INFORMATION BY OPERATING SEGMENT

12 Months Ended

Sep. 30, 2015

Segment Reporting [Abstract]

INFORMATION BY OPERATING SEGMENT

INFORMATION BY OPERATING SEGMENT

Laclede Group

The Company has two key operating segments: Gas Utility and Gas Marketing. The Gas Utility segment is the aggregation of the regulated operations of the Utilities. 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:

• unallocated corporate items, including certain debt and associated interest costs,

• Laclede Pipeline Company, a subsidiary of Laclede Group which operates a propane pipeline under Federal Energy Regulatory Commission (FERC) jurisdiction, and

• Laclede Group’s subsidiaries that are engaged in compression of natural gas, oil production, real estate development, risk management, and financial investments in other enterprises, among other activities. All subsidiaries are wholly owned.

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.

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 also exclude the after-tax impacts related to acquisition, divestiture, and restructuring activities.

	Gas Utility		Gas Marketing			Other				Eliminations			Consolidated
2015
Revenues from external customers	$	1,891.8	$	82.9		$	1.7			$	—		$	1,976.4
Intersegment revenues	4.0		70.5			2.0				(76.5		)	—
Total Operating Revenues	1,895.8		153.4			3.7				(76.5		)	1,976.4
Operating Expenses
Gas Utility
Natural and propane gas	957.6		—			—				(75.2		)	882.4
Other operation and maintenance	391.6		—			—				(1.0		)	390.6
Depreciation and amortization	129.9		—			—				—			129.9
Taxes, other than income taxes	142.1		—			—				—			142.1
Total Gas Utility Operating Expenses	1,621.2		—			—				(76.2		)	1,545.0
Gas Marketing and Other	—		146.6		(a)	12.6			(b)	(0.3		)	158.9
Total Operating Expenses	1,621.2		146.6			12.6				(76.5		)	1,703.9
Operating Income (Loss)	274.6		6.8			(8.9		)		—			272.5
Net Economic Earnings (Loss)	150.4		4.2			(16.3		)		—			138.3
Capital Expenditures	284.4		—			5.4				—			289.8

	Gas Utility		Gas Marketing			Other				Eliminations			Consolidated
2014
Revenues from external customers	$	1,462.6	$	162.6		$	2.0			$	—		$	1,627.2
Intersegment revenues	5.2		84.0			1.8				(91.0		)	—
Total Operating Revenues	1,467.8		246.6			3.8				(91.0		)	1,627.2
Operating Expenses
Gas Utility
Natural and propane gas	821.8		—			—				(90.1		)	731.7
Other operation and maintenance	288.7		—			—				(0.9		)	287.8
Depreciation and amortization	82.4		—			—				—			82.4
Taxes, other than income taxes	112.0		—			—				—			112.0
Total Gas Utility Operating Expenses	1,304.9		—			—				(91.0		)	1,213.9
Gas Marketing and Other	—		226.4		(a)	20.5			(b)	—			246.9
Total Operating Expenses	1,304.9		226.4			20.5				(91.0		)	1,460.8
Operating Income (Loss)	162.9		20.2			(16.7		)		—			166.4
Net Economic Earnings (Loss)	92.8		10.2			(2.9		)		—			100.1
Capital Expenditures	168.6		—			2.4				—			171.0

	Gas Utility		Gas Marketing			Other				Eliminations			Consolidated
2013
Revenues from external customers	$	847.2	$	165.1		$	4.7			$	—		$	1,017.0
Intersegment revenues	10.6		24.3			1.5				(36.4		)	—
Total Operating Revenues	857.8		189.4			6.2				(36.4		)	1,017.0
Operating Expenses
Gas Utility
Natural and propane gas	469.1		—			—				(35.7		)	433.4
Other operation and maintenance	180.7		—			—				(0.4		)	180.3
Depreciation and amortization	48.3		—			—				—			48.3
Taxes, other than income taxes	60.1		—			—				—			60.1
Total Gas Utility Operating Expenses	758.2		—			—				(36.1		)	722.1
Gas Marketing and Other	—		176.6		(a)	22.1			(b)	(0.3		)	198.4
Total Operating Expenses	758.2		176.6			22.1				(36.4		)	920.5
Operating Income (Loss)	99.6		12.8			(15.9		)		—			96.5
Net Economic Earnings (Loss)	56.6		8.9			(0.5		)		—			65.0
Capital Expenditures	128.5		—			2.3				—			130.8

(a) Depreciation and amortization for Gas Marketing are included in Gas Marketing Expenses on the Consolidated Statements of Income ($0.3 for 2015, $0.4 for 2014, and $0.3 for 2013).

(b) Depreciation, amortization, and accretion for Other are included in the Other Operating Expenses on the Consolidated Statements of Income ($0.6 for 2015, $0.5 for 2014, and $0.6 for 2013).

Total Assets	2015			2014			2013
Gas Utility	$	4,686.2		$	4,520.0		$	2,981.0
Gas Marketing	160.6			156.7			163.9
Other	1,560.2			1,575.7			115.6
Eliminations	(1,116.8		)	(1,178.4		)	(135.1		)
Total Assets	$	5,290.2		$	5,074.0		$	3,125.4

Reconciliation of Consolidated Net Income to Consolidated Net Economic Earnings	2015			2014			2013
Net Income (GAAP)	$	136.9		$	84.6		$	52.8
Unrealized loss (gain) on energy-related derivatives	(1.8		)	(0.9		)	0.5
Lower of cost or market inventory adjustments	0.3			(0.7		)	0.9
Realized (gain) loss on economic hedges prior      to the sale of the physical commodity	1.5			(0.2		)	—
Acquisition, divestiture and restructuring activities	6.1			17.3			10.8
Gain on sale of property	(4.7		)	—			—
Net Economic Earnings (Non-GAAP)	$	138.3		$	100.1		$	65.0