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PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Tables)
 12 Months Ended
Sep. 30, 2015
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Fair value measurements of plan assets
The table below categorizes the fair value measurements of the Laclede Group's pension plan assets:
 
Quoted Prices in
Active Markets
(Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
As of September 30, 2015
 
 
 
 
 
 
 
Cash and cash equivalents
$
43.4

 
$
0.2

 
$
—

 
$
43.6

Stock/bond mutual fund
46.4

 
74.6

 
9.6

 
130.6

Debt Securities
 
 
 
 
 
 
 
US bond mutual funds
—

 
9.3

 
—

 
9.3

US government
58.7

 
—

 
—

 
58.7

US corporate
123.7

 
42.9

 
—

 
166.6

US municipal
—

 
5.9

 
—

 
5.9

International
—

 
31.3

 
—

 
31.3

Derivative instruments (a)
—

 
2.9

 
—

 
2.9

Total
$
272.2

 
$
167.1

 
$
9.6

 
$
448.9

 
 
 
 
 
 
 
 
As of September 30, 2014
 
 
 
 
 
 
 
Cash and cash equivalents
$
8.6

 
$
1.6

 
$
—

 
$
10.2

Stock/bond mutual fund
54.2

 
74.7

 
9.3

 
138.2

Debt Securities
 
 
 
 
 
 
 
US bond mutual funds
73.6

 
—

 
—

 
73.6

US government
—

 
64.5

 
—

 
64.5

US corporate
—

 
164.0

 
—

 
164.0

US municipal
—

 
8.2

 
—

 
8.2

International
—

 
35.5

 
—

 
35.5

Derivative instruments (b)
—

 
(1.0
)
 
—

 
(1.0
)
Other
—

 
13.4

 
—

 
13.4

Total
$
136.4

 
$
360.9

 
$
9.3

 
$
506.6

(a)
Cash collateral of $8.3 net of derivative liabilities of $5.4.
(b)
Derivative assets of $2.9 net of cash margin payable of $3.9.
The table below categorizes the fair value measurements of Laclede Group's postretirement plan assets:
 
Quoted Prices in
Active Markets
(Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
As of September 30, 2015
 
 
 
 
 
 
 
Cash and cash equivalents
$
1.6

 
$
—

 
$
—

 
$
1.6

US stock/bond mutual fund
115.5

 
92.8

 
—

 
208.3

International fund
—

 
13.4

 
—

 
13.4

Total
$
117.1

 
$
106.2

 
$
—

 
$
223.3

 
 
 
 
 
 
 
 
As of September 30, 2014
 
 
 
 
 
 
 
Cash and cash equivalents
$
2.3

 
$
—

 
$
—

 
$
2.3

US stock/bond mutual fund
213.0

 
—

 
—

 
213.0

International fund
7.2

 
—

 
—

 
7.2

Total
$
222.5

 
$
—

 
$
—

 
$
222.5
Pension Plans  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Net Periodic Cost
The net periodic pension costs include the following components:
 
2015
 
2014*
 
2013
Laclede Group
 
 
 
 
 
Service cost – benefits earned during the period
$
17.3

 
$
10.2

 
$
9.2

Interest cost on projected benefit obligation
29.5

 
24.5

 
17.0

Expected return on plan assets
(37.4
)
 
(27.2
)
 
(19.4
)
Amortization of prior other comprehensive income
—

 
0.4

 
—

Amortization of prior service cost
0.5

 
0.5

 
0.5

Amortization of actuarial loss
7.5

 
7.1

 
10.7

Loss on lump-sum settlements
19.6

 
1.5

 
27.0

Subtotal
37.0

 
17.0

 
45.0

Regulatory adjustment
(2.1
)
 
10.4

 
(27.5
)
Net pension cost
$
34.9

 
$
27.4

 
$
17.5

 
* Includes Alagasco.
 
 
 
2015
 
2014
 
2013
Laclede Gas
 
 
 
 
 
Service cost – benefits earned during the period
$
11.5

 
$
9.7

 
$
9.2

Interest cost on projected benefit obligation
23.3

 
24.0

 
17.0

Expected return on plan assets
(29.2
)
 
(26.5
)
 
(19.4
)
Amortization of prior service cost
0.5

 
0.5

 
0.5

Amortization of actuarial loss
7.5

 
7.1

 
10.7

Loss on lump-sum settlements
18.0

 
1.5

 
27.0

Subtotal
31.6

 
16.3

 
45.0

Regulatory adjustment
(5.2
)
 
10.4

 
(27.5
)
Net pension cost
$
26.4

 
$
26.7

 
$
17.5


 
2015
 
2014*
 
2013**
Alagasco
 
 
 
 
 
Service cost – benefits earned during the period
$
5.8

 
$
5.1

 
$
14.2

Interest cost on projected benefit obligation
6.2

 
4.1

 
11.2

Expected return on plan assets
(8.2
)
 
(5.2
)
 
(14.7
)
Amortization of prior service cost
—

 
0.1

 
0.5

Amortization of actuarial loss
—

 
2.2

 
14.0

Loss on lump-sum settlements
1.6

 
10.1

 
1.4

Subtotal
5.4

 
16.4

 
26.6

Regulatory adjustment
3.1

 
0.4

 
—

Net pension cost
$
8.5

 
$
16.8

 
$
26.6

 
* Nine months ended September 30,
 
** Year ended December 31, 2013
Other changes in plan assets and benefit obligations recognized in other comprehensive income
Other changes in plan assets and pension benefit obligations recognized in other comprehensive income include the following:
 
2015
 
2014
 
2013
Laclede Group
 
 
 
 
 
Current year actuarial loss
$
48.3

 
$
15.7

 
$
17.0

Amortization of actuarial loss
(7.5
)
 
(7.1
)
 
(10.7
)
Acceleration of loss recognized due to settlement
(19.6
)
 
(1.5
)
 
(27.0
)
Amortization of prior service cost
(0.5
)
 
(0.5
)
 
(0.5
)
Subtotal
20.7

 
6.6

 
(21.2
)
Regulatory adjustment
(21.2
)
 
(6.1
)
 
21.1

Total recognized in other comprehensive income
$
(0.5
)
 
$
0.5

 
$
(0.1
)
 
* Includes Alagasco.
 
 
 
 
 
 
 
 
Laclede Gas
2015
 
2014
 
2013
Current year actuarial loss
$
26.0

 
$
14.2

 
$
17.0

Amortization of actuarial loss
(7.5
)
 
(7.1
)
 
(10.7
)
Acceleration of loss recognized due to settlement
(18.0
)
 
(1.5
)
 
(27.0
)
Amortization of prior service cost
(0.5
)
 
(0.5
)
 
(0.5
)
Subtotal
—

 
5.1

 
(21.2
)
Regulatory adjustment
(0.5
)
 
(4.7
)
 
21.1

Total recognized in other comprehensive income
$
(0.5
)
 
$
0.4

 
$
(0.1
)
 
 
 
 
 
 
 
 
 
 
 
 
Alagasco
2015
 
2014*
 
2013**
Current year actuarial loss
$
22.3

 
$
1.5

 
$
(14.1
)
Amortization of actuarial loss
—

 
—

 
(8.9
)
Acceleration of loss recognized due to settlement
(1.6
)
 
—

 
—

Amortization of prior service cost
—

 
—

 
(0.3
)
Subtotal
20.7

 
1.5

 
(23.3
)
Regulatory adjustment
(20.7
)
 
(1.5
)
 
—

Total recognized in other comprehensive income
$
—

 
$
—

 
$
(23.3
)
 
* Nine months ended September 30
 
** Year ended December 31
Reconciliation of the beginning and ending balances of benefit obligation
The following table shows the reconciliation of the beginning and ending balances of the pension benefit obligation at September 30:
 
Laclede Group
 
Laclede Gas
 
Alagasco
 
2015
 
2014**
 
2015
 
2014
 
2015
 
2014***
Benefit obligation, beginning of year
$
692.4

 
$
503.8

 
$
543.6

 
$
503.8

 
$
148.8

 
$
293.4

Service cost
17.3

 
10.2

 
11.5

 
9.7

 
5.8

 
5.1

Interest cost
29.5

 
24.5

 
23.3

 
24.0

 
6.2

 
4.1

Actuarial (gain) loss
(12.8
)
 
39.4

 
(20.7
)
 
41.5

 
7.9

 
7.8

Energen divestiture
—

 
—

 
—

 
—

 
—

 
(127.8
)
Alagasco acquisition
—

 
150.2

 
—

 
—

 
—

 
—

Settlement loss
16.5

 
1.2

 
14.5

 
1.2

 
2.0

 
—

Gross benefits paid *
(90.6
)
 
(36.9
)
 
(74.6
)
 
(36.6
)
 
(16.0
)
 
(33.8
)
Benefit obligation, end of year
$
652.3

 
$
692.4

 
$
497.6

 
$
543.6

 
$
154.7

 
$
148.8

Accumulated benefit obligation, end of year
591.4

 
$
613.7

 
456.9

 
$
484.1

 
134.5

 
$
129.6

*
Includes $71.1 ($58.2 attributable to Laclede Gas and $12.9 to Alagasco) and $22.1 lump-sum payments recognized as settlements in fiscal years 2015 and 2014, respectively.
** Includes Alagasco.
*** Nine-month transition period ended September 30.
Fair value of plan assets
The following table sets forth the reconciliation of the beginning and ending balances of the fair value of plan assets at September 30:
 
Laclede Group
 
Laclede Gas
 
Alagasco
 
2015
 
2014*
 
2015
 
2014
 
2015
 
2014**
Fair value of plan assets, beginning of year
$
506.6

 
$
345.4

 
$
387.4

 
$
345.4

 
$
119.2

 
$
219.5

Actual return on plan assets
(7.2
)
 
52.1

 
(3.0
)
 
55.0

 
(4.2
)
 
7.8

Employer contributions
40.1

 
23.6

 
30.1

 
23.6

 
10.0

 
1.6

Settlements
(71.1
)
 
—

 
(58.2
)
 
—

 
(12.9
)
 
—

Energen divestiture
—

 
—

 
—

 
—

 
—

 
(75.9
)
Alagasco acquisition
—

 
122.4

 
—

 
—

 
—

 
—

Gross benefits paid
(19.5
)
 
(36.9
)
 
(16.4
)
 
(36.6
)
 
(3.1
)
 
(33.8
)
Fair value of plan assets, end of year
$
448.9

 
$
506.6

 
$
339.9

 
$
387.4

 
$
109.0

 
$
119.2

Funded status of plans, end of year
$
(203.4
)
 
$
(185.8
)
 
$
(157.7
)
 
$
(156.2
)
 
$
(45.7
)
 
$
(29.6
)
*    Includes Alagasco.
**    Nine-month transition period ended September 30.
Amounts recognized in consolidated balance sheets
The following table sets forth the amounts recognized in the balance sheets at September 30:
 
Laclede Group
 
Laclede Gas
 
Alagasco
 
2015
 
2014*
 
2015
 
2014
 
2015
 
2014**
Current liabilities
$
(0.5
)
 
$
(0.5
)
 
$
(0.5
)
 
$
(0.5
)
 
$
—

 
$
—

Noncurrent liabilities
(202.9
)
 
(185.4
)
 
(157.2
)
 
(155.7
)
 
(45.7
)
 
(29.6
)
Total
$
(203.4
)
 
$
(185.9
)
 
$
(157.7
)
 
$
(156.2
)
 
$
(45.7
)
 
$
(29.6
)

*    Includes Alagasco.
**    Nine-month transition period ended September 30.
Pre-tax amounts amortized from accumulated other comprehensive income into net periodic cost
At September 30, 2015, the following pre-tax amounts are expected to be amortized from accumulated other comprehensive income into net periodic pension cost during fiscal year 2016:
 
Laclede Group
 
Laclede Gas
 
Alagasco
Amortization of net actuarial loss
$
7.8

 
$
7.8

 
$
—

Amortization of prior service cost
0.4

 
0.4

 
—

Subtotal
8.2

 
8.2

 
—

Regulatory adjustment
(7.9
)
 
(7.9
)
 
—

Total
$
0.3

 
$
0.3

 
$
—
Assumptions used to calculate net periodic cost and benefit obligations.
The assumptions used to calculate the benefit obligations are as follows:
 
2015
 
2014
Weighted average discount rate - Laclede Gas
4.40%
 
4.30%
Weighted average discount rate - MGE
4.50%
 
4.45%
Weighted average discount rate - Alagasco
4.25%/4.30%
 
4.15% / 4.25%
Weighted average rate of future compensation increase (Laclede Gas and MGE)
3.00%
 
3.00%
Weighted average rate of future compensation increase (Alagasco)
3.00%
 
2.92%

The assumptions used to calculate net periodic pension costs for Laclede Gas are as follows:
 
2015
 
2014
 
2013
Weighted average discount rate - Laclede Gas plans
4.30%
 
4.70%
 
3.95%
Weighted average discount rate - MGE plans
4.45%
 
5.00%
 
5.05%
Weighted average rate of future compensation increase *
3.00%
 
3.00%
 
3.00%
Expected long-term rate of return on plan assets *
7.75%
 
7.75%
 
7.75%

*
Assumptions for weighted average rate of future compensation increase and expected long-term rate of return on plan assets are the same for both Laclede Gas and MGE plans.
The assumptions used to calculate net periodic pension costs for Alagasco are as follows:
 
2015
 
2014 *
 
2013 **
Weighted average discount rate
4.15% /4.25%
 
4.00% / 4.05%
 
3.63%
Weighted average rate of future compensation increase
2.92%
 
2.92%
 
3.71%
Expected long-term rate of return on plan assets
7.00% / 7.25%
 
7.00% / 7.25%
 
7.00%
*    Nine-month transition period ended September 30.
**    Year Ended December 31.
Projected benefit obligation, accumulated benefit obligation, and fair value of plan assets for plans that have projected benefit obligation and accumulated benefit obligation in excess of plan assets
Following are the projected benefit obligation, accumulated benefit obligation, and fair value of plan assets for plans that have a projected benefit obligation and an accumulated benefit obligation in excess of plan assets:
 
Laclede Group
 
Laclede Gas
 
Alagasco
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
Projected benefit obligation
$
652.3

 
$
692.4

 
$
497.6

 
$
543.6

 
$
154.7

 
$
148.8

Accumulated benefit obligation
591.4

 
613.7

 
456.9

 
484.1

 
134.5

 
129.6

Fair value of plan assets
448.9

 
506.6

 
339.9

 
387.4

 
109.0

 
119.2
Targeted and actual plan assets by category
Following are the targeted and actual plan assets by category as of September 30 of each year for Alagasco:
 
2015 Target
 
2015
Actual
 
2014 Target
 
2014
Actual
Equity markets
60.0
%
 
52.9
%
 
46.0
%
 
46.0
%
Debt securities
29.0
%
 
27.9
%
 
33.0
%
 
29.0
%
Other*
11.0
%
 
19.2
%
 
21.0
%
 
25.0
%
Total
100.0
%
 
100.0
%
 
100.0
%
 
100.0
%
* Other investments in 2015 and 2014 include cash and cash equivalents, hedge funds, real estate, and all asset funds, which can invest in equities or fixed income.
Following are the targeted and actual plan assets by category as of September 30 of each year for Laclede Gas:
 
2015 Target
 
2015
Actual
2014 Target
 
2014
Actual
Growth Strategy
 
 
 
 
 
 
Equity markets
52.0
%
 
48.4
%
50.0
%
 
51.2
%
Debt securities
48.0
%
 
50.1
%
50.0
%
 
48.7
%
Other*
—
%
 
1.5
%
—
%
 
0.1
%
Total
100.0
%
 
100.0
%
100.0
%
 
100.0
%
* Other investments in 2015 and 2014 consist of cash equivalents.
Expected benefit payments for the succeeding five fiscal years
Following are expected pension benefit payments for the succeeding five fiscal years, and in aggregate for the five years thereafter for Laclede Group, Laclede Gas, and Alagasco:
 
 
Laclede Group
 
Laclede Gas
 
Alagasco
 
 
 Pensions from
Qualified Trust
 
Pensions from
Company
Funds
 
 Pensions from
Qualified Trust
 
Pensions from
Laclede Gas
Funds
 
 Pensions from
Qualified Trust
2016
 
$
45.9

 
$
0.5

 
$
36.4

 
$
0.5

 
$
9.5

2017
 
45.7

 
0.6

 
35.7

 
0.6

 
10.0

2018
 
43.5

 
0.5

 
33.9

 
0.5

 
9.6

2019
 
44.9

 
0.4

 
35.0

 
0.4

 
9.9

2020
 
46.4

 
0.5

 
35.4

 
0.5

 
11.0

2021 – 2025
 
235.0

 
2.1

 
177.3

 
2.1

 
57.7
Postretirement Plans  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Net Periodic Cost
Net periodic postretirement benefit costs consist of the following components:
Laclede Group
2015
 
2014*
 
2013
Service cost – benefits earned during the period
$
12.8

 
$
11.3

 
$
10.2

Interest cost on accumulated postretirement benefit obligation
11.2

 
8.9

 
5.2

Expected return on plan assets
(13.2
)
 
(7.3
)
 
(4.5
)
Amortization of prior other comprehensive loss
—

 
(0.2
)
 
—

Amortization of transition obligation
—

 
—

 
0.1

Amortization of prior service credit
0.8

 
—

 
—

Amortization of actuarial loss
5.1

 
6.0

 
5.3

Subtotal
16.7

 
18.7

 
16.3

Regulatory adjustment
(11.0
)
 
(9.6
)
 
(6.8
)
Net postretirement benefit cost
$
5.7

 
$
9.1

 
$
9.5

 
* Includes Alagasco.
 
 
 
 
 
 
 
 
Laclede Gas
2015
 
2014
 
2013
Service cost – benefits earned during the period
$
12.3

 
$
11.2

 
$
10.2

Interest cost on accumulated postretirement benefit obligation
8.6

 
8.7

 
5.2

Expected return on plan assets
(8.1
)
 
(6.8
)
 
(4.5
)
Amortization of transition obligation
—

 
—

 
0.1

Amortization of prior service credit
0.8

 
—

 
—

Amortization of actuarial loss
5.1

 
6.0

 
5.3

Subtotal
18.7

 
19.1

 
16.3

Regulatory adjustment
(9.2
)
 
(9.6
)
 
(6.8
)
Net postretirement benefit cost
$
9.5

 
$
9.5

 
$
9.5

 
 
 
 
 
 
Alagasco
2015
 
2014 *
 
2013 **
Service cost – benefits earned during the period
$
0.5

 
$
0.4

 
$
1.7

Interest cost on accumulated postretirement benefit obligation
2.6

 
1.9

 
3.5

Expected return on plan assets
(5.1
)
 
(3.6
)
 
(5.0
)
Amortization of transition obligation
—

 
—

 
1.3

Amortization of actuarial loss
—

 
(1.0
)
 
(0.1
)
Curtailment gain
—

 
—

 
(1.2
)
Subtotal
(2.0
)
 
(2.3
)
 
0.2

Regulatory adjustment
(1.8
)
 
(0.2
)
 
—

Net postretirement benefit cost
$
(3.8
)
 
$
(2.5
)
 
$
0.2

 
* Nine months ended September 30
 
** Year ended December 31
Other changes in plan assets and benefit obligations recognized in other comprehensive income
Other changes in plan assets and postretirement benefit obligations recognized in other comprehensive income include the following:
Laclede Group
2015
 
2014*
 
2013
Current year actuarial (gain) loss
$
(8.5
)
 
$
(3.1
)
 
$
16.3

Amortization of actuarial loss
(5.1
)
 
(6.0
)
 
(5.3
)
Amortization of prior service credit
(0.8
)
 
2.5

 
—

Current year prior service credit
(4.9
)
 
—

 
—

Amortization of transition obligation
—

 
—

 
(0.1
)
Subtotal
(19.3
)
 
(6.6
)
 
10.9

Regulatory adjustment
19.3

 
6.6

 
(10.9
)
Total recognized in other comprehensive income
$
—

 
$
—

 
$
—

*Includes Alagasco.
 
 
 
 
 
 
 
 
 
 
 
Laclede Gas
2015
 
2014
 
2013
Current year actuarial (gain) loss
$
(2.4
)
 
$
(4.2
)
 
$
16.3

Amortization of actuarial loss
(5.1
)
 
(6.0
)
 
(5.3
)
Amortization of prior service credit
(0.8
)
 
2.5

 
—

Current year prior service credit
(4.9
)
 
—

 
—

Amortization of transition obligation
—

 
—

 
(0.1
)
Subtotal
(13.2
)
 
(7.7
)
 
10.9

Regulatory adjustment
13.2

 
7.7

 
(10.9
)
Total recognized in other comprehensive income
$
—

 
$
—

 
$
—

 
 
 
 
 
 
Alagasco
2015
 
2014
 
2013
Current year actuarial (gain) loss
$
(6.1
)
 
$
1.1

 
$
(8.1
)
Amortization of actuarial loss
—

 
—

 
0.6

Amortization of transition obligation
—

 
—

 
(0.3
)
Subtotal
(6.1
)
 
1.1

 
(7.8
)
Regulatory adjustment
6.1

 
(1.1
)
 
—

Total recognized in other comprehensive income
$
—

 
$
—

 
$
(7.8
)
Reconciliation of the beginning and ending balances of benefit obligation
The following table sets forth the reconciliation of the beginning and ending balances of the postretirement benefit obligation at September 30:
 
Laclede Group
 
Laclede Gas
 
Alagasco
($ Millions)
2015
 
2014*
 
2015
 
2014
 
2015
 
2014 **
Benefit obligation, beginning of year
$
258.5

 
$
180.1

 
$
197.9

 
$
180.1

 
$
60.6

 
$
63.3

Service cost
12.8

 
11.3

 
12.3

 
11.2

 
0.5

 
0.4

Interest cost
11.2

 
8.9

 
8.6

 
8.7

 
2.6

 
1.9

Actuarial loss (gain)
(23.7
)
 
1.2

 
(10.9
)
 
2.2

 
(12.8
)
 
4.3

Plan amendments
(4.9
)
 
2.5

 
(4.9
)
 
2.5

 
—

 
—

Energen divestiture
—

 
—

 
—

 
—

 
—

 
(5.6
)
Alagasco acquisition
—

 
61.8

 
—

 
—

 
—

 
—

Retiree drug subsidy program
0.4

 
—

 
—

 
—

 
0.4

 
0.3

Gross benefits paid
(15.1
)
 
(7.3
)
 
(11.1
)
 
(6.8
)
 
(4.0
)
 
(4.0
)
Benefit obligation, end of year
$
239.2

 
$
258.5

 
$
191.9

 
$
197.9

 
$
47.3

 
$
60.6

 
 * Includes Alagasco.
 
 ** Nine-month transition period ended September 30.
Fair value of plan assets
The following table sets forth the reconciliation of the beginning and ending balances of the fair value of plan assets at September 30:
 
Laclede Group
 
Laclede Gas
 
Alagasco
 
2015
 
2014*
 
2015
 
2014
 
2015
 
2014
Fair value of plan assets at beginning of year
$
222.5

 
$
111.6

 
$
137.2

 
$
111.6

 
$
85.3

 
$
98.6

Actual return on plan assets
(2.0
)
 
11.6

 
(0.4
)
 
13.3

 
(1.6
)
 
1.4

Employer contributions
17.9

 
19.1

 
17.9

 
19.1

 
—

 
0.3

Energen divestiture
—

 
—

 
—

 
—

 
—

 
(11.0
)
Alagasco acquisition
—

 
87.5

 
—

 
—

 
—

 
—

Gross benefits paid
(15.1
)
 
(7.3
)
 
(11.1
)
 
(6.8
)
 
(4.0
)
 
(4.0
)
Fair value of plan assets, end of year
$
223.3

 
$
222.5

 
$
143.6

 
$
137.2

 
$
79.7

 
$
85.3

Funded status of plans, end of year
$
(15.9
)
 
$
(36.0
)
 
$
(48.3
)
 
$
(60.7
)
 
$
32.4

 
$
24.7

 
 * Includes Alagasco.
 
 ** Nine-month transition period ended September 30.
Amounts recognized in consolidated balance sheets
The following table sets forth the amounts recognized in the balance sheets at September 30:
 
Laclede Group
 
Laclede Gas
 
Alagasco
 
2015
 
2014*
 
2015
 
2014
 
2015
 
2014
Noncurrent assets
$
35.5

 
$
25.0

 
$
3.1

 
$
0.3

 
$
32.4

 
$
24.7

Current liabilities
(0.3
)
 
(0.3
)
 
(0.3
)
 
(0.3
)
 
—

 
—

Noncurrent liabilities
(51.1
)
 
(60.7
)
 
(51.1
)
 
(60.7
)
 
—

 
—

Total
$
(15.9
)
 
$
(36.0
)
 
$
(48.3
)
 
$
(60.7
)
 
$
32.4

 
$
24.7

Pre-tax amounts recognized in accumulated other comprehensive income not yet recognized as components of net periodic postretirement benefit cost consist of:
 
Laclede Group
 
Laclede Gas
 
Alagasco
 
2015
 
2014*
 
2015
 
2014
 
2015
 
2014
Net actuarial loss
$
40.8

 
$
54.4

 
$
45.8

 
$
53.3

 
$
(5.0
)
 
$
1.1

Prior service credit
(3.1
)
 
2.5

 
(3.1
)
 
2.5

 
—

 
—

Subtotal
37.7

 
56.9

 
42.7

 
55.8

 
(5.0
)
 
1.1

Adjustments for amounts included in Regulatory Assets
$
(37.7
)
 
$
(56.9
)
 
$
(42.7
)
 
$
(55.8
)
 
$
5.0

 
$
(1.1
)
Total
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—
Pre-tax amounts amortized from accumulated other comprehensive income into net periodic cost
t September 30, 2015, the following pre-tax amounts are expected to be amortized from accumulated other comprehensive income into net periodic postretirement benefit cost during fiscal year 2016:
 
Laclede Group
 
Laclede Gas
 
Alagasco
Amortization of net actuarial loss
$
3.7

 
$
3.9

 
$
(0.2
)
Amortization of prior service cost
0.3

 
0.3

 
—

Subtotal
4.0

 
4.2

 
(0.2
)
Regulatory adjustment
(4.0
)
 
(4.2
)
 
0.2

Total
$
—

 
$
—

 
$
—
Assumptions used to calculate net periodic cost and benefit obligations.
The assumptions used to calculate the accumulated postretirement benefit obligations for Laclede Gas are as follows:
 
2015
 
2014
Weighted average discount rate - Laclede Gas plans
4.00
%
 
4.15
%
Weighted average discount rate - MGE Plans
4.30
%
 
4.40
%
Weighted average rate of future compensation increase
3.00
%
 
3.00
%
The assumptions used to calculate the accumulated postretirement benefit obligations for Alagasco are as follows:
 
2015
 
2014
Weighted average discount rate
4.50
%
 
4.40
%
Weighted average rate of future compensation increase
n/a

 
n/a

The assumptions used to calculate net periodic postretirement benefit costs for Laclede Gas are as follows:
 
2015
 
2014
 
2013
Weighted average discount rate Laclede Gas plans
4.15
%
 
4.60
%
 
3.80
%
Weighted average discount rate MGE plans
4.40
%
 
4.95
%
 
5.00
%
Weighted average rate of future compensation increase (Laclede Gas and MGE Plans)
3.00
%
 
3.00
%
 
3.00
%
Expected long-term rate of return on plan assets - Laclede Gas plans
6.25% / 7.75%

 
6.25% / 7.75%

 
7.75
%
Expected long-term rate of return on plan assets - MGE plans
5.00
%
 
3.75% / 5.75%

 
5.75
%

The assumptions used to calculate net periodic postretirement benefit costs for Alagasco are as follows:
 
2015
 
2014
 
2013
Weighted average discount rate
4.40
%
 
4.25
%
 
4.26
%
Expected long-term rate of return on plan assets
4.75% / 7.50%

 
4.75% / 7.25%

 
7.00
%
Targeted and actual plan assets by category
Following are the targeted and actual plan assets by category as of September 30 of each year for Laclede Gas:
 
Target
 
2015
Actual
 
2014
Actual
Equity securities
60.0
%
 
59.6
%
 
59.0
%
Debt securities
40.0
%
 
39.7
%
 
39.0
%
Other
—
%
 
0.7
%
 
2.0
%
Total
100.0
%
 
100.0
%
 
100.0
%
Following are the targeted and actual plan assets by category as of September 30 of each year for Alagasco:
 
Target
 
2015
Actual
 
2014
Actual
Equity securities
60.0
%
 
59.7
%
 
60.0
%
Debt securities
40.0
%
 
40.3
%
 
40.0
%
Total
100.0
%
 
100.0
%
 
100.0
%
Expected benefit payments for the succeeding five fiscal years
Following are expected postretirement benefit payments for the succeeding five fiscal years, and in aggregate for the five years thereafter for Laclede Group, Laclede Gas, and Alagasco:
 
 
Laclede Group
 
Laclede Gas
 
Alagasco
 
 
 Benefits from
Qualified Trust
 
Benefits from
Company
Funds
 
 Benefits from
Qualified Trust
 
Benefits from
Laclede Gas
Funds
 
Benefits from
Qualified Trust
2016
 
$
15.1

 
$
0.4

 
$
12.3

 
$
0.4

 
$
2.8

2017
 
16.2

 
0.4

 
13.3

 
0.4

 
2.9

2018
 
17.5

 
0.4

 
14.6

 
0.4

 
2.9

2019
 
18.3

 
0.4

 
15.4

 
0.4

 
2.9

2020
 
19.2

 
0.4

 
16.3

 
0.4

 
2.9

2021 – 2025
 
104.9

 
2.3

 
90.4

 
2.3

 
14.5
Assumed medical cost trend rates and effect of an assumed 1% changed in assumed medical cost trend.
The assumed medical cost trend rates at September 30 are as follows:
 
2015
 
2014
Medical cost trend assumed for next year - Laclede Gas & MGE
7.00
%
 
7.50
%
Medical cost trend assumed for next year - Alagasco
7.00
%
 
7.25
%
Rate to which the medical cost trend rate is assumed to decline (the ultimate medical cost trend rate)
5.00
%
 
5.00
%
Year the rate reaches the ultimate trend
2020

 
2020

The following table presents the effect of an assumed 1% change in the assumed medical cost trend rate:
 
1% Increase
 
1% Decrease
Laclede Group
 
 
 
Effect on net periodic postretirement benefit cost
$
1.6

 
$
(1.5
)
Effect on accumulated postretirement benefit obligation
9.2

 
(8.5
)
 
 
 
 
Laclede Gas
 
 
 
Effect on net periodic postretirement benefit cost
$
1.5

 
$
(1.4
)
Effect on accumulated postretirement benefit obligation
8.7

 
(8.0
)
 
 
 
 
Alagasco
 
 
 
Effect on net periodic postretirement benefit cost
$
0.1

 
$
(0.1
)
Effect on accumulated postretirement benefit obligation
0.5

 
(0.5
)
Laclede Gas  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Fair value measurements of plan assets
The table below categorizes the fair value measurements of Laclede Gas' pension plan assets:
 
Quoted Prices in
Active Markets
(Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
As of September 30, 2015
 
 
 
 
 
 
 
Cash and cash equivalents
$
31.8

 
$
—

 
$
—

 
$
31.8

Stock/bond mutual fund
—

 
67.6

 
0.1

 
67.7

Debt Securities
 
 
 
 
 
 
 
US government
37.7

 
—

 
—

 
37.7

US corporate
123.7

 
42.9

 
—

 
166.6

US municipal
—

 
5.9

 
—

 
5.9

International
—

 
27.3

 
—

 
27.3

Derivative instruments (a)
—

 
2.9

 
—

 
2.9

Total
$
193.2

 
$
146.6

 
$
0.1

 
$
339.9

 
 
 
 
 
 
 
 
As of September 30, 2014
 
 
 
 
 
 
 
Cash and cash equivalents
$
8.3

 
$
—

 
$
—

 
$
8.3

Stock/bond mutual fund
—

 
39.2

 
9.3

 
48.5

Debt Securities
 
 
 
 
 
 
 
US bond mutual funds
73.6

 
—

 
—

 
73.6

US government
—

 
60.5

 
—

 
60.5

US corporate
—

 
154.5

 
—

 
154.5

US municipal
—

 
8.2

 
—

 
8.2

International
—

 
34.8

 
—

 
34.8

Derivative instruments (b)
—

 
(1.0
)
 
—

 
(1.0
)
Total
$
81.9

 
$
296.2

 
$
9.3

 
$
387.4

(a)
Cash collateral of $8.3 net of derivative liabilities of $5.4.
(b)
Derivative assets of $2.9 net of cash margin payable of $3.9.


The table below categorizes the fair value measurements of Laclede Gas' postretirement plan assets:
 
Quoted Prices in
Active Markets
(Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
As of September 30, 2015
 
 
 
 
 
 
 
Cash and cash equivalents
$
1.6

 
$
—

 
$
—

 
$
1.6

US stock/bond mutual fund
115.5

 
26.5

 
—

 
142.0

Total
$
117.1

 
$
26.5

 
$
—

 
$
143.6

 
 
 
 
 
 
 
 
As of September 30, 2014
 
 
 
 
 
 
 
Cash and cash equivalents
$
2.3

 
$
—

 
$
—

 
$
2.3

US stock/bond mutual fund
134.9

 
—

 
—

 
134.9

Total
$
137.2

 
$
—

 
$
—

 
$
137.2

Alagasco
The table below categorizes the fair value measurements of Alagasco's pension plan assets:
 
Quoted Prices in
Active Markets
(Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
As of September 30, 2015
 
 
 
 
 
 
 
Cash and cash equivalents
$
11.6

 
$
0.2

 
$
—

 
$
11.8

Stock/bond mutual fund
46.4

 
7.0

 
9.5

 
62.9

Debt Securities
 
 
 
 
 
 
 
US bond mutual funds
—

 
9.3

 
—

 
9.3

US government
—

 
21.0

 
—

 
21.0

International
—

 
4.0

 
—

 
4.0

Derivative instruments (a)
—

 
—

 
—

 
—

Total
$
58.0

 
$
41.5

 
$
9.5

 
$
109.0

 
 
 
 
 
 
 
 
As of September 30, 2014
 
 
 
 
 
 
 
Cash and cash equivalents
$
0.3

 
$
1.6

 
$
—

 
$
1.9

Stock/bond mutual fund
54.2

 
35.5

 
—

 
89.7

Debt Securities
 
 
 
 
 
 
 
US government
—

 
4.0

 
—

 
4.0

US corporate


 
9.5

 
—

 
9.5

International


 
0.7

 
—

 
0.7

Other
—

 
13.4

 
—

 
13.4

Total
$
54.5

 
$
64.7

 
$
—

 
$
119.2

The table below categorizes the fair value measurements of Alagasco's postretirement plan assets:
 
Quoted Prices in
Active Markets
(Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
As of September 30, 2015
 
 
 
 
 
 
 
US stock/bond mutual fund
$
—

 
$
66.3

 
$
—

 
$
66.3

International Fund
—

 
13.4

 
—

 
13.4

Total
$
—

 
$
79.7

 
$
—

 
$
79.7

 
 
 
 
 
 
 
 
As of September 30, 2014
 
 
 
 
 
 
 
Cash and cash equivalents
$
0.1

 
$
—

 
$
—

 
$
0.1

US stock/bond mutual fund
43.6

 
34.4

 
—

 
78.0

International Fund
7.2

 
—

 
—

 
7.2

Total
$
50.9

 
$
34.4

 
$
—

 
$
85.3