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INFORMATION BY OPERATING SEGMENT
 12 Months Ended
Sep. 30, 2017
Segment Reporting [Abstract]  
INFORMATION BY OPERATING SEGMENT
INFORMATION BY OPERATING SEGMENT
Spire
The Company has two reportable segments: Gas Utility and Gas Marketing. The Gas Utility segment is the aggregation of the operations of the Utilities. The Gas Marketing segment includes the results of Spire Marketing, a subsidiary engaged in the non-regulated marketing of natural gas and related activities, and Spire Storage Inc., which utilizes natural gas storage contracts for providing natural gas sales. Other includes:
•
unallocated corporate items, including certain debt and associated interest costs;
•
Spire STL Pipeline, a subsidiary of Spire planning construction and operation of a proposed 65-mile FERC regulated pipeline to deliver natural gas into eastern Missouri; and
•
Spire’s subsidiaries engaged in the operation of a propane pipeline, compression of natural gas and risk management, among other activities.
Accounting policies are described in Note 1, Summary of Significant Accounting Policies. Intersegment transactions include sales of natural gas from Spire Marketing to Spire Missouri, sales of natural gas from Spire Missouri to Spire Marketing, propane transportation services provided by Spire NGL Inc. (formerly Laclede Pipeline Company) to Spire Missouri, and propane storage services provided by Spire Missouri to Spire NGL Inc.
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
2017
 
 
 
 
Revenues from external customers
$
1,660.0

 
$
79.3

 
$
1.4

 
$
—

 
$
1,740.7

Intersegment revenues
7.9

 
—

 
6.3

 
(14.2
)
 
—

Total Operating Revenues
1,667.9

 
79.3

 
7.7

 
(14.2
)
 
1,740.7

Operating Expenses
 
 
 
 
 
 
 
 
 
Gas Utility
 
 
 
 
 
 
 
 
 
Natural and propane gas
645.9

 
—

 
—

 
(75.4
)
 
570.5

Other operation and maintenance
409.1

 
—

 
—

 
(4.1
)
 
405.0

Depreciation and amortization
153.5

 
—

 
—

 
—

 
153.5

Taxes, other than income taxes
137.8

 
—

 
—

 
—

 
137.8

Total Gas Utility Operating Expenses
1,346.3

 
—

 
—

 
(79.5
)
 
1,266.8

Gas Marketing and Other *
—

 
74.1


12.8


65.3

 
152.2

Total Operating Expenses
1,346.3

 
74.1

 
12.8

 
(14.2
)
 
1,419.0

Operating Income (Loss)
$
321.6

 
$
5.2

 
$
(5.1
)
 
$
—

 
$
321.7

Net Economic Earnings (Loss)
$
181.5

 
$
6.8

 
$
(20.7
)
 
$
—

 
$
167.6

Capital Expenditures
$
412.6

 
$
—

 
$
25.5

 
$
—

 
$
438.1

 
Gas Utility
 
Gas Marketing
 
Other
 
Eliminations
 
Consolidated
2016
 
 
 
 
Revenues from external customers
$
1,457.2

 
$
78.5

 
$
1.6

 
$
—

 
$
1,537.3

Intersegment revenues
2.2

 
—

 
3.2

 
(5.4
)
 
—

Total Operating Revenues
1,459.4

 
78.5

 
4.8

 
(5.4
)
 
1,537.3

Operating Expenses
 
 
 
 
 
 
 
 
 
Gas Utility
 
 
 
 
 
 
 
 
 
Natural and propane gas
539.7

 
—

 
—

 
(47.5
)
 
492.2

Other operation and maintenance
379.3

 
—

 
—

 
(1.8
)
 
377.5

Depreciation and amortization
136.9

 
—

 
—

 
—

 
136.9

Taxes, other than income taxes
125.2

 
—

 
—

 
—

 
125.2

Total Gas Utility Operating Expenses
1,181.1

 
—

 
—

 
(49.3
)
 
1,131.8

Gas Marketing and Other *
—

 
66.7


12.6


43.9

 
123.2

Total Operating Expenses
1,181.1

 
66.7

 
12.6

 
(5.4
)
 
1,255.0

Operating Income (Loss)
$
278.3

 
$
11.8

 
$
(7.8
)
 
$
—

 
$
282.3

Net Economic Earnings (Loss)
$
160.3

 
$
6.4

 
$
(17.6
)
 
$
—

 
$
149.1

Capital Expenditures
$
291.7

 
$
—

 
$
1.6

 
$
—

 
$
293.3

 
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

 
12.6


(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

*
Operating Expenses for “Gas Marketing and Other” include depreciation and amortization for Gas Marketing ($0.1 for 2017, $0.1 for 2016, and $0.3 for 2015) and for Other ($0.5 for 2017, $0.5 for 2016, and $0.6 for 2015).
Total Assets at End of Year
2017
 
2016
 
2015
Gas Utility
$
5,551.2

 
$
5,184.7

 
$
4,679.3

Gas Marketing
246.2

 
205.0

 
160.6

Other
2,239.5

 
1,836.6

 
1,554.5

Eliminations
(1,490.2
)
 
(1,161.9
)
 
(1,116.8
)
Total Assets
$
6,546.7

 
$
6,064.4

 
$
5,277.6


Reconciliation of Consolidated Net Income
to Consolidated Net Economic Earnings
2017
 
2016
 
2015
Net Income
$
161.6

 
$
144.2

 
$
136.9

Adjustments, pre-tax:
 
 
 
 
 
Unrealized loss (gain) on energy-related derivatives
6.0

 
(0.1
)
 
(2.8
)
Lower of cost or market inventory adjustments
—

 
0.2

 
0.4

Realized (gain) loss on economic hedges prior
     to the sale of the physical commodity
(0.3
)
 
(1.6
)
 
2.4

Acquisition, divestiture and restructuring activities
4.0

 
9.2

 
9.8

Gain on sale of property
—

 
—

 
(7.6
)
Income tax effect of adjustments
(3.7
)
 
(2.8
)
 
(0.8
)
Net Economic Earnings
$
167.6

 
$
149.1

 
$
138.3