XML 50 R23.htm IDEA: XBRL DOCUMENT v2.4.1.9
FAIR VALUE MEASUREMENTS (Tables)
6 Months Ended
Mar. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurements, Measured on Recurring Basis
The following tables for Laclede Group, Laclede Gas, and Alagasco categorize the assets and liabilities in the balance sheets that are accounted for at fair value on a recurring basis in periods subsequent to initial recognition.
The mutual funds included in Level 1 are valued based on exchange-quoted market prices of individual securities. The mutual funds included in Level 2 are valued based on the closing net asset value per unit.
Derivative instruments included in Level 1 are valued using quoted market prices on the New York Mercantile Exchange (NYMEX). Derivative instruments classified in Level 2 include physical commodity derivatives that are valued using Over-the-Counter Bulletin Board (OTCBB), broker, or dealer quotation services whose prices are derived principally from, or are corroborated by, observable market inputs. Also included in Level 2 are certain derivative instruments that have values that are similar to, and correlate with, quoted prices for exchange-traded instruments in active markets. The Alagasco interest rate swaps fall into this latter Level 2 classification. Derivative instruments included in Level 3 are valued using generally unobservable inputs that are based upon the best information available and reflect management’s assumptions about how market participants would price the asset or liability. The Level 3 balances as of March 31, 2015 and September 30, 2014 consisted of gas commodity contracts. The Company’s and the Utilities' policy is to recognize transfers between the levels of the fair value hierarchy, if any, as of the beginning of the interim reporting period in which circumstances change or events occur to cause the transfer.
The mutual funds are included in the "Other investments" line of the balance sheets. Derivative assets and liabilities, including receivables and payables associated with cash margin requirements, are presented net in the balance sheets when a legally enforceable netting agreement exists between the Company or Laclede Gas and the counterparty to a derivative contract.
Laclede Group
($ Millions)
Quoted
Prices in
Active
Markets
(Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Effects of Netting and Cash Margin Receivables
/Payables
 
Total
As of March 31, 2015
 
 
 
 
 
 
 
 
 
ASSETS
 
 
 
 
 
 
 
 
 
Gas Utility
 
 
 
 
 
 
 
 
 
U. S. stock/bond mutual funds
$
16.4

 
$
3.9

 
$

 
$

 
$
20.3

NYMEX natural gas contracts
0.6

 

 

 
(0.6
)
 

Subtotal
17.0

 
3.9

 

 
(0.6
)
 
20.3

Gas Marketing
 
 
 
 
 
 
 
 
 
NYMEX natural gas contracts
3.4

 
1.7

 

 
(4.3
)
 
0.8

Natural gas commodity contracts

 
2.7

 
0.5

 
(0.5
)
 
2.7

Total
$
20.4

 
$
8.3

 
$
0.5

 
$
(5.4
)
 
$
23.8

LIABILITIES
 
 
 
 
 
 
 
 
 
Gas Utility
 
 
 
 
 
 
 
 
 
NYMEX/ICE natural gas contracts
$
14.1

 
$

 
$

 
$
(14.1
)
 
$

OTCBB natural gas contracts

 
14.5

 

 

 
14.5

NYMEX gasoline and heating oil contracts
1.0

 

 

 
(1.0
)
 

Interest rate swaps

 
2.9

 

 

 
2.9

Subtotal
15.1

 
17.4

 

 
(15.1
)
 
17.4

Gas Marketing
 
 
 
 
 
 
 
 
 
NYMEX natural gas contracts
1.9

 
3.5

 

 
(5.4
)
 

Natural gas commodity contracts

 
0.8

 

 
(0.5
)
 
0.3

Total
$
17.0

 
$
21.7

 
$

 
$
(21.0
)
 
$
17.7

 
 
 
 
 
 
 
 
 
 
As of September 30, 2014
 
 
 
 
 
 
 
 
 
ASSETS
 
 
 
 
 
 
 
 
 
Gas Utility
 
 
 
 
 
 
 
 
 
U. S. stock/bond mutual funds
$
15.7

 
$
3.9

 
$

 
$

 
$
19.6

NYMEX natural gas contracts
2.4

 

 

 
(2.4
)
 

OTCBB natural gas contracts

 
0.1

 

 
(0.1
)
 

Subtotal
18.1

 
4.0

 

 
(2.5
)
 
19.6

Gas Marketing
 
 
 
 
 
 
 
 
 
NYMEX natural gas contracts
1.0

 
1.2

 

 
(1.8
)
 
0.4

Natural gas commodity contracts

 
2.7

 
0.2

 
(0.2
)
 
2.7

Total
$
19.1

 
$
7.9

 
$
0.2

 
$
(4.5
)
 
$
22.7

LIABILITIES
 
 
 
 
 
 
 
 
 
Gas Utility
 
 
 
 
 
 
 
 
 
NYMEX/ICE natural gas contracts
$
5.2

 
$

 
$

 
$
(5.2
)
 
$

OTCBB natural gas contracts

 
4.1

 

 
(0.1
)
 
4.0

Gasoline and heating oil contracts
0.2

 

 

 
(0.2
)
 

Subtotal
5.4

 
4.1

 

 
(5.5
)
 
4.0

Gas Marketing
 
 
 
 
 
 
 
 
 
NYMEX natural gas contracts
1.1

 
0.7

 

 
(1.8
)
 

Natural gas commodity contracts

 
0.7

 

 
(0.2
)
 
0.5

Total
$
6.5

 
$
5.5

 
$

 
$
(7.5
)
 
$
4.5

Laclede Gas  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurements, Measured on Recurring Basis
($ Millions)
Quoted
Prices in
Active
Markets
(Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Effects of Netting and Cash Margin Receivables
/Payables
 
Total
As of March 31, 2015
 
 
 
 
 
 
 
 
 
ASSETS
 
 
 
 
 
 
 
 
 
U. S. stock/bond mutual funds
$
16.4

 
$
3.9

 
$

 
$

 
$
20.3

NYMEX natural gas contracts
0.6

 

 

 
(0.6
)
 

Total
17.0

 
3.9

 

 
(0.6
)
 
20.3

LIABILITIES
 
 
 
 
 
 
 
 
 
NYMEX natural gas contracts
14.1

 

 

 
(14.1
)
 

OTCBB natural gas contracts

 
14.5

 

 

 
14.5

Gasoline and heating oil contracts
1.0

 

 

 
(1.0
)
 

Total
$
15.1

 
$
14.5

 
$

 
$
(15.1
)
 
$
14.5

 
 
 
 
 
 
 
 
 
 
As of September 30, 2014
 
 
 
 
 
 
 
 
 
ASSETS
 
 
 
 
 
 
 
 
 
U. S. stock/bond mutual funds
$
15.7

 
$
3.9

 
$

 
$

 
$
19.6

NYMEX natural gas contracts
2.4

 

 

 
(2.4
)
 

OTCBB natural gas contracts

 
0.1

 

 
(0.1
)
 

Total
18.1

 
4.0

 

 
(2.5
)
 
19.6

LIABILITIES
 
 
 
 
 
 
 
 
 
NYMEX/ICE natural gas contracts
5.2

 

 

 
(5.2
)
 

OTCBB natural gas contracts

 
4.1

 

 
(0.1
)
 
4.0

NYMEX gasoline and heating oil contracts
0.2

 

 

 
(0.2
)
 

Total
$
5.4

 
$
4.1

 
$

 
$
(5.5
)
 
$
4.0