane transportation services provided by Laclede Pipeline Company to Laclede Gas.

($ Millions)
Laclede Group	Gas Utility		Gas Marketing		Other			Eliminations			Consolidated
Three Months Ended December 31, 2014
Revenues from external customers	$	581.4	$	37.8	$	0.4		$	—		$	619.6
Intersegment revenues	1.0		24.4		0.5			(25.9		)	—
Total Operating Revenues	582.4		62.2		0.9			(25.9		)	619.6
Operating Expenses
Gas Utility
Natural and propane gas	329.8		—		—			(25.5		)	304.3
Other operation and maintenance	97.4		—		—			(0.3		)	97.1
Depreciation and amortization	32.0		—		—			—			32.0
Taxes, other than income taxes	38.0		—		—			—			38.0
Total Gas Utility Operating Expenses	497.2		—		—			(25.8		)	471.4
Gas Marketing	—		58.6		—			—			58.6
Other	—		—		2.4			(0.1		)	2.3
Total Operating Expenses	497.2		58.6		2.4			(25.9		)	532.3
Operating Income (Loss)	$	85.2	$	3.6	$	(1.5	)	$	—		$	87.3
Net Economic Earnings (Loss)	$	49.8	$	0.4	$	(4.5	)	$	—		$	45.7
Three Months Ended December 31, 2013
Revenues from external customers	$	435.2	$	33.2	$	0.2		$	—		$	468.6
Intersegment revenues	0.1		19.5		0.4			(20.0		)	—
Total Operating Revenues	435.3		52.7		0.6			(20.0		)	468.6
Operating Expenses
Gas Utility
Natural and propane gas	261.6		—		—			(19.8		)	241.8
Other operation and maintenance	62.5		—		—			(0.2		)	62.3
Depreciation and amortization	20.0		—		—			—			20.0
Taxes, other than income taxes	28.6		—		—			—			28.6
Total Gas Utility Operating Expenses	372.7		—		—			(20.0		)	352.7
Gas Marketing	—		51.8		—			—			51.8
Other	—		—		1.2			—			1.2
Total Operating Expenses	372.7		51.8		1.2			(20.0		)	405.7
Operating Income (Loss)	$	62.6	$	0.9	$	(0.6	)	$	—		$	62.9
Net Economic Earnings (Loss)	$	35.8	$	0.8	$	(0.3	)	$	—		$	36.3

The Company's total asset detail is as follows:

($ Millions)	December 31,			September 30,
Laclede Group	2014			2014
Total Assets:
Gas Utility	$	4,735.6		$	4,520.0
Gas Marketing	152.7			156.7
Other	1,576.1			1,575.7
Eliminations	(1,175.9		)	(1,178.4		)
Total Assets	$	5,288.5		$	5,074.0

The following table reconciles the Company's Net Income (GAAP) to Net Economic Income (Non-GAAP):

($ Millions)	Three Months Ended December 31,
Laclede Group	2014			2013
Net income (GAAP)	$	47.1		$	35.6
Unrealized (gain) loss on energy-related derivative contracts	(3.0		)	0.4
Lower of cost or market inventory adjustments	1.2			(0.1		)
Acquisition, divestiture and restructuring activities	0.4			0.4
Net Economic Earnings (Non-GAAP)	$	45.7		$	36.3