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INFORMATION BY OPERATING SEGMENT | 12 Months Ended
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Sep. 30, 2014
Segment Reporting [Abstract] |
INFORMATION BY OPERATING SEGMENT | INFORMATION BY OPERATING SEGMENT Laclede Group All of Laclede Group’s subsidiaries are 100% owned. In the first quarter of fiscal year 2013, the Company retitled its segment names. The Gas Utility segment consists of the regulated operations of the Company and is the core business segment of Laclede Group. The Gas Utility segment consists of Laclede Gas and Alagasco. Laclede Gas and Alagasco are public utilities engaged in the retail distribution and sale of natural gas serving an area in eastern Missouri through Laclede Gas, an area in western Missouri, through MGE (collectively, the Missouri Utility) and central and north Alabama through Alagasco (the Alabama Utility) (collectively, the Utilities). The Gas Marketing segment includes the results of Laclede Energy Resources, Inc. (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 (Spire), and financial investments in other enterprises. Other also includes Laclede's Gas' 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 Laclede Gas to LER, propane storage services provided by Laclede Gas to Laclede Pipeline Company, sales of natural gas from LER to Laclede Gas, and propane transportation services provided by Laclede Pipeline Company to Laclede Gas. 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
($ Millions) |  |  |  |
Fiscal 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from external customers | $ | 1,462.6 |  |  | $ | 162.6 |  |  | $ | 2.0 |  |  | $ | — |  |  | $ | 1,627.2 |
Intersegment revenues | 5.2 |  |  | 84.0 |  |  | 1.8 |  |  | (91.0 | ) |  | — |
Total Operating Revenues | 1,467.8 |  |  | 246.6 |  |  | 3.8 |  |  | (91.0 | ) |  | 1,627.2 |
Operating Expenses |  |  |  |  |  |  |  |  |
Gas Utility |  |  |  |  |  |  |  |  |
Natural and Propane Gas | 821.8 |  |  | — |  |  | — |  |  | (90.1 | ) |  | 731.7 |
Other Operation and Maintenance | 288.7 |  |  | — |  |  | — |  |  | (0.9 | ) |  | 287.8 |
Depreciation and Amortization | 82.4 |  |  | — |  |  | — |  |  | — |  |  | 82.4 |
Taxes, Other than Income Taxes | 112.0 |  |  | — |  |  | — |  |  | — |  |  | 112.0 |
Total Gas Utility Operating Expenses | 1,304.9 |  |  | — |  |  | — |  |  | (91.0 | ) |  | 1,213.9 |
Gas Marketing | — |  |  | 226.4 |  | (a) |  |  |  | — |  |  | 226.4 |
Other | — |  |  | — |  |  | 20.5 |  | (b) | — |  |  | 20.5 |
Total Operating Expenses | 1,304.9 |  |  | 226.4 |  |  | 20.5 |  |  | (91.0 | ) |  | 1,460.8 |
Operating Income | 162.9 |  |  | 20.2 |  |  | (16.7 | ) |  | — |  |  | 166.4 |
Net economic earnings | 92.8 |  |  | 10.2 |  |  | (2.9 | ) |  | — |  |  | 100.1 |
Capital expenditures | 168.6 |  |  | — |  |  | 2.4 |  |  | — |  |  | 171.0 |
Fiscal 2013 |  |  |  |  |  |  |  |  |  |
Revenues from external customers | $ | 847.2 |  |  | $ | 165.1 |  |  | $ | 4.7 |  |  | $ | — |  |  | $ | 1,017.0 |
Intersegment revenues | 10.6 |  |  | 24.3 |  |  | 1.5 |  |  | (36.4 | ) |  | — |
Total Operating Revenues | 857.8 |  |  | 189.4 |  |  | 6.2 |  |  | (36.4 | ) |  | 1,017.0 |
Operating Expenses |  |  |  |  |  |  |  |  |
Gas Utility |  |  |  |  |  |  |  |  |
Natural and Propane Gas | 469.1 |  |  | — |  |  | — |  |  | (35.7 | ) |  | 433.4 |
Other Operation and Maintenance | 180.7 |  |  | — |  |  | — |  |  | (0.4 | ) |  | 180.3 |
Depreciation and Amortization | 48.3 |  |  | — |  |  | — |  |  | — |  |  | 48.3 |
Taxes, Other than Income Taxes | 60.1 |  |  | — |  |  | — |  |  | — |  |  | 60.1 |
Total Gas Utility Operating Expenses | 758.2 |  |  | — |  |  | — |  |  | (36.1 | ) |  | 722.1 |
Gas Marketing | — |  |  | 176.6 |  | (a) | — |  |  | — |  |  | 176.6 |
Other | — |  |  | — |  |  | 22.1 |  | (b) | (0.3 | ) |  | 21.8 |
Total Operating Expenses | 758.2 |  |  | 176.6 |  |  | 22.1 |  |  | (36.4 | ) |  | 920.5 |
Operating Income | 99.6 |  |  | 12.8 |  |  | (15.9 | ) |  | — |  |  | 96.5 |
Net economic earnings | 56.6 |  |  | 8.9 |  |  | (0.5 | ) |  | — |  |  | 65.0 |
Capital Expenditures | 128.5 |  |  | — |  |  | 2.3 |  |  | — |  |  | 130.8 |
| Gas Utility |  | Gas Marketing |  | Other |  | Eliminations |  | Consolidated
($ Millions) |  |  |  |
Fiscal 2012 |  |  |  |  |  |  |  |  |  |
Revenues from external customers | $ | 763.5 |  |  | $ | 358.1 |  |  | $ | 3.9 |  |  | $ | — |  |  | $ | 1,125.5 |
Intersegment revenues | 1.2 |  |  | 15.4 |  |  | 1.0 |  |  | (17.6 | ) |  | — |
Total Operating Revenues | 764.7 |  |  | 373.5 |  |  | 4.9 |  |  | (17.6 | ) |  | 1,125.5 |
Operating Expenses |  |  |  |  |  |  |  |  |
Gas Utility |  |  |  |  |  |  |  |  |
Natural and Propane Gas | 414.8 |  |  | — |  |  | — |  |  | (17.5 | ) |  | 397.3 |
Other Operation and Maintenance | 167.4 |  |  | — |  |  | — |  |  | — |  |  | 167.4 |
Depreciation and Amortization | 40.7 |  |  | — |  |  | — |  |  | — |  |  | 40.7 |
Taxes, Other than Income Taxes | 53.7 |  |  | — |  |  | — |  |  | — |  |  | 53.7 |
Total Gas Utility Operating Expenses | 676.6 |  |  | — |  |  | — |  |  | (17.5 | ) |  | 659.1 |
Gas Marketing | — |  |  | 353.3 |  | (a) | — |  |  | — |  |  | 353.3 |
Other | — |  |  | — |  |  | 2.6 |  | (b) | (0.1 | ) |  | 2.5 |
Total Operating Expenses | 676.6 |  |  | 353.3 |  |  | 2.6 |  |  | (17.6 | ) |  | 1,014.9 |
Operating Income | 88.1 |  |  | 20.2 |  |  | 2.3 |  |  | — |  |  | 110.6 |
Net economic earnings | 48.1 |  |  | 12.3 |  |  | 2.2 |  |  | — |  |  | 62.6 |
Capital expenditures | 106.7 |  |  | 0.1 |  |  | 2.0 |  |  | — |  |  | 108.8 |
(a) | Depreciation and amortization for Gas Marketing are included in Gas Marketing Expenses on the Statements of Consolidated Income ($0.4 for fiscal year 2014, $0.3 for fiscal year 2013, and $0.3 for fiscal year 2012).
(b) | Depreciation, amortization, and accretion for Other is included in the Other Operating Expenses on the Statements of Consolidated Income ($0.5 for fiscal year 2014, $0.6 for fiscal year 2013 and $0.3 for fiscal year 2012).
Total Assets
($ Millions) | 2014 |  | 2013 |  | 2012
Gas Utility | $ | 4,520.0 |  |  | $ | 2,981.0 |  |  | $ | 1,759.0 |
Gas Marketing | 156.7 |  |  | 163.9 |  |  | 190.7 |
Other | 1,575.7 |  |  | 115.6 |  |  | 102.2 |
Eliminations | (1,178.4 | ) |  | (135.1 | ) |  | (171.6 | )
Total Assets | $ | 5,074.0 |  |  | $ | 3,125.4 |  |  | $ | 1,880.3 |
Reconciliation of Consolidated Net Income to Consolidated Net Economic Earnings
($ Millions) | 2014 |  | 2013 |  | 2012
Net Income (GAAP) | $ | 84.6 |  |  | $ | 52.8 |  |  | $ | 62.6 |
Unrealized loss (gain) on energy-related derivatives | (0.9 | ) |  | 0.5 |  |  | (0.3 | )
Lower of cost or market inventory adjustments | (0.7 | ) |  | 0.9 |  |  | — |
Realized (gain) loss on economic hedges prior to the sale of the physical commodity | (0.2 | ) |  | — |  |  | 0.2 |
Acquisition, divestiture and restructuring activities | 17.3 |  |  | 10.8 |  |  | 0.1 |
Net Economic Earnings (Non-GAAP) | $ | 100.1 |  |  | $ | 65.0 |  |  | $ | 62.6 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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