INCOME TAXES (Tables)

12 Months Ended

Sep. 30, 2015

Income Tax Contingency [Line Items]

Net Provision For Income Tax

The Company's provision for income taxes charged during the fiscal years ended September 30, 2015, 2014, and 2013 are as follows:

	2015			2014			2013
Federal
Current	$	(3.3	)	$	0.3		$	(4.2	)
Deferred	58.8			30.6			19.9
Investment tax credits	(0.2		)	(0.2		)	(0.2		)
State and local
Current	—			0.6			(0.3		)
Deferred	6.9			1.0			2.4
Total income tax expense	$	62.2		$	32.3		$	17.6

Effective income tax rate variation from stated tax rate

The Company's effective income tax rate varied from the federal statutory income tax rate for each year due to the following:

	2015		2014		2013
Federal income tax statutory rate	35.0	%	35.0	%	35.0	%
State and local income taxes, net of federal income tax benefits	3.0		1.8		3.5
Certain expenses capitalized on books and deducted on tax return	(3.7	)	(4.9	)	(9.7	)
Taxes related to prior years	(0.6	)	(0.7	)	(1.6	)
Other items – net *	(2.5	)	(3.6	)	(2.2	)
Effective income tax rate	31.2	%	27.6	%	25.0	%

* Other consists primarily of property adjustments.

Significant Items in Net Deferred Tax Liability

The Company's significant items comprising the net deferred tax liability recorded in the Consolidated Balance Sheets as of September 30 are as follows:

	2015		2014
Deferred tax assets:
Reserves not currently deductible	$	14.8	$	16.0
Pension and other postretirement benefits	62.5		67.3
Operating losses	47.3		8.0
Unamortized investment tax credits	1.5		1.6
Other	—		28.9
Total deferred tax assets	$	126.1	$	121.8
Deferred tax liabilities:
Relating to property	472.1		366.9
Regulatory pension and other postretirement benefits	110.6		108.5
Deferred gas costs	8.1		20.4
Other	11.6		19.7
Total deferred tax liabilities	$	602.4	$	515.5
Net deferred tax liability	476.3		393.7
Net deferred tax asset (liability) – current	5.8		(9.9		)
Net deferred tax liability – noncurrent	$	482.1	$	383.8

Unrecognized Tax Benefit Reconciliation

The following table presents a reconciliation of the beginning and ending balances of the Company's unrecognized tax benefits:

	2015			2014			2013
Unrecognized tax benefits, beginning of year	$	4.6		$	2.4		$	5.8
Increases related to prior year tax positions	—			—			0.1
Increases related to tax positions taken in current year	2.9			2.6			1.5
Reductions due to lapse of applicable statute of limitations	(0.4		)	(0.4		)	(5.0		)
Unrecognized tax benefits, end of year	$	7.1		$	4.6		$	2.4

Laclede Gas

Income Tax Contingency [Line Items]

Net Provision For Income Tax

Laclede Gas' provision for income taxes charged during the fiscal years ended September 30, 2015, 2014, and 2013 are as follows:

	2015			2014			2013
Federal
Current	$	(2.1	)	$	(0.1	)	$	(6.6	)
Deferred	40.9			34.3			20.1
Investment tax credits	(0.2		)	(0.2		)	(0.2		)
State and local
Current	(0.1		)	—			(1.0		)
Deferred	4.7			1.5			2.3
Total income tax expense	$	43.2		$	35.5		$	14.6

Effective income tax rate variation from stated tax rate

Laclede Gas' effective income tax rate varied from the federal statutory income tax rate for each year due to the following:

	2015		2014		2013
Federal income tax statutory rate	35.0	%	35.0	%	35.0	%
State and local income taxes, net of federal income tax benefits	2.8		1.8		3.3
Certain expenses capitalized on books and deducted on tax return	(4.9	)	(4.5	)	(10.8	)
Taxes related to prior years	(0.8	)	(0.7	)	(1.6	)
Other items – net *	(3.0	)	(3.3	)	(2.8	)
Effective income tax rate	29.1	%	28.3	%	23.1	%

* Other consists primarily of property adjustments.

Significant Items in Net Deferred Tax Liability

Laclede Gas' significant items comprising the net deferred tax liability reported in the Balance Sheets as of September 30 are as follows:

	2015		2014
Deferred tax assets:
Reserves not currently deductible	$	15.4	$	16.0
Pension and other postretirement benefits	62.5		67.3
Operating losses	3.7		2.9
Unamortized investment tax credits	1.5		1.6
Other	—		17.8
Total deferred tax assets	$	83.1	$	105.6
Deferred tax liabilities:
Relating to utility property	425.0		361.2
Regulatory pension and other postretirement benefits	120.2		119.2
Deferred gas costs	8.2		20.4
Other	14.5		15.9
Total deferred tax liabilities	$	567.9	$	516.7
Net deferred tax liability	484.8		411.1
Net deferred tax asset (liability) – current	0.4		(11.3		)
Net deferred tax liability – noncurrent	$	485.2	$	399.8

Unrecognized Tax Benefit Reconciliation

The following table presents a reconciliation of the beginning and ending balances of Laclede Gas unrecognized tax benefits:

	2015			2014			2013
Unrecognized tax benefits, beginning of year	$	4.2		$	2.0		$	5.6
Increases related to tax positions taken in current year	2.9			2.5			1.4
Reductions due to lapse of applicable statute of limitations	(0.2		)	(0.3		)	(5.0		)
Unrecognized tax benefits, end of year	$	6.9		$	4.2		$	2.0

Alagasco

Income Tax Contingency [Line Items]

Net Provision For Income Tax

Alagasco's provision for income taxes charged during the fiscal year ended September 30, 2015, the nine months ended September 30, 2014, and the year ended December 31, 2013 are as follows:

	Year Ended September 30,		Nine Months Ended September 30,		Year Ended December 31,
	2015		2014		2013
Federal
Current	$	—	$	14.1	$	17.5
Deferred	25.9		3.5		13.3
State and local
Current	0.1		1.8		2.2
Deferred	3.3		0.5		1.7
Total income tax expense	$	29.3	$	19.9	$	34.7

Effective income tax rate variation from stated tax rate

Alagasco's effective income tax rate varied from the federal statutory income tax rate for each year due to the following:

	Year Ended September 30,		Nine Months Ended September 30,		Year Ended December 31,
	2015		2014		2013
Federal income tax statutory rate	35.0	%	35.0	%	35.0	%
State and local income taxes, net of federal income tax benefits	2.8		2.8		2.8
Other items – net	0.1		(0.2	)	(0.1	)
Effective income tax rate	37.9	%	37.6	%	37.7	%

Significant Items in Net Deferred Tax Liability

Alagasco's significant items comprising the net deferred tax asset reported in the Balance Sheets as of September 30 are as follows:

	2015		2014
Deferred tax assets:
Reserves not currently deductible	$	7.0	$	2.5
Pension and other postretirement benefits	9.6		10.6
Goodwill	251.5		266.1
Operating losses	32.4		5.1
Other	1.4		0.2
Total deferred tax assets	$	301.9	$	284.5
Deferred tax liabilities:
Relating to utility property	45.1		4.0
Other	2.2		0.4
Total deferred tax liabilities	$	47.3	$	4.4
Net deferred tax asset	254.6		280.1
Net deferred tax asset – current	6.2		2.3
Net deferred tax asset – noncurrent	$	248.4	$	277.8

Unrecognized Tax Benefit Reconciliation

The following table presents a reconciliation of the beginning and ending balances of Alagasco's unrecognized tax benefits:

	Year Ended September 30,		Nine Months Ended September 30,			Year Ended December 31,
	2015		2014			2013
Unrecognized tax benefits, beginning of period	$	—	$	0.3		$	0.3
Reduction for transfer of balance to Energen	—		(0.3		)	—
Unrecognized tax benefits, end of period	$	—	$	—		$	0.3