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INFORMATION BY OPERATING SEGMENT
 12 Months Ended
Sep. 30, 2013
Segment Reporting [Abstract]  
INFORMATION BY OPERATING SEGMENT
INFORMATION BY OPERATING SEGMENT

All of Laclede Group’s subsidiaries are wholly owned. In the first quarter of fiscal year 2013, the Company retitled its segment names. The Gas Utility segment, previously titled Regulated Gas Distribution, consists of the regulated operations of the Utility and is the core business segment of Laclede Group. The Utility is a public utility engaged in the retail distribution and sale of natural gas serving an area in eastern Missouri, including the City of St. Louis, through Laclede Gas and an area in western Missouri, including Kansas City, through MGE. The Gas Marketing segment, previously titled Non-Regulated Gas Marketing, 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 became operational in January 2012 and utilizes natural gas storage contracts for providing natural gas sales. Other includes Laclede Pipeline Company’s transportation of liquid propane regulated by the Federal Energy Regulatory Commission (FERC) as well as non-regulated activities, including, among other activities, real estate development, the compression of natural gas, and financial investments in other enterprises. These operations are conducted through seven subsidiaries. Other also includes the Utility’s non-regulated business activities, which are comprised of its propane storage and related services. Beginning July 1, 2013, propane-related services were included within Gas Utility operations pursuant to Laclede Gas' most recent rate case. Accounting policies are described in Note 1, Summary of Significant Accounting Policies. Intersegment transactions include sales of natural gas from the Utility to LER, propane storage services provided by the Utility to Laclede Pipeline Company, sales of natural gas from LER to the Utility, and propane transportation services provided by Laclede Pipeline Company to the Utility.
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 excludes the after-tax impacts related to acquisition, divestiture, and restructuring activities.
 
Gas Utility
 
Gas Marketing
 
Other
 
Eliminations
 
Consolidated
(Thousands)
 
 
 
 
Fiscal 2013
 

 
 

 
 

 
 

 
 

Revenues from external customers
$
847,224

 
$
165,146

 
$
4,649

 
$
—

 
$
1,017,019

Intersegment revenues
10,538

 
24,185

 
1,625

 
(36,348
)
 
—

Total Operating Revenues
857,762

 
189,331

 
6,274

 
(36,348
)
 
1,017,019

Operating Expenses
 
 
 
 
 
 
 
 
 
Gas Utility
 
 
 
 
 
 
 
 
 
Natural and Propane Gas
469,098

 
—

 
—

 
(35,656
)
 
433,442

Other Operation and Maintenance
180,702

 
—

 
—

 
(360
)
 
180,342

Depreciation and Amortization
48,283

 
—

 
—

 
—

 
48,283

Taxes, Other than Income Taxes
60,079

 
—

 
—

 
—

 
60,079

Total Gas Utility Operating Expenses
758,162

 
—

 
—

 
(36,016
)
 
722,146

Gas Marketing
—

 
176,554

(a)
—

 
—

 
176,554

Other
—

 
—

 
22,157

(b)
(332
)
 
21,825

Total Operating Expenses
758,162

 
176,554

 
22,157

 
(36,348
)
 
920,525

Operating Income
99,599

 
12,777

 
(15,882
)
 
—

 
96,494

Interest income
947

 
103

 
343

 
(305
)
 
1,088

Interest charges
26,137

 
135

 
2,635

 
(305
)
 
28,602

Income tax expense
19,243

 
5,162

 
(6,827
)
 
—

 
17,578

Net economic earnings
56,635

 
8,936

 
(559
)
 
—

 
65,012

Total assets
2,981,016

 
163,944

 
115,560

 
(135,134
)
 
3,125,386

Capital expenditures
128,496

 
44

 
2,248

 
—

 
130,788

Fiscal 2012
 
 
 
 
 
 
 

 
 
Revenues from external customers
$
763,447

 
$
358,145

 
$
3,883

 
$
—

 
$
1,125,475

Intersegment revenues
1,204

 
15,330

 
1,042

 
(17,576
)
 
—

Total Operating Revenues
764,651

 
373,475

 
4,925

 
(17,576
)
 
1,125,475

Operating Expenses
 
 
 
 
 
 
 
 
 
Gas Utility
 
 
 
 
 
 
 
 
 
Natural and Propane Gas
414,846

 
—

 
—

 
(17,542
)
 
397,304

Other Operation and Maintenance
167,351

 
—

 
—

 
—

 
167,351

Depreciation and Amortization
40,739

 
—

 
—

 
—

 
40,739

Taxes, Other than Income Taxes
53,672

 
—

 
—

 
—

 
$
53,672

Total Gas Utility Operating Expenses
676,608

 
—

 
—

 
(17,542
)
 
659,066

Gas Marketing
—

 
353,286

(a)
—

 
(3
)
 
353,283

Other
—

 
—

 
2,555

(b)
(31
)
 
2,524

Total Operating Expenses
676,608

 
353,286

 
2,555

 
(17,576
)
 
1,014,873

Operating Income
88,043

 
20,189

 
2,370

 
—

 
110,602

Interest income
1,230

 
175

 
371

 
(467
)
 
1,309

Interest charges
25,156

 
81

 
175

 
(467
)
 
24,945

Income tax expense
17,393

 
7,966

 
930

 
—

 
26,289

Net economic earnings
48,089

 
12,273

 
2,250

 
—

 
62,612

Total assets
1,758,952

 
190,709

 
102,241

 
(171,640
)
 
1,880,262

Capital expenditures
106,734

 
140

 
1,969

 
—

 
108,843

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fiscal 2011
 
 
 
 
 
 
 

 
 
Revenues from external customers
$
911,614

 
$
645,042

 
$
19,704

 
$
—

 
1,576,360

Intersegment revenues
1,576

 
24,333

 
1,038

 
—

 
26,947

Total Operating Revenues
913,190

 
669,375

 
20,742

 
—

 
1,603,307

Operating Expenses
 
 
 
 
 
 
 
 
 
Gas Utility
 
 
 
 
 
 
 
 
 
Natural and Propane Gas
549,947

 
—

 
—

 
—

 
549,947

Other Operation and Maintenance
172,938

 
—

 
—

 
—

 
172,938

Depreciation and Amortization
39,214

 
—

 
—

 
—

 
$
39,214

Taxes, Other than Income Taxes
60,752

 
—

 
—

 
—

 
60,752

Total Gas Utility Operating Expenses
822,851

 
—

 
—

 
—

 
$
822,851

Gas Marketing
—

 
652,567

(a)
—

 
—

 
652,567

Other
—

 
—

 
9,642

(b)
—

 
9,642

Total Operating Expenses
822,851

 
652,567

 
9,642

 
—

 
1,485,060

Operating Income
90,339

 
16,808

 
11,100

 
—

 
118,247

Interest income
1,057

 
165

 
217

 
(303
)
 
1,136

Interest charges
25,544

 
14

 
162

 
(303
)
 
25,417

Income tax expense
18,694

 
6,570

 
3,918

 
—

 
29,182

Net economic earnings
46,952

 
8,962

 
6,496

(c)
—

 
62,410

Total assets
1,641,386

 
175,352

 
129,176

 
(162,832
)
 
1,783,082

Capital expenditures
67,304

 
215

 
119

 
—

 
67,638


(a)
Depreciation and amortization for Gas Marketing is included in Gas Marketing Expenses on the Statements of Consolidated Income ($0.3 million for fiscal year 2013, $0.3 million for fiscal year 2012, and $0.1 million for fiscal year 2011).
(b)
Depreciation, amortization, and accretion for Other is included in the Other Operating Expenses on the Statements of Consolidated Income ($0.6 million for fiscal year 2013, $0.3 million for fiscal year 2012 and $0.2 million for fiscal year 2011).
(c)
Net economic earnings include income realized by the Utility from separate non-regulated sales of propane inventory no longer needed to serve utility customers, of which occurred in fiscal year 2011. This transaction resulted in after-tax earnings totaling $6.1 million.
Reconciliation of Consolidated Net Income to Consolidated Net Economic Earnings
(Thousands)
2013
 
2012
 
2011
Net Income (GAAP)
$
52,758

 
$
62,640

 
$
63,825

Unrealized loss (gain) on energy-related
     derivatives
614

 
(314
)
 
(1,415
)
Lower of cost or market inventory adjustments
868

 
—

 
—

Realized (gain) loss on economic hedges prior
     to the sale of the physical commodity
(25
)
 
163

 
—

Acquisition, divestiture and restructuring activities
10,797

 
123

 
—

Net Economic Earnings (Non-GAAP)
$
65,012

 
$
62,612

 
$
62,410