As explained in Note 1, Summary of Significant Accounting Policies, the Utilities account for regulated operations in accordance with FASB ASC Topic 980, Regulated Operations. The following regulatory assets and regulatory liabilities were reflected in the balance sheets of the Company, Spire Missouri and Spire Alabama as of March 31, 2019, September 30, 2018, and March 31, 2018.

	March 31,		September 30,		March 31,
Spire	2019		2018		2018
Regulatory Assets:
Current:
Pension and postretirement benefit costs	$	30.2	$	30.2	$	43.0
Unamortized purchased gas adjustments		19.3		8.2		32.6
Other		25.8		34.4		22.1
Total Current Regulatory Assets		75.3		72.8		97.7
Noncurrent:
Pension and postretirement benefit costs		345.8		364.9		358.2
Cost of removal		134.6		133.4		125.0
Future income taxes due from customers		102.2		96.3		113.0
Energy efficiency		32.0		32.8		31.3
Other		45.3		42.4		46.1
Total Noncurrent Regulatory Assets		659.9		669.8		673.6
Total Regulatory Assets	$	735.2	$	742.6	$	771.3
Regulatory Liabilities:
Current:
Pension and postretirement benefit costs	$	5.8	$	2.2	$	2.2
Unamortized purchased gas adjustments		3.4		2.9		1.5
Other		26.1		30.6		18.5
Total Current Regulatory Liabilities		35.3		35.7		22.2
Noncurrent:
Deferred taxes due to customers		155.7		178.3		170.7
Pension and postretirement benefit costs		115.3		27.8		30.8
Accrued cost of removal		53.7		63.6		71.0
Unamortized purchased gas adjustments		75.7		4.7		50.3
Other		30.9		80.2		30.3
Total Noncurrent Regulatory Liabilities		431.3		354.6		353.1
Total Regulatory Liabilities	$	466.6	$	390.3	$	375.3

	March 31,		September 30,		March 31,
Spire Missouri	2019		2018		2018
Regulatory Assets:
Current:
Pension and postretirement benefit costs	$	21.9	$	21.9	$	34.9
Unamortized purchased gas adjustments		0.6		1.0		13.5
Other		7.5		7.8		3.3
Total Current Regulatory Assets		30.0		30.7		51.7
Noncurrent:
Future income taxes due from customers		99.0		94.4		111.4
Pension and postretirement benefit costs		277.9		292.5		279.0
Energy efficiency		32.0		32.8		31.3
Other		24.7		21.4		24.9
Total Noncurrent Regulatory Assets		433.6		441.1		446.6
Total Regulatory Assets	$	463.6	$	471.8	$	498.3
Regulatory Liabilities:
Current:
Pension and postretirement benefit costs	$	3.6	$	—	$	—
Unamortized purchased gas adjustments		2.7		1.9		—
Other		17.9		14.8		2.7
Total Current Regulatory Liabilities		24.2		16.7		2.7
Noncurrent:
Deferred taxes due to customers		138.3		161.1		152.6
Pension and postretirement benefit costs		79.4		—		—
Accrued cost of removal		26.8		39.8		48.7
Unamortized purchased gas adjustments		75.7		4.7		50.3
Other		24.9		69.3		20.9
Total Noncurrent Regulatory Liabilities		345.1		274.9		272.5
Total Regulatory Liabilities	$	369.3	$	291.6	$	275.2

	March 31,		September 30,		March 31,
Spire Alabama	2019		2018		2018
Regulatory Assets:
Current:
Pension and postretirement benefit costs	$	7.3	$	7.3	$	7.1
Unamortized purchased gas adjustments		18.0		6.4		19.0
Other		5.1		12.5		6.0
Total Current Regulatory Assets		30.4		26.2		32.1
Noncurrent:
Pension and postretirement benefit costs		61.1		64.8		71.2
Cost of removal		134.6		133.4		125.0
Other		3.2		3.3		2.7
Total Noncurrent Regulatory Assets		198.9		201.5		198.9
Total Regulatory Assets	$	229.3	$	227.7	$	231.0
Regulatory Liabilities:
Current:
Pension and postretirement benefit costs	$	2.2	$	2.2	$	2.2
Other		3.9		5.4		8.6
Total Current Regulatory Liabilities		6.1		7.6		10.8
Noncurrent:
Pension and postretirement benefit costs		26.5		27.8		30.8
Other		4.0		3.5		4.2
Total Noncurrent Regulatory Liabilities		30.5		31.3		35.0
Total Regulatory Liabilities	$	36.6	$	38.9	$	45.8

A portion of the Company’s and Spire Missouri’s regulatory assets are not earning a return, as shown in the table below:

Like all the Company’s regulatory assets, these regulatory assets are expected to be recovered from customers in future rates. The recovery period for the future income taxes due from customers and pension and other postretirement benefit costs could be 20 years or longer, based on current Internal Revenue Service (“IRS”) guidelines and average remaining service life of active participants, respectively. The other items not earning a return are expected to be recovered over a period not to exceed 15 years, consistent with precedent set by the MoPSC. Spire Alabama does not have any regulatory assets that are not earning a return.

On March 7, 2018, the MoPSC issued its order in two general rate cases, approving new tariffs that became effective on April 19, 2018. On April 25, 2018, Spire Missouri filed an appeal of the MoPSC’s order related to the disallowance of certain pension costs incurred prior to 1997 ($28.8), real estate sold in 2014 ($1.8), and rate case expenses ($0.9) to Missouri’s Southern District Court of Appeals. On March 15, 2019, the appeal was denied by the Southern District, and Spire Missouri has requested review by the Missouri Supreme Court.

In September 2016 and February 2017, Spire Missouri filed Infrastructure System Replacement Surcharge (“ISRS”) cases for both Spire Missouri East and Spire Missouri West (the “2016/2017 ISRS Cases”). The Missouri Office of the Public Counsel (“OPC”) appealed the MoPSC’s decisions approving these cases to Missouri’s Western District Court of Appeals, arguing that they contained ISRS-ineligible costs. In November 2017, the appellate court reversed the MoPSC’s decision in the 2016/2017 ISRS Cases and remanded the case back to the MoPSC. In June 2018, Spire Missouri filed to establish new ISRS rates in both its East and West divisions (the “2018 ISRS Cases”). In September 2018, the MoPSC issued a report and order finding that Spire Missouri’s ISRS petitions in the 2016/2017 ISRS Cases contained ISRS costs related to the replacement of plastic pipe components that should be removed from the requested revenue requirement; however, the MoPSC ordered that no adjustment to Spire Missouri’s revenues was necessary as the ISRS revenues approved in these cases had been rebased as part of its last general rate cases. Also in September 2018, the MoPSC issued a report and order in the 2018 ISRS Cases stating additional evidence was required to support all investments included in the Spire Missouri’s applications in order to support the recovery of costs related to the replacement of plastic pipe components and approved rates in the 2018 ISRS Cases providing annual revenues of $2.6 for Spire Missouri East and $5.4 for Spire Missouri West. Spire is appealing the removal of costs related to plastic in all cases in the Western District Court. On January 14, 2019, Spire Missouri refiled requests with additional information for approximately $3.2 of the ISRS revenues that were removed by the MoPSC in the 2018 ISRS Cases and filed new ISRS applications for both its East and West service territories. After updating the pro-forma months of December 2018 and January 2019, Spire Missouri is requesting approval of ISRS revenues of $7.4 for Spire Missouri East and $7.4 for Spire Missouri West related to investments made from July 1, 2018, through January 31, 2019. Evidentiary hearings were held in the 2019 cases in April 2019, and Spire Missouri expects an order from the MoPSC prior to the effective date. Per Missouri statute, new rates must become effective within 120 days of the application, or by May 14, 2019.

As part of the annual update for Rate Stabilization and Equalization (“RSE”), on November 30, 2018, Spire Alabama filed an increase for rate year 2019 of $8.7, which became effective December 1, 2018. There was no RSE reduction for the January 31, 2019 quarterly point of test. At March 31, 2019, an estimated RSE reduction for the April 30, 2019 quarterly point of test of $3.3 was recorded to bring the expected rate of return on average common equity at the end of the year to within the allowed rate of return.

On January 25, 2019, the Federal Energy Regulatory Commission (“FERC”) approved the Company’s application to combine its two adjacent natural gas storage facilities in Wyoming into one FERC certificate with a market-based tariff. On February 13, 2019, Spire Storage filed a prior notice request pursuant to the FERC’s regulations and Spire Storage’s blanket certificate authority proposing to construct and operate 10.1 miles of dual 20-inch-diameter pipeline, one new pipeline interconnection with measurement equipment, and related facilities in Uinta County, Wyoming. If authorized by the FERC, the pipeline, interconnection and measurement facilities, will allow Spire Storage to enhance the link between its two storage facilities, provide new, bi-directional access to Kern River Gas Transmission Company’s mainline and afford enhanced access with other interstate pipelines. On April 26, 2019, FERC staff filed a protest stating that Spire Storage did not provide documentation of the project’s compliance with the National Historic Preservation Act. Under the FERC’s regulations, a protested prior notice filing will be treated like a traditional application under Section 7 of the Natural Gas Act unless the protest is withdrawn within 30 days from the date upon which protests are due.

Under the terms of the January 2017 Precedent Agreement between Spire STL Pipeline and Spire Missouri, if Spire STL Pipeline files with FERC to increase its initial recourse rate at any time before the pipeline’s in-service date, and if FERC approves such request in whole or in part, then Spire Missouri’s negotiated rate will automatically increase by the same percentage increase to the initial recourse rate, up to a maximum increase of two cents per dekatherm per day.