Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Dec. 31, 2015 | Jan. 31, 2016 | |
Entity Information [Line Items] | ||
Entity Registrant Name | LACLEDE GROUP INC | |
Entity Central Index Key | 1,126,956 | |
Current Fiscal Year End Date | --09-30 | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 43,424,462 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Dec. 31, 2015 | |
Laclede Gas | ||
Entity Information [Line Items] | ||
Entity Registrant Name | LACLEDE GAS CO | |
Entity Central Index Key | 57,183 | |
Current Fiscal Year End Date | --09-30 | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 24,577 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Dec. 31, 2015 | |
Alagasco | ||
Entity Information [Line Items] | ||
Entity Registrant Name | ALABAMA GAS CORP | |
Entity Central Index Key | 3,146 | |
Current Fiscal Year End Date | --09-30 | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 1,972,052 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Dec. 31, 2015 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Operating Revenues: | ||
Gas Utility | $ 398.8 | $ 581.4 |
Gas Marketing and other | 0.6 | 38.2 |
Total Operating Revenues | 399.4 | 619.6 |
Gas Utility | ||
Natural and propane gas | 148.5 | 304.3 |
Other operation and maintenance expenses | 91.6 | 97.1 |
Depreciation and amortization | 33.5 | 32 |
Taxes, other than income taxes | 28.2 | 38 |
Total Gas Utility Operating Expenses | 301.8 | 471.4 |
Gas Marketing and other | 10.6 | 60.9 |
Total Operating Expenses | 312.4 | 532.3 |
Operating Income | 87 | 87.3 |
Other Income | 1.4 | 1.4 |
Interest Charges: | ||
Interest on long-term debt | 16.9 | 17.2 |
Other interest charges | 2.1 | 2 |
Total Interest Charges | 19 | 19.2 |
Income Before Income Taxes | 69.4 | 69.5 |
Income Tax Expense | 22.5 | 22.4 |
Net Income | $ 46.9 | $ 47.1 |
Weighted Average Number of Common Shares Outstanding: | ||
Basic (in shares) | 43.2 | 43.1 |
Diluted (in shares) | 43.4 | 43.2 |
Basic Earnings Per Share of Common Stock (in dollars per share) | $ 1.08 | $ 1.09 |
Diluted Earnings Per Share of Common Stock (in dollars per share) | 1.08 | 1.09 |
Dividends Declared Per Share of Common Stock (in dollars per share) | $ 0.49 | $ 0.46 |
Laclede Gas | ||
Operating Revenues: | ||
Gas Utility | $ 317.2 | $ 462.4 |
Total Operating Revenues | 317.2 | 462.4 |
Gas Utility | ||
Natural and propane gas | 149.8 | 283.4 |
Other operation and maintenance expenses | 58.8 | 64.8 |
Depreciation and amortization | 21.8 | 20.2 |
Taxes, other than income taxes | 21.7 | 29.2 |
Total Gas Utility Operating Expenses | 252.1 | 397.6 |
Operating Income | 65.1 | 64.8 |
Other Income | 0.8 | 0.9 |
Interest Charges: | ||
Interest on long-term debt | 8.4 | 8.3 |
Other interest charges | 0.9 | 1 |
Total Interest Charges | 9.3 | 9.3 |
Income Before Income Taxes | 56.6 | 56.4 |
Income Tax Expense | 17.2 | 17.4 |
Net Income | 39.4 | 39 |
Alagasco | ||
Operating Revenues: | ||
Gas Utility | 82.3 | 120 |
Total Operating Revenues | 82.3 | 120 |
Gas Utility | ||
Natural and propane gas | 12.1 | 46.4 |
Other operation and maintenance expenses | 33.1 | 32.6 |
Depreciation and amortization | 11.7 | 11.8 |
Taxes, other than income taxes | 6.5 | 8.8 |
Total Operating Expenses | 63.4 | 99.6 |
Operating Income | 18.9 | 20.4 |
Other Income | 0.5 | 0.4 |
Interest Charges: | ||
Interest on long-term debt | 3 | 3.2 |
Other interest charges | 0.5 | 0.6 |
Total Interest Charges | 3.5 | 3.8 |
Income Before Income Taxes | 15.9 | 17 |
Income Tax Expense | 6 | 6.4 |
Net Income | $ 9.9 | $ 10.6 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Net Income | $ 46.9 | $ 47.1 |
Cash flow hedging derivative instruments: | ||
Net hedging losses arising during the period | (0.7) | (5.9) |
Reclassification adjustment for losses (gains) included in net income | 1.2 | (0.1) |
Net unrealized gains (losses) on cash flow hedging derivative instruments | 0.5 | (6) |
Net defined benefit pension and other postretirement plans | 0.1 | 0.1 |
Net unrealized losses on available for sale securities | (0.1) | 0 |
Other Comprehensive Income (Loss), Before Tax | 0.5 | (5.9) |
Income Tax Expense (Benefit) Related to Items of Other Comprehensive Income | 0.2 | (2.2) |
Other Comprehensive Income (Loss), Net of Tax | 0.3 | (3.7) |
Comprehensive Income | 47.2 | 43.4 |
Laclede Gas | ||
Net Income | 39.4 | 39 |
Cash flow hedging derivative instruments: | ||
Net hedging losses arising during the period | (0.1) | (1.4) |
Reclassification adjustment for losses (gains) included in net income | 0.3 | 0.1 |
Net unrealized gains (losses) on cash flow hedging derivative instruments | 0.2 | (1.3) |
Net defined benefit pension and other postretirement plans | 0.1 | 0.1 |
Net unrealized losses on available for sale securities | (0.1) | 0 |
Other Comprehensive Income (Loss), Before Tax | 0.2 | (1.2) |
Income Tax Expense (Benefit) Related to Items of Other Comprehensive Income | 0.1 | (0.4) |
Other Comprehensive Income (Loss), Net of Tax | 0.1 | (0.8) |
Comprehensive Income | $ 39.5 | $ 38.2 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 |
ASSETS | |||
Utility Plant | $ 4,220.6 | $ 4,234.5 | $ 3,979.7 |
Less: Accumulated depreciation and amortization | 1,267.3 | 1,307 | 1,195.3 |
Net Utility Plant | 2,953.3 | 2,927.5 | 2,784.4 |
Non-utility Property (net of accumulated depreciation and amortization of $7.7, $7.5 and $6.9 at December 31, 2015, September 30, 2015, and December 31, 2014, respectively) | 13.9 | 13.7 | 9.5 |
Goodwill | 946 | 946 | 937.8 |
Other Property and Investments | 60.8 | 59.9 | 60.9 |
Total Other Property and Investments | 1,020.7 | 1,019.6 | 1,008.2 |
Current Assets: | |||
Cash and cash equivalents | 4.6 | 13.8 | 13.4 |
Accounts receivable: | |||
Utility | 224.7 | 138.1 | 355.4 |
Other | 85.5 | 86.7 | 76.6 |
Allowance for doubtful accounts | (12.7) | (14.2) | (12) |
Delayed customer billings | 8.7 | 2.6 | 14.6 |
Inventories: | |||
Natural gas | 176.6 | 188.6 | 219.5 |
Propane gas | 12 | 12 | 11.9 |
Materials and supplies | 14.9 | 14.8 | 14.1 |
Natural gas receivable | 20.1 | 17.3 | 11.1 |
Derivative instrument assets | 4.3 | 4.6 | 4 |
Unamortized purchased gas adjustments | 44.6 | 12.9 | 60.6 |
Regulatory assets | 31.7 | 27.6 | 26.6 |
Prepayments and other | 21 | 25.3 | 20.3 |
Total Current Assets | 636 | 530.1 | 816.1 |
Deferred Charges: | |||
Regulatory assets | 727 | 737.6 | 615.8 |
Other | 74.4 | 75.4 | 64 |
Total Deferred Charges | 801.4 | 813 | 679.8 |
Total Assets | 5,411.4 | 5,290.2 | 5,288.5 |
Capitalization: | |||
Common stock | 43.4 | 43.3 | 43.3 |
Paid-in capital | 1,038.7 | 1,038.1 | 1,031 |
Retained earnings | 519.9 | 494.2 | 464.6 |
Accumulated other comprehensive loss | (1.7) | (2) | (5.4) |
Total Common Stock Equity | 1,600.3 | 1,573.6 | 1,533.5 |
Long-term debt (less current portion) | 1,851.5 | 1,771.5 | 1,736.3 |
Total Capitalization | 3,451.8 | 3,345.1 | 3,269.8 |
Current Liabilities: | |||
Current portion of long-term debt | 0 | 80 | 114.7 |
Notes payable | 377.1 | 338 | 397.5 |
Accounts payable | 159.5 | 146.5 | 221.1 |
Advance customer billings | 59.3 | 44.3 | 30.9 |
Wages and compensation accrued | 25.4 | 32.7 | 24.7 |
Dividends payable | 22.3 | 21.1 | 20.9 |
Customer deposits | 33 | 32.1 | 35.8 |
Interest accrued | 19.5 | 14.3 | 19.9 |
Unamortized purchased gas adjustments | 14.3 | 28.2 | 22.1 |
Taxes accrued | 32.9 | 51.7 | 50.8 |
Deferred income taxes | 7.4 | 0 | 21.1 |
Regulatory liabilities | 41.5 | 32.4 | 53.8 |
Other | 55.3 | 32.5 | 69 |
Total Current Liabilities | 847.5 | 853.8 | 1,082.3 |
Deferred Credits and Other Liabilities: | |||
Deferred income taxes | 495.3 | 482.1 | 394.6 |
Pension and postretirement benefit costs | 250.7 | 253.4 | 241.7 |
Asset retirement obligations | 161 | 159.2 | 100.3 |
Regulatory liabilities | 129.1 | 119.3 | 122.9 |
Other | 76 | 77.3 | 76.9 |
Total Deferred Credits and Other Liabilities | $ 1,112.1 | $ 1,091.3 | $ 936.4 |
Commitments and Contingencies | |||
Total Capitalization and Liabilities | $ 5,411.4 | $ 5,290.2 | $ 5,288.5 |
Laclede Gas | |||
ASSETS | |||
Utility Plant | 2,580.6 | 2,579.1 | 2,439.5 |
Less: Accumulated depreciation and amortization | 573.1 | 590 | 558.2 |
Net Utility Plant | 2,007.5 | 1,989.1 | 1,881.3 |
Goodwill | 210.2 | 210.2 | 210.2 |
Other Property and Investments | 56 | 55.3 | 56.6 |
Total Other Property and Investments | 266.2 | 265.5 | 266.8 |
Current Assets: | |||
Cash and cash equivalents | 1.3 | 1.7 | 5.9 |
Accounts receivable: | |||
Utility | 167.3 | 103.4 | 262 |
Other | 24.6 | 25.2 | 19.4 |
Allowance for doubtful accounts | (8.7) | (10) | (7.7) |
Receivables from associated companies | 4.6 | 2.5 | 4 |
Delayed customer billings | 8.7 | 2.6 | 14.6 |
Inventories: | |||
Natural gas | 125.5 | 138.2 | 167.5 |
Propane gas | 12 | 12 | 12 |
Materials and supplies | 9.3 | 9.3 | 9 |
Unamortized purchased gas adjustments | 44.6 | 12.9 | 60.6 |
Deferred income taxes | 20.9 | 16.2 | 18 |
Prepayments and other | 12.8 | 12.5 | 14.4 |
Total Current Assets | 422.9 | 326.5 | 579.7 |
Deferred Charges: | |||
Regulatory assets | 563.9 | 573.6 | 526.9 |
Other | 11 | 12.8 | 8.7 |
Total Deferred Charges | 574.9 | 586.4 | 535.6 |
Total Assets | 3,271.5 | 3,167.5 | 3,263.4 |
Capitalization: | |||
Paid-in capital and common stock | 749.5 | 748.3 | 745.4 |
Retained earnings | 309.4 | 291.2 | 284.7 |
Accumulated other comprehensive loss | (1.6) | (1.7) | (2.7) |
Total Common Stock Equity | 1,057.3 | 1,037.8 | 1,027.4 |
Long-term debt (less current portion) | 808.2 | 808.1 | 808 |
Total Capitalization | 1,865.5 | 1,845.9 | 1,835.4 |
Current Liabilities: | |||
Notes payable | 274.1 | 233 | 319.5 |
Accounts payable | 64.6 | 61.5 | 107.3 |
Accounts payable – associated companies | 4.5 | 5.5 | 9.8 |
Advance customer billings | 36.8 | 25.2 | 13.2 |
Wages and compensation accrued | 19.7 | 26.8 | 19.5 |
Dividends payable | 21.2 | 19.9 | 19.9 |
Customer deposits | 13 | 13 | 15.2 |
Interest accrued | 9.4 | 7.6 | 9.7 |
Taxes accrued | 10.2 | 25.4 | 34.5 |
Deferred income taxes | 12.3 | 0 | 20.9 |
Regulatory liabilities | 1.1 | 0.6 | 0.6 |
Other | 37.9 | 18.5 | 51.3 |
Total Current Liabilities | 504.8 | 437 | 621.4 |
Deferred Credits and Other Liabilities: | |||
Deferred income taxes | 493.5 | 485.2 | 406.5 |
Pension and postretirement benefit costs | 204.2 | 207.8 | 211.1 |
Asset retirement obligations | 73.3 | 72.4 | 72.1 |
Regulatory liabilities | 81.4 | 70.6 | 70.9 |
Other | 48.8 | 48.6 | 46 |
Total Deferred Credits and Other Liabilities | $ 901.2 | $ 884.6 | $ 806.6 |
Commitments and Contingencies | |||
Total Capitalization and Liabilities | $ 3,271.5 | $ 3,167.5 | $ 3,263.4 |
Alagasco | |||
ASSETS | |||
Utility Plant | 1,640 | 1,655.4 | 1,540.1 |
Less: Accumulated depreciation and amortization | 694.1 | 717 | 637 |
Net Utility Plant | 945.9 | 938.4 | 903.1 |
Current Assets: | |||
Cash and cash equivalents | 0.1 | 7.2 | 3.3 |
Accounts receivable: | |||
Utility | 57.4 | 34.7 | 93.4 |
Other | 5.9 | 5.2 | 5.8 |
Allowance for doubtful accounts | (4) | (4.2) | (4.3) |
Inventories: | |||
Natural gas | 40 | 40.4 | 43.6 |
Materials and supplies | 5.4 | 5.4 | 5 |
Deferred income taxes | 5.7 | 6.2 | 2.3 |
Regulatory assets | 10.8 | 11.4 | 8.6 |
Prepayments and other | 4.2 | 4.6 | 2.3 |
Total Current Assets | 125.5 | 110.9 | 160 |
Deferred Charges: | |||
Regulatory assets | 162.5 | 163.6 | 88.9 |
Deferred income taxes | 242.8 | 248.4 | 272.9 |
Other | 58.1 | 57.7 | 47.2 |
Total Deferred Charges | 463.4 | 469.7 | 409 |
Total Assets | 1,534.8 | 1,519 | 1,472.1 |
Capitalization: | |||
Paid-in capital and common stock | 471.9 | 480.9 | 503.9 |
Retained earnings | 396.1 | 393.7 | 356.3 |
Total Common Stock Equity | 868 | 874.6 | 860.2 |
Long-term debt (less current portion) | 250 | 170 | 135 |
Total Capitalization | 1,118 | 1,044.6 | 995.2 |
Current Liabilities: | |||
Current portion of long-term debt | 0 | 80 | 114.7 |
Notes payable | 43 | 31 | 21.5 |
Accounts payable | 34.9 | 21.8 | 51.6 |
Accounts payable – associated companies | 1.7 | 0.2 | 1.2 |
Advance customer billings | 22.5 | 19.1 | 17.7 |
Wages and compensation accrued | 5.7 | 5.8 | 5.2 |
Customer deposits | 20 | 19.1 | 20.6 |
Interest accrued | 3.3 | 3.5 | 3.5 |
Unamortized purchased gas adjustments | 14.3 | 28.2 | 22.1 |
Taxes accrued | 22.5 | 26 | 28.4 |
Deferred income taxes | 0 | 0 | 1.6 |
Regulatory liabilities | 40.4 | 31.8 | 53.2 |
Other | 5.1 | 5.4 | 6.8 |
Total Current Liabilities | 213.4 | 271.9 | 348.1 |
Deferred Credits and Other Liabilities: | |||
Pension and postretirement benefit costs | 46.5 | 45.6 | 30.6 |
Asset retirement obligations | 87.5 | 86.6 | 28.1 |
Regulatory liabilities | 47.7 | 48.7 | 51.9 |
Other | 21.7 | 21.6 | 18.2 |
Total Deferred Credits and Other Liabilities | 203.4 | 202.5 | 128.8 |
Total Capitalization and Liabilities | $ 1,534.8 | $ 1,519 | $ 1,472.1 |
CONSOLIDATED BALANCE SHEETS (UN
CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Millions | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 |
Assets | |||
Non-utility property, accumulated depreciation and amortization | $ 7.7 | $ 7.5 | $ 6.9 |
Capitalization: | |||
Common stock, par value (in dollars per share) | $ 1 | $ 1 | $ 1 |
Common stock, authorized (in shares) | 70,000,000 | 70,000,000 | 70,000,000 |
Common stock, issued (in shares) | 43,400,000 | 43,300,000 | 43,300,000 |
Common stock, outstanding (in shares) | 43,400,000 | 43,300,000 | 43,300,000 |
Laclede Gas | |||
Capitalization: | |||
Common stock, par value (in dollars per share) | $ 1 | $ 1 | $ 1 |
Common stock, authorized (in shares) | 50,000 | 50,000 | 50,000 |
Common stock, issued (in shares) | 24,577 | 24,577 | 24,577 |
Common stock, outstanding (in shares) | 24,577 | 24,577 | 24,577 |
Alagasco | |||
Capitalization: | |||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 |
Common stock, authorized (in shares) | 3,000,000 | 3,000,000 | 3,000,000 |
Common stock, issued (in shares) | 2,000,000 | 2,000,000 | 2,000,000 |
Common stock, outstanding (in shares) | 2,000,000 | 2,000,000 | 2,000,000 |
CONSOLIDATED STATEMENTS OF COMM
CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDER'S EQUITY (UNAUDITED) - USD ($) $ in Millions | Total | Common Stock Outstanding | Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Loss | Laclede Gas | Laclede GasCommon Stock Outstanding | Laclede GasPaid-in Capital | Laclede GasRetained Earnings | Laclede GasAccumulated Other Comprehensive Loss | Alagasco | AlagascoCommon Stock Outstanding | AlagascoPaid-in Capital | AlagascoRetained Earnings |
Beginning Balance at Sep. 30, 2014 | $ 1,508.4 | $ 43.2 | $ 1,029.4 | $ 437.5 | $ (1.7) | $ 1,007.8 | $ 0.1 | $ 744 | $ 265.6 | $ (1.9) | $ 849.6 | $ 0 | $ 503.9 | $ 345.7 |
Beginning Balance, (in shares) at Sep. 30, 2014 | 43,178,405 | 24,577 | 1,972,052 | |||||||||||
Stockholders' Equity Rollforward | ||||||||||||||
Net income | 47.1 | 47.1 | 39 | 39 | 10.6 | 10.6 | ||||||||
Dividend reinvestment plan | 0.4 | 0.4 | ||||||||||||
Dividend reinvestment plan (in shares) | 8,199 | |||||||||||||
Stock-based compensation costs | (2) | (2) | 0.9 | 0.9 | ||||||||||
Equity Incentive Plan | 2.8 | $ 0.1 | 2.7 | |||||||||||
Equity Incentive Plan (in shares) | 102,534 | |||||||||||||
Tax benefit – stock compensation | 0.5 | 0.5 | 0.4 | 0.4 | ||||||||||
Dividends declared, common stock | (20) | (20) | (19.9) | (19.9) | ||||||||||
Other comprehensive income, net of tax | (3.7) | (3.7) | (0.8) | (0.8) | ||||||||||
Ending Balance at Dec. 31, 2014 | 1,533.5 | $ 43.3 | 1,031 | 464.6 | (5.4) | 1,027.4 | $ 0.1 | 745.3 | 284.7 | (2.7) | 860.2 | $ 0 | 503.9 | 356.3 |
Ending Balance, (in shares) at Dec. 31, 2014 | 43,289,138 | 24,577 | 1,972,052 | |||||||||||
Beginning Balance at Sep. 30, 2015 | 1,573.6 | $ 43.3 | 1,038.1 | 494.2 | (2) | 1,037.8 | $ 0.1 | 748.2 | 291.2 | (1.7) | 874.6 | $ 0 | 480.9 | 393.7 |
Beginning Balance, (in shares) at Sep. 30, 2015 | 43,335,012 | 24,577 | 1,972,052 | |||||||||||
Stockholders' Equity Rollforward | ||||||||||||||
Net income | 46.9 | 46.9 | 39.4 | 39.4 | 9.9 | 9.9 | ||||||||
Dividend reinvestment plan | 0.3 | 0.3 | ||||||||||||
Dividend reinvestment plan (in shares) | 5,866 | |||||||||||||
Stock-based compensation costs | (2.3) | (2.3) | 1.2 | 1.2 | ||||||||||
Equity Incentive Plan | 2.7 | $ 0.1 | 2.6 | |||||||||||
Equity Incentive Plan (in shares) | 77,223 | |||||||||||||
Return of capital to Laclede Group | (9) | (9) | ||||||||||||
Dividends declared, common stock | (21.2) | (21.2) | (21.2) | (21.2) | (7.5) | (7.5) | ||||||||
Other comprehensive income, net of tax | 0.3 | 0.3 | 0.1 | 0.1 | ||||||||||
Ending Balance at Dec. 31, 2015 | $ 1,600.3 | $ 43.4 | $ 1,038.7 | $ 519.9 | $ (1.7) | $ 1,057.3 | $ 0.1 | $ 749.4 | $ 309.4 | $ (1.6) | $ 868 | $ 0 | $ 471.9 | $ 396.1 |
Ending Balance, (in shares) at Dec. 31, 2015 | 43,418,101 | 24,577 | 1,972,052 |
CONDENSED CONSOLIDATED STATEME7
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Operating Activities: | ||
Net Income | $ 46.9 | $ 47.1 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
Depreciation, amortization, and accretion | 33.7 | 32.3 |
Deferred income taxes and investment tax credits | 22.4 | 13.3 |
Changes in assets and liabilities: | ||
Accounts receivable | (77.6) | (187.4) |
Unamortized purchased gas adjustments | (45.7) | (6.9) |
Deferred purchased gas costs | 12.6 | 0.1 |
Accounts payable | 18 | 49.9 |
Advance customer billings - net | 8.9 | (3.8) |
Taxes accrued | (18.8) | (12.8) |
Inventories | 11.9 | 26 |
Other assets and liabilities | 20.3 | 7.5 |
Other | 0.9 | 0.6 |
Net cash provided by (used in) operating activities | 33.5 | (34.1) |
Investing Activities: | ||
Capital expenditures | (62.4) | (60) |
Other | (0.4) | (0.6) |
Net cash used in investing activities | (62.8) | (60.6) |
Financing Activities: | ||
Issuance of long-term debt | 80 | 0 |
Repayment of long-term debt | (80) | 0 |
Issuance of short-term debt - net | 39.1 | 110.4 |
Issuance of common stock | 1.1 | 1.7 |
Dividends paid | (19.9) | (19) |
Other | (0.2) | (1.1) |
Net cash provided by financing activities | 20.1 | 92 |
Net Decrease in Cash and Cash Equivalents | (9.2) | (2.7) |
Cash and Cash Equivalents at Beginning of Period | 13.8 | 16.1 |
Cash and Cash Equivalents at End of Period | 4.6 | 13.4 |
Supplemental disclosure of cash (paid) refunded for: | ||
Interest | (12.9) | (13.3) |
Income taxes | (0.1) | 7.4 |
Laclede Gas | ||
Operating Activities: | ||
Net Income | 39.4 | 39 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
Depreciation, amortization, and accretion | 21.8 | 20.3 |
Deferred income taxes and investment tax credits | 17.2 | 5.8 |
Changes in assets and liabilities: | ||
Accounts receivable | (66.9) | (146.8) |
Unamortized purchased gas adjustments | (31.8) | (6.7) |
Deferred purchased gas costs | 12.6 | 0.1 |
Accounts payable | 8.6 | 46.9 |
Advance customer billings - net | 5.6 | (6) |
Taxes accrued | (15.2) | (9.3) |
Inventories | 12.6 | 23.7 |
Other assets and liabilities | 17.7 | 17.3 |
Other | 0.3 | 0.1 |
Net cash provided by (used in) operating activities | 21.9 | (15.6) |
Investing Activities: | ||
Capital expenditures | (43.4) | (43.9) |
Other | (0.1) | (0.4) |
Net cash used in investing activities | (43.5) | (44.3) |
Financing Activities: | ||
Issuance of short-term debt - net | 41.1 | 80.8 |
Borrowings from Laclede Group | 0 | 6.4 |
Repayment of borrowings from Laclede Group | 0 | (6.4) |
Dividends paid | (19.9) | (19) |
Other | 0 | 0.3 |
Net cash provided by financing activities | 21.2 | 62.1 |
Net Decrease in Cash and Cash Equivalents | (0.4) | 2.2 |
Cash and Cash Equivalents at Beginning of Period | 1.7 | 3.7 |
Cash and Cash Equivalents at End of Period | 1.3 | 5.9 |
Supplemental disclosure of cash (paid) refunded for: | ||
Interest | (4.1) | (4) |
Income taxes | 0 | 0 |
Alagasco | ||
Operating Activities: | ||
Net Income | 9.9 | 10.6 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
Depreciation, amortization, and accretion | 11.7 | 11.8 |
Deferred income taxes and investment tax credits | 6 | 6.3 |
Changes in assets and liabilities: | ||
Accounts receivable | (14.2) | (41.9) |
Unamortized purchased gas adjustments | (13.9) | (0.3) |
Accounts payable | 13.1 | 17.7 |
Advance customer billings - net | 3.3 | 2.3 |
Taxes accrued | (3.5) | (1.6) |
Inventories | 0.4 | 4.4 |
Other assets and liabilities | 1.5 | (2.5) |
Other | 0.6 | 0.3 |
Net cash provided by (used in) operating activities | 14.9 | 7.1 |
Investing Activities: | ||
Capital expenditures | (18.7) | (15.5) |
Other | (0.3) | (0.2) |
Net cash used in investing activities | (19) | (15.7) |
Financing Activities: | ||
Issuance of long-term debt | 80 | 0 |
Repayment of long-term debt | (80) | 0 |
Issuance of short-term debt - net | 12 | 5.5 |
Return of capital to Laclede Group | (9) | 0 |
Dividends paid | (7.5) | 0 |
Other | 1.5 | 0.8 |
Net cash provided by financing activities | (3) | 6.3 |
Net Decrease in Cash and Cash Equivalents | (7.1) | (2.3) |
Cash and Cash Equivalents at Beginning of Period | 7.2 | 5.6 |
Cash and Cash Equivalents at End of Period | 0.1 | 3.3 |
Supplemental disclosure of cash (paid) refunded for: | ||
Interest | (3.2) | (3.7) |
Income taxes | $ 0 | $ 0 |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION – These notes are an integral part of the accompanying unaudited financial statements of The Laclede Group, Inc. (Laclede Group or the Company), as well as Laclede Gas Company (Laclede Gas or the Missouri Utilities) and Alabama Gas Corporation (Alagasco or the Alabama Utility). Laclede Gas, which includes the operations of Missouri Gas Energy (MGE), and Alagasco are wholly owned subsidiaries of the Company. Collectively, Laclede Gas and Alagasco are referred to as the Utilities. The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the disclosures required for complete financial statements. In the opinion of management, the accompanying unaudited financial statements include all adjustments (consisting of only normal recurring accruals) necessary for the fair presentation of the results of operations for the periods presented. This Form 10-Q should be read in conjunction with the Notes to Financial Statements contained in Laclede Group's, Laclede Gas' and Alagasco's Annual Reports on Form 10-K for the fiscal year ended September 30, 2015 . The consolidated financial position, results of operations, and cash flows of Laclede Group are primarily derived from the financial position, results of operations, and cash flows of the Utilities. In compliance with GAAP, transactions between the Utilities and their affiliates, as well as intercompany balances on the Utilities' balance sheets, have not been eliminated from the Utilities' financial statements. Certain amounts in the prior period have been adjusted to conform with the current period presentation for Laclede Group, Laclede Gas and Alagasco. The Company considered the impact of the adjustments on prior period results and determined that the amounts were not material to those periods. NATURE OF OPERATIONS – Laclede Group, headquartered in St. Louis, Missouri, is a public utility holding company. It has two operating segments: Gas Utility and Gas Marketing. The Gas Utility segment is comprised of the regulated natural gas distribution operations of the Missouri Utilities and the Alabama Utility and serves St. Louis and eastern Missouri, Kansas City and western Missouri, and central and northern Alabama. Laclede Group’s primary non-utility business, Laclede Energy Resources, Inc. (LER), included in the Gas Marketing segment, provides non-regulated natural gas services. The activities of other subsidiaries are described in Note 8 , Information by Operating Segment, and are reported as Other. The Company's earnings are primarily derived from its Gas Utility segment, and due to the seasonal nature of the Utilities, earnings are typically concentrated during the heating season of November through April each fiscal year. As a result, the interim statements of income for Laclede Group, Laclede Gas and Alagasco are not necessarily indicative of annual results or representative of succeeding quarters of the fiscal year. REVENUE RECOGNITION – The Utilities read meters and bill customers on monthly cycles. The Missouri Utilities record their gas utility revenues from gas sales and transportation services on an accrual basis that includes estimated amounts for gas delivered but not yet billed. The accruals for unbilled revenues are reversed in the subsequent accounting period when meters are actually read and customers are billed. The amounts of accrued unbilled revenues for Laclede Gas at December 31, 2015 , September 30, 2015 , and December 31, 2014 were $74.6 , $27.6 , and $102.2 , respectively. Alagasco records natural gas distribution revenues in accordance with the tariff established by the Alabama Public Service Commission (APSC). The amount of accrued unbilled revenues, which is not recorded as revenue until billed, for Alagasco at December 31, 2015 , September 30, 2015 , and December 31, 2014 were $16.4 , $6.4 , and $20.8 , respectively. Laclede Group's other subsidiaries, including LER, record revenues when earned, either when the product is delivered or when services are performed. In the course of its business, LER enters into commitments associated with the purchase or sale of natural gas. Certain of LER’s derivative natural gas contracts are designated as normal purchases or normal sales and, as such, are excluded from the scope of Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 815, “Derivatives and Hedging.” Those contracts are accounted for as executory contracts and recorded on an accrual basis. Revenues and expenses from such contracts are recorded using a gross presentation. Contracts not designated as normal purchases or normal sales are recorded as derivatives with changes in fair value recognized in earnings in the periods prior to physical delivery. Certain of LER’s wholesale purchase and sale transactions are classified as trading activities for financial reporting purposes. Under GAAP, revenues and expenses associated with trading activities are presented on a net basis in Gas Marketing Operating Revenues in the Condensed Consolidated Statements of Income. This net presentation has no effect on operating income or net income. GROSS RECEIPTS TAXES – Gross receipts taxes associated with the Utilities' services are imposed on the Utilities and billed to customers. The revenue and expense amounts are recorded gross in the "Operating Revenues" and "Taxes, other than income taxes" lines, respectively, in the statements of income. The following table presents gross receipts taxes recorded as revenues. Three Months Ended December 31, 2015 2014 Laclede Group $ 17.9 $ 27.7 Laclede Gas 13.9 21.9 Alagasco 4.0 5.8 REGULATED OPERATIONS – The Utilities account for their regulated operations in accordance with FASB ASC Topic 980, “Regulated Operations.” This Topic sets forth the application of GAAP for those companies whose rates are established by or are subject to approval by an independent third-party regulator. The provisions of this accounting guidance require, among other things, that financial statements of a regulated enterprise reflect the actions of regulators, where appropriate. These actions may result in the recognition of revenues and expenses in time periods that are different than non-regulated enterprises. When this occurs, costs are deferred as assets in the balance sheet (regulatory assets) and recorded as expenses when those amounts are reflected in rates. In addition, regulators can impose liabilities upon a regulated company for amounts previously collected from customers and for recovery of costs that are expected to be incurred in the future (regulatory liabilities). Management believes that the current regulatory environment supports the continued use of these regulatory accounting principles and that all regulatory assets and regulatory liabilities are recoverable or refundable through the regulatory process. As authorized by the Missouri Public Service Commission (MoPSC), the Purchased Gas Adjustment (PGA) clauses allow the Missouri Utilities to flow through to customers, subject to prudence review by the MoPSC, the cost of purchased gas supplies. Similarly, Alagasco's rate schedules for natural gas distribution charges contain a Gas Supply Adjustment (GSA) rider, which permits the pass-through to customers of changes in the cost of gas supply. Regulatory assets and liabilities related to the PGA clauses and GSA rider are both labeled Unamortized Purchased Gas Adjustments herein. See additional discussion on regulated operations in Note 3 , Regulatory Matters. TRANSACTIONS WITH AFFILIATES – Transactions between affiliates of the Company have been eliminated from the consolidated financial statements of Laclede Group. Other than normal intercompany shared services transactions, there were no intercompany transactions between Alagasco and affiliates during the quarters ended December 31, 2015 and December 31, 2014 . Laclede Gas had the following transactions with affiliates: Three Months Ended December 31, 2015 2014 Sales of natural gas from Laclede Gas to LER $ 0.7 $ 1.0 Sales of natural gas from LER to Laclede Gas 13.2 25.3 Transportation services provided by Laclede Pipeline Company to Laclede Gas 0.3 0.3 Insurance services provided by Laclede Insurance Risk Services, Inc. to Laclede Gas 0.2 0.2 UTILITY PLANT – Laclede Gas had accrued capital expenditures of $4.6 , $9.6 , and $2.5 as of December 31, 2015 , September 30, 2015 , and December 31, 2014 , respectively. Alagasco had accrued capital expenditures of $3.1 , $3.1 , and $4.8 as of December 31, 2015 , September 30, 2015 , and December 31, 2014 , respectively. Accrued capital expenditures are excluded from the capital expenditures shown in the statements of cash flows. FINANCE RECEIVABLES – Alagasco finances third party contractor sales of merchandise including gas furnaces and appliances. The Company’s finance receivables totaled approximately $11.2 , $11.2 , and $11.1 as of December 31, 2015 , September 30, 2015 , and December 31, 2014 , respectively. Financing is available only to qualified customers who meet creditworthiness thresholds for customer payment history and external agency credit reports. Alagasco relies upon ongoing payments as the primary indicator of credit quality during the term of each contract. The allowance for credit losses is recognized using an estimate of write-off percentages based on historical experience applied to an aging of the finance receivable balance. Delinquent accounts are evaluated on a case-by-case basis and, absent evidence of debt repayment after 90 days, are due in full and assigned to a third party collection agency. The remaining finance receivable is written off approximately 12 months after being assigned to the third party collection agency. Alagasco's finance receivables that were at least 90 days past due totaled $0.4 , $0.4 , and $0.3 as of December 31, 2015 , September 30, 2015 , and December 31, 2014 , respectively. Alagasco recorded an allowance for credit losses of $0.4 , $0.4 , and $0.3 as of December 31, 2015 , September 30, 2015 , and December 31, 2014 , respectively. NEW ACCOUNTING PRONOUNCEMENTS – In May 2014, the FASB issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. The core principle of the standard is when an entity transfers goods or services to customers it will recognize revenue in an amount that reflects the consideration the entity expects to be entitled to for those goods or services. ASU No. 2014-09 also requires disclosures that will enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. In August 2015, the FASB issued ASU No. 2015-14, which made the guidance in ASU No. 2014-09 effective for fiscal years beginning after December 15, 2017 and interim periods within those years, but companies may choose to adopt it one year earlier. The Company, Laclede Gas and Alagasco are currently assessing the available transition methods and the potential impacts of the standard, which must be adopted by the first quarter of fiscal 2019. In April 2015, the FASB issued ASU No. 2015-03, Interest – Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs, to require debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The Company, Laclede Gas and Alagasco are currently assessing the timing and impacts of adopting this standard, which must be adopted by the first quarter of fiscal year 2017. In July 2015, the FASB issued ASU No. 2015-11 – Inventory: Simplifying the Measurement of Inventory. This standard provides guidance for the subsequent measurement of inventory and requires that inventory that is measured using average cost be measured at the lower of cost and net realizable value. The Company, Laclede Gas and Alagasco are currently evaluating the impact of the adoption of this new standard, which must be adopted by the first quarter of fiscal year 2018. In September 2015, the FASB issued ASU No. 2015-16 – Business Combinations: Simplifying the Accounting for Measurement-Period Adjustments. Under this new standard, an acquirer will no longer be required to retrospectively account for adjustments to provisional amounts but will recognize them in the reporting period in which the adjustment amounts are determined. The timing and effects of adoption by the Company, Laclede Gas and Alagasco will be affected by the timing of any future business combination activity and the nature and amounts of related measurement-period adjustments. In November 2015, the FASB issued ASU No. 2015-17, Income Taxes: Balance Sheet Classification of Deferred Taxes, to require that deferred tax liabilities and assets be classified entirely as non-current. This amended guidance is effective for fiscal years beginning after December 15, 2016, including interim periods within those years. Early adoption is permitted, and the amended guidance may be applied prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. The Company, Laclede Gas and Alagasco are currently evaluating the effects and timing of the adoption of this new standard, which must be adopted by the first quarter of fiscal year 2018. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities, which provides revised guidance concerning certain matters involving the recognition, measurement, and disclosure of financial instruments. It is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company, Laclede Gas and Alagasco are currently assessing the timing and impacts of adopting this standard, which must be adopted by the first quarter of fiscal year 2019. |
EARNINGS PER COMMON SHARE
EARNINGS PER COMMON SHARE | 3 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
EARNINGS PER COMMON SHARE | EARNINGS PER COMMON SHARE Three Months Ended December 31, 2015 2014 Basic EPS: Net Income $ 46.9 $ 47.1 Less: Income allocated to participating securities 0.2 0.2 Net Income Available to Common Shareholders $ 46.7 $ 46.9 Weighted Average Shares Outstanding (in millions) 43.2 43.1 Basic Earnings Per Share of Common Stock $ 1.08 $ 1.09 Diluted EPS: Net Income $ 46.9 $ 47.1 Less: Income allocated to participating securities 0.2 0.2 Net Income Available to Common Shareholders $ 46.7 $ 46.9 Weighted Average Shares Outstanding (in millions) 43.2 43.1 Dilutive Effect of Stock Options, Restricted Stock and Restricted Stock Units (in millions) 0.2 0.1 Weighted Average Diluted Shares (in millions) 43.4 43.2 Diluted Earnings Per Share of Common Stock $ 1.08 $ 1.09 In the three months ended December 31, 2015 and December 31, 2014 there were approximately 0.4 and 0.3 million shares, respectively, of restricted stock and stock units subject to performance and/or market conditions excluded from the calculation of diluted EPS. Also, Laclede Group's 2014 2.0% Series Equity Units issued in June 2014 were anti-dilutive for the three months ended December 31, 2015 and 2014; accordingly, they were excluded from the calculation of weighted average diluted shares for those periods. |
REGULATORY MATTERS
REGULATORY MATTERS | 3 Months Ended |
Dec. 31, 2015 | |
Regulated Operations [Abstract] | |
REGULATORY MATTERS | REGULATORY MATTERS As explained in Note 1 , Summary of Significant Accounting Policies, Laclede Gas and Alagasco account for regulated operations in accordance with FASB ASC Topic 980, "Regulated Operations." The following regulatory assets and regulatory liabilities, including purchased gas adjustments, were reflected in the balance sheets of the Company and the Utilities as of December 31, 2015 , September 30, 2015 and December 31, 2014 . December 31, September 30, December 31, Laclede Group 2015 2015 2014 Regulatory Assets: Current: Pension and postretirement benefit costs $ 26.7 $ 22.0 $ 21.4 Unamortized purchased gas adjustments 44.6 12.9 60.6 Other 5.0 5.6 5.2 Total Regulatory Assets (current) 76.3 40.5 87.2 Non-current: Future income taxes due from customers 138.7 134.5 121.3 Pension and postretirement benefit costs 441.3 448.7 426.1 Cost of removal 79.4 78.9 21.1 Enhanced stability reserve — — 3.3 Purchased gas costs 11.5 24.1 4.2 Energy efficiency 23.0 22.3 — Other 33.1 29.1 39.8 Total Regulatory Assets (non-current) 727.0 737.6 615.8 Total Regulatory Assets $ 803.3 $ 778.1 $ 703.0 Regulatory Liabilities: Current: RSE adjustment $ 11.1 $ 12.2 $ 17.0 Unbilled service margin 16.4 6.4 20.8 Pension and postretirement benefit costs — — 2.3 Refundable negative salvage 10.5 10.8 13.1 Unamortized purchased gas adjustments 14.3 28.2 22.1 Other 3.5 3.0 0.6 Total Regulatory Liabilities (current) 55.8 60.6 75.9 Non-current: Postretirement liabilities 28.4 28.9 25.6 Refundable negative salvage 15.8 16.2 25.6 Accrued cost of removal 58.6 58.7 59.3 Other 26.3 15.5 12.4 Total Regulatory Liabilities (non-current) 129.1 119.3 122.9 Total Regulatory Liabilities $ 184.9 $ 179.9 $ 198.8 December 31, September 30, December 31, Laclede Gas 2015 2015 2014 Regulatory Assets: Current: Pension and postretirement benefit costs $ 20.2 $ 15.5 $ 15.0 Unamortized purchased gas adjustments 44.6 12.9 60.6 Other 0.7 0.7 3.0 Total Regulatory Assets (current) 65.5 29.1 78.6 Non-current: Future income taxes due from customers 138.7 134.5 121.3 Pension and postretirement benefit costs 362.2 368.0 361.6 Purchased gas costs 11.5 24.1 4.2 Energy efficiency 23.0 22.3 — Other 28.5 24.7 39.8 Total Regulatory Assets (non-current) 563.9 573.6 526.9 Total Regulatory Assets $ 629.4 $ 602.7 $ 605.5 Regulatory Liabilities: Current: Other $ 1.1 $ 0.6 $ 0.6 Total Regulatory Liabilities (current) 1.1 0.6 0.6 Non-current: Accrued cost of removal 58.6 58.7 59.3 Other 22.8 11.9 11.6 Total Regulatory Liabilities (non-current) 81.4 70.6 70.9 Total Regulatory Liabilities $ 82.5 $ 71.2 $ 71.5 December 31, September 30, December 31, Alagasco 2015 2015 2014 Regulatory Assets: Current: Pension and postretirement benefit costs $ 6.5 $ 6.5 $ 6.4 Other 4.3 4.9 2.2 Total Regulatory Assets (current) 10.8 11.4 8.6 Non-current: Pension and postretirement benefit costs 79.1 80.7 64.5 Cost of removal 79.4 78.9 21.1 Enhanced stability reserve — — 3.3 Other 4.0 4.0 — Total Regulatory Assets (non-current) 162.5 163.6 88.9 Total Regulatory Assets $ 173.3 $ 175.0 $ 97.5 Regulatory Liabilities: Current: RSE adjustment $ 11.1 $ 12.2 $ 17.0 Unbilled service margin 16.4 6.4 20.8 Pension and postretirement benefit costs — — 2.3 Refundable negative salvage 10.5 10.8 13.1 Unamortized purchased gas adjustments 14.3 28.2 22.1 Other 2.4 2.4 — Total Regulatory Liabilities (current) 54.7 60.0 75.3 Non-current: Postretirement liabilities 28.4 28.9 25.6 Refundable negative salvage 15.8 16.2 25.6 Other 3.5 3.6 0.7 Total Regulatory Liabilities (non-current) 47.7 48.7 51.9 Total Regulatory Liabilities $ 102.4 $ 108.7 $ 127.2 A portion of the Company's and Laclede Gas' regulatory assets are not earning a return, as shown in the schedule below: Laclede Group Laclede Gas December 31, September 30, December 31, December 31, September 30, December 31, ($ Millions) 2015 2015 2014 2015 2015 2014 Regulatory Assets Not Earning a Return: Future income taxes due from customers $ 138.7 $ 134.5 $ 121.3 $ 138.7 $ 134.5 $ 121.3 Pension and postretirement benefit costs 217.7 223.7 277.7 217.7 223.7 277.7 Other 13.5 14.2 15.6 13.5 14.2 15.6 Total Regulatory Assets Not Earning a Return $ 369.9 $ 372.4 $ 414.6 $ 369.9 $ 372.4 $ 414.6 Like all the Company's regulatory assets, these regulatory assets are expected to be recovered from customers in future rates. The Company and Laclede Gas expect these items to be recovered over a period not to exceed 15 years consistent with precedent set by the MoPSC. The portion of regulatory assets related to pensions and other postemployment benefits that pertains to unfunded differences between the projected benefit obligation and plan assets also does not earn a rate of return. Alagasco does not have any regulatory assets that are not earning a return. |
FAIR VALUE OF FINANCIAL INSTRUM
FAIR VALUE OF FINANCIAL INSTRUMENTS | 3 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE OF FINANCIAL INSTRUMENTS | FAIR VALUE OF FINANCIAL INSTRUMENTS The carrying amounts of cash and cash equivalents and short-term debt approximate fair value due to the short maturity of these instruments. The fair values of long-term debt are estimated based on market prices for similar issues. Refer to Note 5 , Fair Value Measurements, for information on financial instruments measured at fair value on a recurring basis. Laclede Group The carrying amounts and estimated fair values of financial instruments not measured at fair value on a recurring basis for the Company are as follows: Classification of Estimated Fair Value Carrying Amount Fair Value Quoted Prices in Active Markets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) As of December 31, 2015 Cash and cash equivalents $ 4.6 $ 4.6 $ 4.6 $ — $ — Short-term debt 377.1 377.1 — 377.1 — Long-term debt 1,851.5 1,916.5 — 1,916.5 — As of September 30, 2015 Cash and cash equivalents $ 13.8 $ 13.8 $ 13.8 $ — $ — Short-term debt 338.0 338.0 — 338.0 — Long-term debt, including current portion 1,851.5 1,944.2 — 1,944.2 — As of December 31, 2014 Cash and cash equivalents $ 13.4 $ 13.4 $ 13.4 $ — $ — Short-term debt 397.5 397.5 — 397.5 — Long-term debt, including current portion 1,851.0 1,975.0 — 1,975.0 — Laclede Gas The carrying amounts and estimated fair values of financial instruments not measured at fair value on a recurring basis for Laclede Gas are as follows: Classification of Estimated Fair Value Carrying Amount Fair Value Quoted Prices in Active Markets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) As of December 31, 2015 Cash and cash equivalents $ 1.3 $ 1.3 $ 1.3 $ — $ — Short-term debt 274.1 274.1 — 274.1 — Long-term debt 808.2 858.5 — 858.5 — As of September 30, 2015 Cash and cash equivalents $ 1.7 $ 1.7 $ 1.7 $ — $ — Short-term debt 233.0 233.0 — 233.0 — Long-term debt 808.1 880.2 — 880.2 — As of December 31, 2014 Cash and cash equivalents $ 5.9 $ 5.9 $ 5.9 $ — $ — Short-term debt 319.5 319.5 — 319.5 — Long-term debt 808.0 892.2 — 892.2 — Alagasco The carrying amounts and estimated fair values of financial instruments not measured at fair value on a recurring basis for Alagasco are as follows: Classification of Estimated Fair Value Carrying Amount Fair Value Quoted Prices in Active Markets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) As of December 31, 2015 Cash and cash equivalents $ 0.1 $ 0.1 $ 0.1 $ — $ — Short-term debt 43.0 43.0 — 43.0 — Long-term debt 250.0 256.5 — 256.5 — As of September 30, 2015 Cash and cash equivalents $ 7.2 $ 7.2 $ 7.2 $ — $ — Short-term debt 31.0 31.0 — 31.0 — Long-term debt, including current portion 250.0 263.2 — 263.2 — As of December 31, 2014 Cash and cash equivalents $ 3.3 $ 3.3 $ 3.3 $ — $ — Short-term debt 21.5 21.5 — 21.5 — Long-term debt, including current portion 249.7 268.8 — 268.8 — |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 3 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE MEASUREMENTS | FAIR VALUE MEASUREMENTS The following tables for Laclede Group and Laclede Gas categorize the assets and liabilities in the balance sheets that are accounted for at fair value on a recurring basis in periods subsequent to initial recognition. Currently Alagasco has no assets or liabilities that are accounted for at fair value on a recurring basis in periods subsequent to initial recognition. The mutual funds included in Level 1 are valued based on exchange-quoted market prices of individual securities. The mutual funds included in Level 2 are valued based on the closing net asset value per unit. Derivative instruments included in Level 1 are valued using quoted market prices on the New York Mercantile Exchange (NYMEX) or the Intercontinental Exchange (ICE). Derivative instruments classified in Level 2 include physical commodity derivatives that are valued using Over-the-Counter Bulletin Board (OTCBB), broker, or dealer quotation services whose prices are derived principally from, or are corroborated by, observable market inputs. Also included in Level 2 are certain derivative instruments that have values that are similar to, and correlate with, quoted prices for exchange-traded instruments in active markets and derivative instruments with settlement dates more than one year into the future. Derivative instruments included in Level 3 are valued using generally unobservable inputs that are based upon the best information available and reflect management’s assumptions about how market participants would price the asset or liability. The Level 3 balances as of December 31, 2015 and September 30, 2015 consisted of gas commodity contracts. The Company’s and the Utilities' policy is to recognize transfers between the levels of the fair value hierarchy, if any, as of the beginning of the interim reporting period in which circumstances change or events occur to cause the transfer. The mutual funds are included in "Other Investments" on the Company's balance sheets and in "Other Property and Investments" on Laclede Gas' balance sheets. Derivative assets and liabilities, including receivables and payables associated with cash margin requirements, are presented net in the balance sheets when a legally enforceable netting agreement exists between the Company or Laclede Gas and the counterparty to a derivative contract. Laclede Group Quoted Prices in Active Markets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Effects of Netting and Cash Margin Receivables /Payables Total As of December 31, 2015 ASSETS Gas Utility U. S. stock/bond mutual funds $ 15.9 $ 4.0 $ — $ — $ 19.9 NYMEX/ICE natural gas contracts 0.1 — — (0.1 ) — Subtotal 16.0 4.0 — (0.1 ) 19.9 Gas Marketing NYMEX/ICE natural gas contracts 4.1 5.8 — (6.9 ) 3.0 Natural gas commodity contracts — 1.9 0.2 (0.3 ) 1.8 Total $ 20.1 $ 11.7 $ 0.2 $ (7.3 ) $ 24.7 LIABILITIES Gas Utility NYMEX/ICE natural gas contracts $ 17.3 $ — $ — $ (17.3 ) $ — OTCBB natural gas contracts — 4.6 — — 4.6 NYMEX gasoline and heating oil contracts 0.1 — — (0.1 ) — Subtotal 17.4 4.6 — (17.4 ) 4.6 Gas Marketing NYMEX/ICE natural gas contracts 1.5 3.5 — (5.0 ) — Natural gas commodity contracts — 1.4 — (0.3 ) 1.1 Total $ 18.9 $ 9.5 $ — $ (22.7 ) $ 5.7 As of September 30, 2015 ASSETS Gas Utility U. S. stock/bond mutual funds $ 15.5 $ 4.0 $ — $ — $ 19.5 NYMEX/ICE natural gas contracts 1.3 — — (1.3 ) — Subtotal 16.8 4.0 — (1.3 ) 19.5 Gas Marketing NYMEX natural gas contracts 6.3 4.3 — (6.6 ) 4.0 Natural gas commodity contracts — 1.5 0.2 (0.5 ) 1.2 Total $ 23.1 $ 9.8 $ 0.2 $ (8.4 ) $ 24.7 LIABILITIES Gas Utility NYMEX/ICE natural gas contracts $ 16.4 $ — $ — $ (16.4 ) $ — OTCBB natural gas contracts — 5.9 — — 5.9 NYMEX gasoline and heating oil contracts 0.3 — — (0.3 ) — Subtotal 16.7 5.9 — (16.7 ) 5.9 Gas Marketing NYMEX/ICE natural gas contracts 1.2 3.9 — (5.1 ) — Natural gas commodity contracts — 2.2 — (0.5 ) 1.7 Total $ 17.9 $ 12.0 $ — $ (22.3 ) $ 7.6 Quoted Prices in Active Markets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Effects of Netting and Cash Margin Receivables /Payables Total December 31, 2014 ASSETS Gas Utility U. S. stock/bond mutual funds $ 16.3 $ 3.9 $ — $ — $ 20.2 Gas Marketing NYMEX/ICE natural gas contracts 5.4 1.0 — (4.3 ) 2.1 Natural gas commodity contracts — 4.1 0.2 (0.3 ) 4.0 Total $ 21.7 $ 9.0 $ 0.2 $ (4.6 ) $ 26.3 LIABILITIES Gas Utility NYMEX/ICE natural gas contracts $ 19.4 $ — $ — $ (19.4 ) $ — OTCBB natural gas contracts — 19.5 — — 19.5 NYMEX gasoline and heating oil contracts 1.3 — — (1.3 ) — Subtotal 20.7 19.5 — (20.7 ) 19.5 Gas Marketing NYMEX/ICE natural gas contracts 3.4 4.5 — (7.9 ) — Natural gas commodity contracts — 1.1 — (0.3 ) 0.8 Total $ 24.1 $ 25.1 $ — $ (28.9 ) $ 20.3 Laclede Gas Quoted Prices in Active Markets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Effects of Netting and Cash Margin Receivables /Payables Total As of December 31, 2015 ASSETS U. S. stock/bond mutual funds $ 15.9 $ 4.0 $ — $ — $ 19.9 NYMEX/ICE natural gas contracts 0.1 — — (0.1 ) — Total 16.0 4.0 — (0.1 ) 19.9 LIABILITIES NYMEX/ICE natural gas contracts 17.3 — — (17.3 ) — OTCBB natural gas contracts — 4.6 — — 4.6 Gasoline and heating oil contracts 0.1 — — (0.1 ) — Total $ 17.4 $ 4.6 $ — $ (17.4 ) $ 4.6 As of September 30, 2015 ASSETS U. S. stock/bond mutual funds $ 15.5 $ 4.0 $ — $ — $ 19.5 NYMEX/ICE natural gas contracts 1.3 — — (1.3 ) — Total 16.8 4.0 — (1.3 ) 19.5 LIABILITIES NYMEX/ICE natural gas contracts 16.4 — — (16.4 ) — OTCBB natural gas contracts — 5.9 — — 5.9 NYMEX gasoline and heating oil contracts 0.3 — — (0.3 ) — Total $ 16.7 $ 5.9 $ — $ (16.7 ) $ 5.9 Quoted Prices in Active Markets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Effects of Netting and Cash Margin Receivables /Payables Total Balance at December 31, 2014 ASSETS U. S. Stock/Bond Mutual Funds $ 16.3 $ 3.9 $ — $ — $ 20.2 Total 16.3 3.9 — — 20.2 LIABILITIES NYMEX/ICE Natural gas contracts 19.4 — — (19.4 ) — OTCBB Natural gas contracts — 19.5 — — 19.5 Gasoline and heating oil contracts 1.3 — — (1.3 ) — Total $ 20.7 $ 19.5 $ — $ (20.7 ) $ 19.5 |
CONCENTRATIONS OF CREDIT RISK
CONCENTRATIONS OF CREDIT RISK | 3 Months Ended |
Dec. 31, 2015 | |
Risks and Uncertainties [Abstract] | |
CONCENTRATION OF CREDIT RISK | CONCENTRATIONS OF CREDIT RISK Other than in LER (the Gas Marketing segment), Laclede Group has no significant concentrations of credit risk. A significant portion of LER’s transactions are with (or are associated with) energy producers, utility companies, and pipelines. The concentration of transactions with these counterparties has the potential to affect the Company’s overall exposure to credit risk, either positively or negatively, in that each of these three groups may be affected similarly by changes in economic, industry, or other conditions. To manage this risk, as well as credit risk from significant counterparties in these and other industries, LER has established procedures to determine the creditworthiness of its counterparties. These procedures include obtaining credit ratings and credit reports, analyzing counterparty financial statements to assess financial condition, and considering the industry environment in which the counterparty operates. This information is monitored on an ongoing basis. In some instances, LER may require credit assurances such as prepayments, letters of credit, or parental guarantees. In addition, LER may enter into netting arrangements to mitigate credit risk with counterparties in the energy industry from which LER both sells and purchases natural gas. Sales are typically made on an unsecured credit basis with payment due the month following delivery. Accounts receivable amounts are closely monitored and provisions for uncollectible amounts are accrued when losses are probable. LER records accounts receivable, accounts payable, and prepayments for physical sales and purchases of natural gas on a gross basis. The amount included in LER's accounts receivable attributable to energy producers and their marketing affiliates totaled $11.2 at December 31, 2015 . Net receivable amounts from these customers on the same date, reflecting netting arrangements, were $5.3 . LER's accounts receivable attributable to utility companies and their marketing affiliates comprised $25.3 of total accounts receivable at December 31, 2015 , while net receivable amounts from these customers, reflecting netting arrangements, were $22.2 . LER also has concentrations of credit risk with certain individually significant counterparties and with pipeline companies associated with its natural gas receivable amounts. At December 31, 2015 , the amounts included in accounts receivable from LER’s five largest counterparties (in terms of net accounts receivable exposure) totaled $16.3 . These five counterparties are either investment-grade rated or owned by investment-grade rated companies. Net receivable amounts from these five customers on the same date, reflecting netting arrangements, were $12.9 . |
PENSION PLANS AND OTHER POSTRET
PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS | 3 Months Ended |
Dec. 31, 2015 | |
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract] | |
PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS | PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS This footnote includes all pension plans of the Company whether historical plans or those acquired as part of the purchase of certain assets and liabilities of MGE on September 1, 2013 or those acquired in the Alagasco acquisition effective August 31, 2014. The net pension and postretirement obligations were re-measured at the applicable acquisition dates as well as at the fiscal year end. Pension Plans The pension plans of Laclede Group consist of plans for employees at the Missouri Utilities and plans covering employees of Alagasco. The Missouri Utilities have non-contributory, defined benefit, trusteed forms of pension plans covering the majority of their employees. Plan assets consist primarily of corporate and United States (US) government obligations and a growth segment consisting of exposure to equity markets, commodities, real estate and inflation-indexed securities, achieved through derivative instruments and investments in diversified mutual funds. Alagasco has non-contributory, defined benefit, trusteed forms of pension plans covering the majority of its employees. Qualified plan assets are comprised of United States equities consisting of mutual and commingled funds with varying strategies, global equities consisting of mutual funds, alternative investments of limited partnerships and commingled and mutual funds, and fixed income investments. The net periodic pension cost included the following components: Three Months Ended December 31, 2015 2014 Laclede Group Service cost – benefits earned during the period $ 3.9 $ 4.3 Interest cost on projected benefit obligation 7.1 7.5 Expected return on plan assets (8.9 ) (9.4 ) Amortization of prior service cost 0.1 0.1 Amortization of actuarial loss 2.0 1.9 Special termination benefit 1.6 — Subtotal 5.8 4.4 Regulatory adjustment 5.0 4.9 Net pension cost $ 10.8 $ 9.3 Laclede Gas Service cost – benefits earned during the period $ 2.5 $ 2.8 Interest cost on projected benefit obligation 5.4 5.9 Expected return on plan assets (6.7 ) (7.3 ) Amortization of prior service cost 0.1 0.1 Amortization of actuarial loss 2.0 1.9 Special termination benefit 1.6 — Subtotal 4.9 3.4 Regulatory adjustment 3.5 3.4 Net pension cost $ 8.4 $ 6.8 Alagasco Service cost – benefits earned during the period $ 1.4 $ 1.5 Interest cost on projected benefit obligation 1.7 1.6 Expected return on plan assets (2.2 ) (2.1 ) Subtotal 0.9 1.0 Regulatory adjustment 1.5 1.5 Net pension cost $ 2.4 $ 2.5 Pursuant to the provisions of the Missouri Utilities' and Alagasco's pension plans, pension obligations may be satisfied by lump-sum cash payments or special termination benefits. Lump-sum payments are recognized as settlements (which can result in gains or losses) only if the total of such payments exceeds 100% of the sum of service and interest costs in a specific year. Special termination benefits, when offered, are also recognized as settlements which can result in gains or losses. In the quarter ended December 31, 2015 , the Laclede pension plan provided qualified employees with voluntary early retirement packages that qualified as special termination benefits, resulting in a charge of $1.6 for the current quarter. The funding policy of the Utilities is to contribute an amount not less than the minimum required by government funding standards, nor more than the maximum deductible amount for federal income tax purposes. Fiscal year 2016 contributions to Laclede Gas' pension plans through December 31, 2015 were $11.0 to the qualified trusts and $0.3 to the non-qualified plans. There were no fiscal 2016 contributions to the Alagasco pension plans through December 31, 2015 . Contributions to the Missouri Utilities' pension plans for the remaining nine months of fiscal 2016 are anticipated to be $15.0 to the qualified trusts and $0.2 to the non-qualified plans. There are no expected contributions to Alagasco's pension plans for the remaining nine months of fiscal 2016. Postretirement Benefits The Utilities provide certain life insurance benefits at retirement. Laclede Gas plans provide for medical insurance after early retirement until age 65 . For retirements prior to January 1, 2015, the MGE plans provided medical insurance after retirement until death. For retirements after January 1, 2015, the MGE plans provide medical insurance after early retirement until age 65 . The transition obligation not yet included in postretirement benefit cost is being amortized over 20 years. Under the Alagasco plans, medical insurance is currently available upon retirement until death for certain retirees depending on the type of employee and the date the employee was originally hired. Net periodic postretirement benefit cost for the Company consisted of the following components: Three Months Ended December 31, 2015 2014 Laclede Group Service cost – benefits earned during the period $ 2.8 $ 3.2 Interest cost on accumulated postretirement benefit obligation 2.5 2.8 Expected return on plan assets (3.4 ) (3.3 ) Amortization of prior service credit 0.1 0.2 Amortization of actuarial loss 0.9 1.3 Special termination benefit 2.6 — Subtotal 5.5 4.2 Regulatory adjustment (4.2 ) (2.7 ) Net postretirement benefit cost $ 1.3 $ 1.5 Laclede Gas Service cost – benefits earned during the period $ 2.7 $ 3.1 Interest cost on accumulated postretirement benefit obligation 2.0 2.1 Expected return on plan assets (2.1 ) (2.0 ) Amortization of prior service credit 0.1 0.2 Amortization of actuarial loss 1.0 1.3 Special termination benefit 2.6 — Subtotal 6.3 4.7 Regulatory adjustment (3.8 ) (2.3 ) Net postretirement benefit cost $ 2.5 $ 2.4 Alagasco Service cost – benefits earned during the period $ 0.1 $ 0.1 Interest cost on accumulated postretirement benefit obligation 0.5 0.7 Expected return on plan assets (1.3 ) (1.3 ) Amortization of actuarial gain (0.1 ) — Subtotal (0.8 ) (0.5 ) Regulatory adjustment (0.4 ) (0.4 ) Net postretirement benefit income $ (1.2 ) $ (0.9 ) Missouri and Alabama state law provides for the recovery in rates of costs accrued pursuant to GAAP provided that such costs are funded through an independent, external funding mechanism. The Utilities have established Voluntary Employees’ Beneficiary Association (VEBA) and Rabbi Trusts as external funding mechanisms. The assets of the VEBA and Rabbi Trusts consist primarily of money market securities and mutual funds invested in stocks and bonds. During the quarter ended December 31, 2015 , the Laclede post-retirement plan offered qualified employees voluntary enhanced early retirement packages that resulted in a special termination benefits charge of $2.6 for the current quarter. The Utilities' funding policy is to contribute amounts to the trusts equal to the periodic benefit cost calculated pursuant to GAAP as recovered in rates. There were no fiscal year 2016 contributions to the postretirement plans through December 31, 2015 for the Missouri Utilities. Contributions to the postretirement plans for the remaining nine months of fiscal year 2016 are anticipated to be $14.3 to the qualified trusts and $0.4 paid directly to participants from the Missouri Utilities' funds. For Alagasco, there were no contributions to the postretirement plans during the first three months of fiscal year 2016, and there are none expected for the remaining nine months. |
INFORMATION BY OPERATING SEGMEN
INFORMATION BY OPERATING SEGMENT | 3 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
INFORMATION BY OPERATING SEGMENT | INFORMATION BY OPERATING SEGMENT The Company has two key operating segments: Gas Utility and Gas Marketing. The Gas Utility segment is the aggregation of the regulated operations of the Utilities. The Gas Marketing segment 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 utilizes natural gas storage contracts for providing natural gas sales. Other includes: • unallocated corporate items, including certain debt and associated interest costs, • Laclede Pipeline Company, a subsidiary of Laclede Group which operates a propane pipeline under Federal Energy Regulatory Commission (FERC) jurisdiction, and • Laclede Group’s subsidiaries that are engaged in compression of natural gas, oil production, real estate development, risk management, and financial investments in other enterprises, among other activities. All subsidiaries are wholly owned. 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 exclude the after-tax impacts related to acquisition, divestiture, and restructuring activities. Gas Utility Gas Marketing Other Eliminations Consolidated Three Months Ended December 31, 2015 Operating Revenues: Revenues from external customers $ 398.8 $ 0.2 $ 0.4 $ — $ 399.4 Intersegment revenues 0.7 12.6 0.4 (13.7 ) — Total Operating Revenues 399.5 12.8 0.8 (13.7 ) 399.4 Operating Expenses: Gas Utility Natural and propane gas 161.9 — — (13.4 ) 148.5 Other operation and maintenance 91.9 — — (0.3 ) 91.6 Depreciation and amortization 33.5 — — — 33.5 Taxes, other than income taxes 28.2 — — — 28.2 Total Gas Utility Operating Expenses 315.5 — — (13.7 ) 301.8 Gas Marketing and Other — 9.0 1.6 — 10.6 Total Operating Expenses 315.5 9.0 1.6 (13.7 ) 312.4 Operating Income (Loss) $ 84.0 $ 3.8 $ (0.8 ) $ — $ 87.0 Net Economic Earnings (Loss) $ 50.0 $ (0.3 ) $ (4.6 ) $ — $ 45.1 Three Months Ended December 31, 2014 Operating Revenues: Revenues from external customers $ 581.4 $ 37.8 $ 0.4 $ — $ 619.6 Intersegment revenues 1.0 24.4 0.5 (25.9 ) — Total Operating Revenues 582.4 62.2 0.9 (25.9 ) 619.6 Operating Expenses: Gas Utility Natural and propane gas 329.8 — — (25.5 ) 304.3 Other operation and maintenance 97.4 — — (0.3 ) 97.1 Depreciation and amortization 32.0 — — — 32.0 Taxes, other than income taxes 38.0 — — — 38.0 Total Gas Utility Operating Expenses 497.2 — — (25.8 ) 471.4 Gas Marketing and Other — 58.6 2.4 (0.1 ) 60.9 Total Operating Expenses 497.2 58.6 2.4 (25.9 ) 532.3 Operating Income (Loss) $ 85.2 $ 3.6 $ (1.5 ) $ — $ 87.3 Net Economic Earnings (Loss) $ 49.8 $ 0.4 $ (4.5 ) $ — $ 45.7 The Company's total assets by segment were as follows: December 31, September 30, December 31, 2015 2015 2014 Total Assets: Gas Utility $ 4,806.0 $ 4,686.2 $ 4,735.6 Gas Marketing 163.8 160.6 152.7 Other 1,551.1 1,560.2 1,576.1 Eliminations (1,109.5 ) (1,116.8 ) (1,175.9 ) Total Assets $ 5,411.4 $ 5,290.2 $ 5,288.5 The following table reconciles the Company's net income to net economic earnings: Three Months Ended December 31, 2015 2014 Net Income (GAAP) $ 46.9 $ 47.1 Unrealized gain on energy-related derivative contracts (3.0 ) (3.0 ) Lower of cost or market inventory adjustments 0.3 1.2 Acquisition, divestiture and restructuring activities 0.9 0.4 Net Economic Earnings (Non-GAAP) $ 45.1 $ 45.7 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 3 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES Commitments The Company and the Utilities have entered into contracts with various counterparties, expiring on dates through 2020 , for the storage, transportation, and supply of natural gas. Minimum payments required under the contracts in place at December 31, 2015 are estimated at approximately $1,144.0 , $516.4 , and $365.0 for the Company, Laclede Gas, and Alagasco, respectively. Additional contracts are generally entered into prior to or during the heating season of November through April. The Missouri Utilities recover their costs from customers in accordance with their PGA clause and Alagasco recovers its cost through its GSA rider. Contingencies The Company and Utilities account for environmental liabilities and other contingencies in accordance with accounting standards under the loss contingency guidance of ASC Topic 450, "Contingencies," when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. In addition to matters noted below, the Company, Laclede Gas and Alagasco are involved in other litigation, claims, and investigations arising in the normal course of business. Management, after discussion with counsel, believes that the final outcome will not have a material effect on the consolidated statements of income, balance sheets, and statements of cash flows of the Company, Laclede Gas or Alagasco. However, there is uncertainty in the valuation of pending claims and prediction of litigation results. Laclede Gas Similar to other natural gas utility companies, Laclede Gas owns and operates natural gas distribution, transmission, and storage facilities, the operations of which are subject to various environmental laws, regulations, and interpretations. While environmental issues resulting from such operations arise in the ordinary course of business, such issues have not materially affected the Company’s or Laclede Gas' financial position and results of operations. As environmental laws, regulations, and their interpretations change, however, the Company or Laclede Gas may incur additional environmental liabilities that may result in additional costs. In the natural gas industry, many gas distribution companies like Laclede Gas have incurred environmental liabilities associated with sites they or their predecessor companies formerly owned or operated where manufactured gas operations took place. At this time, Laclede Gas has identified three former manufactured gas plant (MGP) sites in eastern Missouri where costs have been incurred and claims have been asserted: one in Shrewsbury, Missouri and two in the City of St. Louis, Missouri. Laclede Gas has enrolled the two sites in the City of St. Louis in the Missouri Department of Natural Resources Brownfields/Voluntary Cleanup Program (BVCP). In Laclede Gas' western service area, MGE has enrolled all of its owned former manufactured gas plant sites in the BVCP. With regard to the former MGP site located in Shrewsbury, Missouri, Laclede Gas and state and federal environmental regulators agreed upon certain remedial actions to a portion of the site in a 1999 Administrative Order on Consent (AOC), which actions have been completed. On September 22, 2008, Environmental Protection Agency (EPA) Region VII issued a letter of Termination and Satisfaction terminating the AOC. However, if after this termination of the AOC, regulators require additional remedial actions, or additional claims are asserted, Laclede Gas may incur additional costs. In conjunction with redevelopment of one of the sites located in the City of St. Louis, Laclede Gas and another former owner of the site entered into an agreement (Remediation Agreement) with the City development agencies, the developer, and an environmental consultant that obligates one of the City agencies and the environmental consultant to remediate the site and obtain a No Further Action letter from the Missouri Department of Natural Resources. The Remediation Agreement also provides for a release of Laclede Gas and the other former site owner from certain liabilities related to the past and current environmental condition of the site and requires the developer and the environmental consultant to maintain certain insurance coverage, including remediation cost containment, premises pollution liability, and professional liability. The operative provisions of the Remediation Agreement were triggered on December 20, 2010, on which date Laclede Gas and the other former site owner, as full consideration under the Remediation Agreement, paid a small percentage of the cost of remediation of the site. The amount paid by Laclede Gas did not materially impact the financial condition, results of operations, or cash flows of the Company. Laclede Gas has not owned the other site located in the City of St. Louis for many years. In a letter dated June 29, 2011, the Attorney General for the state of Missouri informed Laclede Gas that the Missouri Department of Natural Resources had completed an investigation of the site. The Attorney General requested that Laclede Gas participate in the follow up investigations of the site. In a letter dated January 10, 2012, Laclede Gas stated that it would participate in future environmental response activities at the site in conjunction with other potentially responsible parties that are willing to contribute to such efforts in a meaningful and equitable fashion. Accordingly, Laclede Gas entered into a cost sharing agreement for remedial investigation with other potentially responsible parties. Pending Missouri Department of Natural Resources approval which has not occurred as of the date of filing, the remedial investigation of the site will begin. Laclede Gas has notified its insurers that it seeks reimbursement for costs incurred in the past and future potential liabilities associated with the MGP sites. While some of the insurers have denied coverage and reserved their rights, Laclede Gas continues to discuss potential reimbursements with them. On March 10, 2015, Laclede Gas received a Section 104(e) information request from EPA Region VII regarding the former Thompson Chemical/Superior Solvents site in St. Louis, Missouri. In turn, Laclede Gas issued a Freedom of Information Act (FOIA) request to the EPA on April 3, 2015, in an effort to identify the basis of the inquiry. The FOIA response from the EPA was received on July 15, 2015 and a response was provided to the EPA on August 15, 2015. MGE has seven owned MGP sites enrolled in the BVCP, including Joplin MGP #1, St. Joseph MGP #1, Kansas City Coal Gas Station B, Kansas City Station A Railroad area, Kansas City Coal Gas Station A North, Kansas City Coal Gas Station A South, and Independence MGP #2. Source removal has been conducted at all of the owned sites since 2003 with the exception of Joplin, which is in the early stages of site analysis and characterization. Remediation efforts at these sites are at various stages of completion, ranging from groundwater monitoring and sampling following source removal activities to early site characterization in Joplin. As part of its participation in the BVCP, MGE communicates regularly with the Missouri Department of Natural Resources with respect to its remediation efforts and monitoring activities at these sites. On May 11, 2015, Missouri Department of Natural Resources approved the next phase of investigation at the Kansas City Station A North and Railroad area. To date, costs incurred for all Missouri Utilities' MGP sites for investigation, remediation and monitoring these sites have not been material. However, the amount of costs relative to future remedial actions at these and other sites is unknown and may be material. The actual future costs that Laclede Gas may incur could be materially higher or lower depending upon several factors, including whether remediation actions will be required, final selection and regulatory approval of any remedial actions, changing technologies and government regulations, the ultimate ability of other potential responsible parties to pay, the successful completion of remediation efforts required by the Remediation Agreement described above, and any insurance recoveries. In 2013, Laclede Gas retained an outside consultant to conduct probabilistic cost modeling of 19 former MGP sites owned or operated by Laclede Gas in eastern Missouri or MGE in western Missouri. The purpose of this analysis was to develop an estimated range of probabilistic future liability for each site. That analysis, completed in August 2014, provided a range of demonstrated possible future expenditures to investigate, monitor and remediate all 19 MGP sites. Laclede Gas has recorded its best estimate of the probable expenditures that relate to these matters. The amount is not material. Costs associated with environmental remediation activities are accrued when such costs are probable and reasonably estimable. To the extent such costs (less any amounts received from insurance proceeds or as contributions from other potentially responsible parties (PRP)), are incurred prior to a rate case, Laclede Gas would request from the MoPSC authority to defer such costs and collect them in the next rate case. Laclede Gas and the Company do not expect potential liabilities that may arise from remediating these sites to have a material impact on their future financial condition or results of operations. Alagasco Alagasco owns and operates natural gas distribution, transmission, and storage facilities, the operations of which are subject to various environmental laws, regulations, and interpretations. While environmental issues resulting from such operations arise in the ordinary course of business, such issues have not materially affected the Company’s or Alagasco's financial position and results of operations. As environmental laws, regulations, and their interpretations change, Alagasco may be required to incur additional costs. Alagasco is in the chain of title of nine former MGP sites, four of which it still owns, and five former manufactured gas distribution sites, one of which it still owns. As of December 31, 2015, Alagasco does not foresee a probable or reasonably estimable loss associated with these nine sites. Alagasco and the Company do not expect potential liabilities that may arise from remediating these sites to have a material impact on their future financial conditions or results of operations. In 2012, Alagasco responded to an EPA Request for Information Pursuant to Section 104 of the Comprehensive Environment Response, Compensation, and Liability Act (CERCLA) relating to the 35th Avenue Superfund Site located in North Birmingham, Jefferson County, Alabama. Alagasco was identified as a PRP under CERCLA for the cleanup of the site or costs the EPA incurs in cleaning up the site. At this point, Alagasco has not been provided information that would allow it to determine the extent, if any, of its potential liability with respect to the 35th Avenue Superfund Site and vigorously denies its inclusion as a PRP. On December 17, 2013, an incident occurred at a Housing Authority apartment complex in Birmingham, Alabama that resulted in one fatality, personal injuries and property damage. Alagasco is cooperating with the National Transportation Safety Board which is investigating the incident. Alagasco has been named as a defendant in several lawsuits arising from the incident, and additional lawsuits and claims may be filed against Alagasco. Alagasco is, from time to time, a party to various pending or threatened legal proceedings and has accrued a provision for its estimated liability. Certain of these lawsuits include claims for punitive damages in addition to other specified relief. Alagasco recognizes its liability for contingencies when information available indicates both a loss is probable and the amount of the loss can be reasonably estimated. Based upon information presently available, and in light of available legal and other defenses, contingent liabilities arising from threatened and pending litigation are not considered material in relation to the financial position of Alagasco. However, there is uncertainty in the valuation of pending claims and prediction of litigation results. |
SUMMARY OF SIGNIFICANT ACCOUN17
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION | BASIS OF PRESENTATION – These notes are an integral part of the accompanying unaudited financial statements of The Laclede Group, Inc. (Laclede Group or the Company), as well as Laclede Gas Company (Laclede Gas or the Missouri Utilities) and Alabama Gas Corporation (Alagasco or the Alabama Utility). Laclede Gas, which includes the operations of Missouri Gas Energy (MGE), and Alagasco are wholly owned subsidiaries of the Company. Collectively, Laclede Gas and Alagasco are referred to as the Utilities. The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the disclosures required for complete financial statements. In the opinion of management, the accompanying unaudited financial statements include all adjustments (consisting of only normal recurring accruals) necessary for the fair presentation of the results of operations for the periods presented. This Form 10-Q should be read in conjunction with the Notes to Financial Statements contained in Laclede Group's, Laclede Gas' and Alagasco's Annual Reports on Form 10-K for the fiscal year ended September 30, 2015 . The consolidated financial position, results of operations, and cash flows of Laclede Group are primarily derived from the financial position, results of operations, and cash flows of the Utilities. In compliance with GAAP, transactions between the Utilities and their affiliates, as well as intercompany balances on the Utilities' balance sheets, have not been eliminated from the Utilities' financial statements. Certain amounts in the prior period have been adjusted to conform with the current period presentation for Laclede Group, Laclede Gas and Alagasco. The Company considered the impact of the adjustments on prior period results and determined that the amounts were not material to those periods. |
REVENUE RECOGNITION | REVENUE RECOGNITION – The Utilities read meters and bill customers on monthly cycles. The Missouri Utilities record their gas utility revenues from gas sales and transportation services on an accrual basis that includes estimated amounts for gas delivered but not yet billed. The accruals for unbilled revenues are reversed in the subsequent accounting period when meters are actually read and customers are billed. The amounts of accrued unbilled revenues for Laclede Gas at December 31, 2015 , September 30, 2015 , and December 31, 2014 were $74.6 , $27.6 , and $102.2 , respectively. Alagasco records natural gas distribution revenues in accordance with the tariff established by the Alabama Public Service Commission (APSC). The amount of accrued unbilled revenues, which is not recorded as revenue until billed, for Alagasco at December 31, 2015 , September 30, 2015 , and December 31, 2014 were $16.4 , $6.4 , and $20.8 , respectively. Laclede Group's other subsidiaries, including LER, record revenues when earned, either when the product is delivered or when services are performed. In the course of its business, LER enters into commitments associated with the purchase or sale of natural gas. Certain of LER’s derivative natural gas contracts are designated as normal purchases or normal sales and, as such, are excluded from the scope of Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 815, “Derivatives and Hedging.” Those contracts are accounted for as executory contracts and recorded on an accrual basis. Revenues and expenses from such contracts are recorded using a gross presentation. Contracts not designated as normal purchases or normal sales are recorded as derivatives with changes in fair value recognized in earnings in the periods prior to physical delivery. Certain of LER’s wholesale purchase and sale transactions are classified as trading activities for financial reporting purposes. Under GAAP, revenues and expenses associated with trading activities are presented on a net basis in Gas Marketing Operating Revenues in the Condensed Consolidated Statements of Income. This net presentation has no effect on operating income or net income. |
GROSS RECEIPTS TAXES | GROSS RECEIPTS TAXES – Gross receipts taxes associated with the Utilities' services are imposed on the Utilities and billed to customers. The revenue and expense amounts are recorded gross in the "Operating Revenues" and "Taxes, other than income taxes" lines, respectively, in the statements of income. |
REGULATED OPERATIONS | REGULATED OPERATIONS – The Utilities account for their regulated operations in accordance with FASB ASC Topic 980, “Regulated Operations.” This Topic sets forth the application of GAAP for those companies whose rates are established by or are subject to approval by an independent third-party regulator. The provisions of this accounting guidance require, among other things, that financial statements of a regulated enterprise reflect the actions of regulators, where appropriate. These actions may result in the recognition of revenues and expenses in time periods that are different than non-regulated enterprises. When this occurs, costs are deferred as assets in the balance sheet (regulatory assets) and recorded as expenses when those amounts are reflected in rates. In addition, regulators can impose liabilities upon a regulated company for amounts previously collected from customers and for recovery of costs that are expected to be incurred in the future (regulatory liabilities). Management believes that the current regulatory environment supports the continued use of these regulatory accounting principles and that all regulatory assets and regulatory liabilities are recoverable or refundable through the regulatory process. |
NEW ACCOUNTING PRONOUNCEMENTS | NEW ACCOUNTING PRONOUNCEMENTS – In May 2014, the FASB issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. The core principle of the standard is when an entity transfers goods or services to customers it will recognize revenue in an amount that reflects the consideration the entity expects to be entitled to for those goods or services. ASU No. 2014-09 also requires disclosures that will enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. In August 2015, the FASB issued ASU No. 2015-14, which made the guidance in ASU No. 2014-09 effective for fiscal years beginning after December 15, 2017 and interim periods within those years, but companies may choose to adopt it one year earlier. The Company, Laclede Gas and Alagasco are currently assessing the available transition methods and the potential impacts of the standard, which must be adopted by the first quarter of fiscal 2019. In April 2015, the FASB issued ASU No. 2015-03, Interest – Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs, to require debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The Company, Laclede Gas and Alagasco are currently assessing the timing and impacts of adopting this standard, which must be adopted by the first quarter of fiscal year 2017. In July 2015, the FASB issued ASU No. 2015-11 – Inventory: Simplifying the Measurement of Inventory. This standard provides guidance for the subsequent measurement of inventory and requires that inventory that is measured using average cost be measured at the lower of cost and net realizable value. The Company, Laclede Gas and Alagasco are currently evaluating the impact of the adoption of this new standard, which must be adopted by the first quarter of fiscal year 2018. In September 2015, the FASB issued ASU No. 2015-16 – Business Combinations: Simplifying the Accounting for Measurement-Period Adjustments. Under this new standard, an acquirer will no longer be required to retrospectively account for adjustments to provisional amounts but will recognize them in the reporting period in which the adjustment amounts are determined. The timing and effects of adoption by the Company, Laclede Gas and Alagasco will be affected by the timing of any future business combination activity and the nature and amounts of related measurement-period adjustments. In November 2015, the FASB issued ASU No. 2015-17, Income Taxes: Balance Sheet Classification of Deferred Taxes, to require that deferred tax liabilities and assets be classified entirely as non-current. This amended guidance is effective for fiscal years beginning after December 15, 2016, including interim periods within those years. Early adoption is permitted, and the amended guidance may be applied prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. The Company, Laclede Gas and Alagasco are currently evaluating the effects and timing of the adoption of this new standard, which must be adopted by the first quarter of fiscal year 2018. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities, which provides revised guidance concerning certain matters involving the recognition, measurement, and disclosure of financial instruments. It is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company, Laclede Gas and Alagasco are currently assessing the timing and impacts of adopting this standard, which must be adopted by the first quarter of fiscal year 2019. |
SUMMARY OF SIGNIFICANT ACCOUN18
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Schedule of gross receipts taxes | The following table presents gross receipts taxes recorded as revenues. Three Months Ended December 31, 2015 2014 Laclede Group $ 17.9 $ 27.7 Laclede Gas 13.9 21.9 Alagasco 4.0 5.8 |
Schedule of inter-company transactions | Laclede Gas had the following transactions with affiliates: Three Months Ended December 31, 2015 2014 Sales of natural gas from Laclede Gas to LER $ 0.7 $ 1.0 Sales of natural gas from LER to Laclede Gas 13.2 25.3 Transportation services provided by Laclede Pipeline Company to Laclede Gas 0.3 0.3 Insurance services provided by Laclede Insurance Risk Services, Inc. to Laclede Gas 0.2 0.2 |
EARNINGS PER COMMON SHARE (Tabl
EARNINGS PER COMMON SHARE (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | Three Months Ended December 31, 2015 2014 Basic EPS: Net Income $ 46.9 $ 47.1 Less: Income allocated to participating securities 0.2 0.2 Net Income Available to Common Shareholders $ 46.7 $ 46.9 Weighted Average Shares Outstanding (in millions) 43.2 43.1 Basic Earnings Per Share of Common Stock $ 1.08 $ 1.09 Diluted EPS: Net Income $ 46.9 $ 47.1 Less: Income allocated to participating securities 0.2 0.2 Net Income Available to Common Shareholders $ 46.7 $ 46.9 Weighted Average Shares Outstanding (in millions) 43.2 43.1 Dilutive Effect of Stock Options, Restricted Stock and Restricted Stock Units (in millions) 0.2 0.1 Weighted Average Diluted Shares (in millions) 43.4 43.2 Diluted Earnings Per Share of Common Stock $ 1.08 $ 1.09 |
REGULATORY MATTERS (Tables)
REGULATORY MATTERS (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Regulated Operations [Abstract] | |
Schedule of regulatory assets | The following regulatory assets and regulatory liabilities, including purchased gas adjustments, were reflected in the balance sheets of the Company and the Utilities as of December 31, 2015 , September 30, 2015 and December 31, 2014 . December 31, September 30, December 31, Laclede Group 2015 2015 2014 Regulatory Assets: Current: Pension and postretirement benefit costs $ 26.7 $ 22.0 $ 21.4 Unamortized purchased gas adjustments 44.6 12.9 60.6 Other 5.0 5.6 5.2 Total Regulatory Assets (current) 76.3 40.5 87.2 Non-current: Future income taxes due from customers 138.7 134.5 121.3 Pension and postretirement benefit costs 441.3 448.7 426.1 Cost of removal 79.4 78.9 21.1 Enhanced stability reserve — — 3.3 Purchased gas costs 11.5 24.1 4.2 Energy efficiency 23.0 22.3 — Other 33.1 29.1 39.8 Total Regulatory Assets (non-current) 727.0 737.6 615.8 Total Regulatory Assets $ 803.3 $ 778.1 $ 703.0 Regulatory Liabilities: Current: RSE adjustment $ 11.1 $ 12.2 $ 17.0 Unbilled service margin 16.4 6.4 20.8 Pension and postretirement benefit costs — — 2.3 Refundable negative salvage 10.5 10.8 13.1 Unamortized purchased gas adjustments 14.3 28.2 22.1 Other 3.5 3.0 0.6 Total Regulatory Liabilities (current) 55.8 60.6 75.9 Non-current: Postretirement liabilities 28.4 28.9 25.6 Refundable negative salvage 15.8 16.2 25.6 Accrued cost of removal 58.6 58.7 59.3 Other 26.3 15.5 12.4 Total Regulatory Liabilities (non-current) 129.1 119.3 122.9 Total Regulatory Liabilities $ 184.9 $ 179.9 $ 198.8 December 31, September 30, December 31, Laclede Gas 2015 2015 2014 Regulatory Assets: Current: Pension and postretirement benefit costs $ 20.2 $ 15.5 $ 15.0 Unamortized purchased gas adjustments 44.6 12.9 60.6 Other 0.7 0.7 3.0 Total Regulatory Assets (current) 65.5 29.1 78.6 Non-current: Future income taxes due from customers 138.7 134.5 121.3 Pension and postretirement benefit costs 362.2 368.0 361.6 Purchased gas costs 11.5 24.1 4.2 Energy efficiency 23.0 22.3 — Other 28.5 24.7 39.8 Total Regulatory Assets (non-current) 563.9 573.6 526.9 Total Regulatory Assets $ 629.4 $ 602.7 $ 605.5 Regulatory Liabilities: Current: Other $ 1.1 $ 0.6 $ 0.6 Total Regulatory Liabilities (current) 1.1 0.6 0.6 Non-current: Accrued cost of removal 58.6 58.7 59.3 Other 22.8 11.9 11.6 Total Regulatory Liabilities (non-current) 81.4 70.6 70.9 Total Regulatory Liabilities $ 82.5 $ 71.2 $ 71.5 December 31, September 30, December 31, Alagasco 2015 2015 2014 Regulatory Assets: Current: Pension and postretirement benefit costs $ 6.5 $ 6.5 $ 6.4 Other 4.3 4.9 2.2 Total Regulatory Assets (current) 10.8 11.4 8.6 Non-current: Pension and postretirement benefit costs 79.1 80.7 64.5 Cost of removal 79.4 78.9 21.1 Enhanced stability reserve — — 3.3 Other 4.0 4.0 — Total Regulatory Assets (non-current) 162.5 163.6 88.9 Total Regulatory Assets $ 173.3 $ 175.0 $ 97.5 Regulatory Liabilities: Current: RSE adjustment $ 11.1 $ 12.2 $ 17.0 Unbilled service margin 16.4 6.4 20.8 Pension and postretirement benefit costs — — 2.3 Refundable negative salvage 10.5 10.8 13.1 Unamortized purchased gas adjustments 14.3 28.2 22.1 Other 2.4 2.4 — Total Regulatory Liabilities (current) 54.7 60.0 75.3 Non-current: Postretirement liabilities 28.4 28.9 25.6 Refundable negative salvage 15.8 16.2 25.6 Other 3.5 3.6 0.7 Total Regulatory Liabilities (non-current) 47.7 48.7 51.9 Total Regulatory Liabilities $ 102.4 $ 108.7 $ 127.2 A portion of the Company's and Laclede Gas' regulatory assets are not earning a return, as shown in the schedule below: Laclede Group Laclede Gas December 31, September 30, December 31, December 31, September 30, December 31, ($ Millions) 2015 2015 2014 2015 2015 2014 Regulatory Assets Not Earning a Return: Future income taxes due from customers $ 138.7 $ 134.5 $ 121.3 $ 138.7 $ 134.5 $ 121.3 Pension and postretirement benefit costs 217.7 223.7 277.7 217.7 223.7 277.7 Other 13.5 14.2 15.6 13.5 14.2 15.6 Total Regulatory Assets Not Earning a Return $ 369.9 $ 372.4 $ 414.6 $ 369.9 $ 372.4 $ 414.6 |
Schedule of regulatory liabilities | The following regulatory assets and regulatory liabilities, including purchased gas adjustments, were reflected in the balance sheets of the Company and the Utilities as of December 31, 2015 , September 30, 2015 and December 31, 2014 . December 31, September 30, December 31, Laclede Group 2015 2015 2014 Regulatory Assets: Current: Pension and postretirement benefit costs $ 26.7 $ 22.0 $ 21.4 Unamortized purchased gas adjustments 44.6 12.9 60.6 Other 5.0 5.6 5.2 Total Regulatory Assets (current) 76.3 40.5 87.2 Non-current: Future income taxes due from customers 138.7 134.5 121.3 Pension and postretirement benefit costs 441.3 448.7 426.1 Cost of removal 79.4 78.9 21.1 Enhanced stability reserve — — 3.3 Purchased gas costs 11.5 24.1 4.2 Energy efficiency 23.0 22.3 — Other 33.1 29.1 39.8 Total Regulatory Assets (non-current) 727.0 737.6 615.8 Total Regulatory Assets $ 803.3 $ 778.1 $ 703.0 Regulatory Liabilities: Current: RSE adjustment $ 11.1 $ 12.2 $ 17.0 Unbilled service margin 16.4 6.4 20.8 Pension and postretirement benefit costs — — 2.3 Refundable negative salvage 10.5 10.8 13.1 Unamortized purchased gas adjustments 14.3 28.2 22.1 Other 3.5 3.0 0.6 Total Regulatory Liabilities (current) 55.8 60.6 75.9 Non-current: Postretirement liabilities 28.4 28.9 25.6 Refundable negative salvage 15.8 16.2 25.6 Accrued cost of removal 58.6 58.7 59.3 Other 26.3 15.5 12.4 Total Regulatory Liabilities (non-current) 129.1 119.3 122.9 Total Regulatory Liabilities $ 184.9 $ 179.9 $ 198.8 December 31, September 30, December 31, Laclede Gas 2015 2015 2014 Regulatory Assets: Current: Pension and postretirement benefit costs $ 20.2 $ 15.5 $ 15.0 Unamortized purchased gas adjustments 44.6 12.9 60.6 Other 0.7 0.7 3.0 Total Regulatory Assets (current) 65.5 29.1 78.6 Non-current: Future income taxes due from customers 138.7 134.5 121.3 Pension and postretirement benefit costs 362.2 368.0 361.6 Purchased gas costs 11.5 24.1 4.2 Energy efficiency 23.0 22.3 — Other 28.5 24.7 39.8 Total Regulatory Assets (non-current) 563.9 573.6 526.9 Total Regulatory Assets $ 629.4 $ 602.7 $ 605.5 Regulatory Liabilities: Current: Other $ 1.1 $ 0.6 $ 0.6 Total Regulatory Liabilities (current) 1.1 0.6 0.6 Non-current: Accrued cost of removal 58.6 58.7 59.3 Other 22.8 11.9 11.6 Total Regulatory Liabilities (non-current) 81.4 70.6 70.9 Total Regulatory Liabilities $ 82.5 $ 71.2 $ 71.5 December 31, September 30, December 31, Alagasco 2015 2015 2014 Regulatory Assets: Current: Pension and postretirement benefit costs $ 6.5 $ 6.5 $ 6.4 Other 4.3 4.9 2.2 Total Regulatory Assets (current) 10.8 11.4 8.6 Non-current: Pension and postretirement benefit costs 79.1 80.7 64.5 Cost of removal 79.4 78.9 21.1 Enhanced stability reserve — — 3.3 Other 4.0 4.0 — Total Regulatory Assets (non-current) 162.5 163.6 88.9 Total Regulatory Assets $ 173.3 $ 175.0 $ 97.5 Regulatory Liabilities: Current: RSE adjustment $ 11.1 $ 12.2 $ 17.0 Unbilled service margin 16.4 6.4 20.8 Pension and postretirement benefit costs — — 2.3 Refundable negative salvage 10.5 10.8 13.1 Unamortized purchased gas adjustments 14.3 28.2 22.1 Other 2.4 2.4 — Total Regulatory Liabilities (current) 54.7 60.0 75.3 Non-current: Postretirement liabilities 28.4 28.9 25.6 Refundable negative salvage 15.8 16.2 25.6 Other 3.5 3.6 0.7 Total Regulatory Liabilities (non-current) 47.7 48.7 51.9 Total Regulatory Liabilities $ 102.4 $ 108.7 $ 127.2 |
FAIR VALUE OF FINANCIAL INSTR21
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |
Fair value of financial instruments | The carrying amounts and estimated fair values of financial instruments not measured at fair value on a recurring basis for the Company are as follows: Classification of Estimated Fair Value Carrying Amount Fair Value Quoted Prices in Active Markets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) As of December 31, 2015 Cash and cash equivalents $ 4.6 $ 4.6 $ 4.6 $ — $ — Short-term debt 377.1 377.1 — 377.1 — Long-term debt 1,851.5 1,916.5 — 1,916.5 — As of September 30, 2015 Cash and cash equivalents $ 13.8 $ 13.8 $ 13.8 $ — $ — Short-term debt 338.0 338.0 — 338.0 — Long-term debt, including current portion 1,851.5 1,944.2 — 1,944.2 — As of December 31, 2014 Cash and cash equivalents $ 13.4 $ 13.4 $ 13.4 $ — $ — Short-term debt 397.5 397.5 — 397.5 — Long-term debt, including current portion 1,851.0 1,975.0 — 1,975.0 — |
Laclede Gas | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |
Fair value of financial instruments | The carrying amounts and estimated fair values of financial instruments not measured at fair value on a recurring basis for Laclede Gas are as follows: Classification of Estimated Fair Value Carrying Amount Fair Value Quoted Prices in Active Markets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) As of December 31, 2015 Cash and cash equivalents $ 1.3 $ 1.3 $ 1.3 $ — $ — Short-term debt 274.1 274.1 — 274.1 — Long-term debt 808.2 858.5 — 858.5 — As of September 30, 2015 Cash and cash equivalents $ 1.7 $ 1.7 $ 1.7 $ — $ — Short-term debt 233.0 233.0 — 233.0 — Long-term debt 808.1 880.2 — 880.2 — As of December 31, 2014 Cash and cash equivalents $ 5.9 $ 5.9 $ 5.9 $ — $ — Short-term debt 319.5 319.5 — 319.5 — Long-term debt 808.0 892.2 — 892.2 — |
Alagasco | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |
Fair value of financial instruments | The carrying amounts and estimated fair values of financial instruments not measured at fair value on a recurring basis for Alagasco are as follows: Classification of Estimated Fair Value Carrying Amount Fair Value Quoted Prices in Active Markets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) As of December 31, 2015 Cash and cash equivalents $ 0.1 $ 0.1 $ 0.1 $ — $ — Short-term debt 43.0 43.0 — 43.0 — Long-term debt 250.0 256.5 — 256.5 — As of September 30, 2015 Cash and cash equivalents $ 7.2 $ 7.2 $ 7.2 $ — $ — Short-term debt 31.0 31.0 — 31.0 — Long-term debt, including current portion 250.0 263.2 — 263.2 — As of December 31, 2014 Cash and cash equivalents $ 3.3 $ 3.3 $ 3.3 $ — $ — Short-term debt 21.5 21.5 — 21.5 — Long-term debt, including current portion 249.7 268.8 — 268.8 — |
FAIR VALUE MEASUREMENTS (Tables
FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurements, Measured on Recurring Basis | The following tables for Laclede Group and Laclede Gas categorize the assets and liabilities in the balance sheets that are accounted for at fair value on a recurring basis in periods subsequent to initial recognition. Currently Alagasco has no assets or liabilities that are accounted for at fair value on a recurring basis in periods subsequent to initial recognition. The mutual funds included in Level 1 are valued based on exchange-quoted market prices of individual securities. The mutual funds included in Level 2 are valued based on the closing net asset value per unit. Derivative instruments included in Level 1 are valued using quoted market prices on the New York Mercantile Exchange (NYMEX) or the Intercontinental Exchange (ICE). Derivative instruments classified in Level 2 include physical commodity derivatives that are valued using Over-the-Counter Bulletin Board (OTCBB), broker, or dealer quotation services whose prices are derived principally from, or are corroborated by, observable market inputs. Also included in Level 2 are certain derivative instruments that have values that are similar to, and correlate with, quoted prices for exchange-traded instruments in active markets and derivative instruments with settlement dates more than one year into the future. Derivative instruments included in Level 3 are valued using generally unobservable inputs that are based upon the best information available and reflect management’s assumptions about how market participants would price the asset or liability. The Level 3 balances as of December 31, 2015 and September 30, 2015 consisted of gas commodity contracts. The Company’s and the Utilities' policy is to recognize transfers between the levels of the fair value hierarchy, if any, as of the beginning of the interim reporting period in which circumstances change or events occur to cause the transfer. The mutual funds are included in "Other Investments" on the Company's balance sheets and in "Other Property and Investments" on Laclede Gas' balance sheets. Derivative assets and liabilities, including receivables and payables associated with cash margin requirements, are presented net in the balance sheets when a legally enforceable netting agreement exists between the Company or Laclede Gas and the counterparty to a derivative contract. Laclede Group Quoted Prices in Active Markets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Effects of Netting and Cash Margin Receivables /Payables Total As of December 31, 2015 ASSETS Gas Utility U. S. stock/bond mutual funds $ 15.9 $ 4.0 $ — $ — $ 19.9 NYMEX/ICE natural gas contracts 0.1 — — (0.1 ) — Subtotal 16.0 4.0 — (0.1 ) 19.9 Gas Marketing NYMEX/ICE natural gas contracts 4.1 5.8 — (6.9 ) 3.0 Natural gas commodity contracts — 1.9 0.2 (0.3 ) 1.8 Total $ 20.1 $ 11.7 $ 0.2 $ (7.3 ) $ 24.7 LIABILITIES Gas Utility NYMEX/ICE natural gas contracts $ 17.3 $ — $ — $ (17.3 ) $ — OTCBB natural gas contracts — 4.6 — — 4.6 NYMEX gasoline and heating oil contracts 0.1 — — (0.1 ) — Subtotal 17.4 4.6 — (17.4 ) 4.6 Gas Marketing NYMEX/ICE natural gas contracts 1.5 3.5 — (5.0 ) — Natural gas commodity contracts — 1.4 — (0.3 ) 1.1 Total $ 18.9 $ 9.5 $ — $ (22.7 ) $ 5.7 As of September 30, 2015 ASSETS Gas Utility U. S. stock/bond mutual funds $ 15.5 $ 4.0 $ — $ — $ 19.5 NYMEX/ICE natural gas contracts 1.3 — — (1.3 ) — Subtotal 16.8 4.0 — (1.3 ) 19.5 Gas Marketing NYMEX natural gas contracts 6.3 4.3 — (6.6 ) 4.0 Natural gas commodity contracts — 1.5 0.2 (0.5 ) 1.2 Total $ 23.1 $ 9.8 $ 0.2 $ (8.4 ) $ 24.7 LIABILITIES Gas Utility NYMEX/ICE natural gas contracts $ 16.4 $ — $ — $ (16.4 ) $ — OTCBB natural gas contracts — 5.9 — — 5.9 NYMEX gasoline and heating oil contracts 0.3 — — (0.3 ) — Subtotal 16.7 5.9 — (16.7 ) 5.9 Gas Marketing NYMEX/ICE natural gas contracts 1.2 3.9 — (5.1 ) — Natural gas commodity contracts — 2.2 — (0.5 ) 1.7 Total $ 17.9 $ 12.0 $ — $ (22.3 ) $ 7.6 Quoted Prices in Active Markets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Effects of Netting and Cash Margin Receivables /Payables Total December 31, 2014 ASSETS Gas Utility U. S. stock/bond mutual funds $ 16.3 $ 3.9 $ — $ — $ 20.2 Gas Marketing NYMEX/ICE natural gas contracts 5.4 1.0 — (4.3 ) 2.1 Natural gas commodity contracts — 4.1 0.2 (0.3 ) 4.0 Total $ 21.7 $ 9.0 $ 0.2 $ (4.6 ) $ 26.3 LIABILITIES Gas Utility NYMEX/ICE natural gas contracts $ 19.4 $ — $ — $ (19.4 ) $ — OTCBB natural gas contracts — 19.5 — — 19.5 NYMEX gasoline and heating oil contracts 1.3 — — (1.3 ) — Subtotal 20.7 19.5 — (20.7 ) 19.5 Gas Marketing NYMEX/ICE natural gas contracts 3.4 4.5 — (7.9 ) — Natural gas commodity contracts — 1.1 — (0.3 ) 0.8 Total $ 24.1 $ 25.1 $ — $ (28.9 ) $ 20.3 |
Laclede Gas | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Measurements, Measured on Recurring Basis | Quoted Prices in Active Markets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Effects of Netting and Cash Margin Receivables /Payables Total As of December 31, 2015 ASSETS U. S. stock/bond mutual funds $ 15.9 $ 4.0 $ — $ — $ 19.9 NYMEX/ICE natural gas contracts 0.1 — — (0.1 ) — Total 16.0 4.0 — (0.1 ) 19.9 LIABILITIES NYMEX/ICE natural gas contracts 17.3 — — (17.3 ) — OTCBB natural gas contracts — 4.6 — — 4.6 Gasoline and heating oil contracts 0.1 — — (0.1 ) — Total $ 17.4 $ 4.6 $ — $ (17.4 ) $ 4.6 As of September 30, 2015 ASSETS U. S. stock/bond mutual funds $ 15.5 $ 4.0 $ — $ — $ 19.5 NYMEX/ICE natural gas contracts 1.3 — — (1.3 ) — Total 16.8 4.0 — (1.3 ) 19.5 LIABILITIES NYMEX/ICE natural gas contracts 16.4 — — (16.4 ) — OTCBB natural gas contracts — 5.9 — — 5.9 NYMEX gasoline and heating oil contracts 0.3 — — (0.3 ) — Total $ 16.7 $ 5.9 $ — $ (16.7 ) $ 5.9 Quoted Prices in Active Markets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Effects of Netting and Cash Margin Receivables /Payables Total Balance at December 31, 2014 ASSETS U. S. Stock/Bond Mutual Funds $ 16.3 $ 3.9 $ — $ — $ 20.2 Total 16.3 3.9 — — 20.2 LIABILITIES NYMEX/ICE Natural gas contracts 19.4 — — (19.4 ) — OTCBB Natural gas contracts — 19.5 — — 19.5 Gasoline and heating oil contracts 1.3 — — (1.3 ) — Total $ 20.7 $ 19.5 $ — $ (20.7 ) $ 19.5 |
PENSION PLANS AND OTHER POSTR23
PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Pension Plans | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Net Periodic Cost | The net periodic pension cost included the following components: Three Months Ended December 31, 2015 2014 Laclede Group Service cost – benefits earned during the period $ 3.9 $ 4.3 Interest cost on projected benefit obligation 7.1 7.5 Expected return on plan assets (8.9 ) (9.4 ) Amortization of prior service cost 0.1 0.1 Amortization of actuarial loss 2.0 1.9 Special termination benefit 1.6 — Subtotal 5.8 4.4 Regulatory adjustment 5.0 4.9 Net pension cost $ 10.8 $ 9.3 |
Postretirement Plans | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Net Periodic Cost | Net periodic postretirement benefit cost for the Company consisted of the following components: Three Months Ended December 31, 2015 2014 Laclede Group Service cost – benefits earned during the period $ 2.8 $ 3.2 Interest cost on accumulated postretirement benefit obligation 2.5 2.8 Expected return on plan assets (3.4 ) (3.3 ) Amortization of prior service credit 0.1 0.2 Amortization of actuarial loss 0.9 1.3 Special termination benefit 2.6 — Subtotal 5.5 4.2 Regulatory adjustment (4.2 ) (2.7 ) Net postretirement benefit cost $ 1.3 $ 1.5 |
Laclede Gas | Pension Plans | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Net Periodic Cost | Laclede Gas Service cost – benefits earned during the period $ 2.5 $ 2.8 Interest cost on projected benefit obligation 5.4 5.9 Expected return on plan assets (6.7 ) (7.3 ) Amortization of prior service cost 0.1 0.1 Amortization of actuarial loss 2.0 1.9 Special termination benefit 1.6 — Subtotal 4.9 3.4 Regulatory adjustment 3.5 3.4 Net pension cost $ 8.4 $ 6.8 |
Laclede Gas | Postretirement Plans | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Net Periodic Cost | Laclede Gas Service cost – benefits earned during the period $ 2.7 $ 3.1 Interest cost on accumulated postretirement benefit obligation 2.0 2.1 Expected return on plan assets (2.1 ) (2.0 ) Amortization of prior service credit 0.1 0.2 Amortization of actuarial loss 1.0 1.3 Special termination benefit 2.6 — Subtotal 6.3 4.7 Regulatory adjustment (3.8 ) (2.3 ) Net postretirement benefit cost $ 2.5 $ 2.4 |
Alagasco | Pension Plans | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Net Periodic Cost | Alagasco Service cost – benefits earned during the period $ 1.4 $ 1.5 Interest cost on projected benefit obligation 1.7 1.6 Expected return on plan assets (2.2 ) (2.1 ) Subtotal 0.9 1.0 Regulatory adjustment 1.5 1.5 Net pension cost $ 2.4 $ 2.5 |
Alagasco | Postretirement Plans | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Net Periodic Cost | Alagasco Service cost – benefits earned during the period $ 0.1 $ 0.1 Interest cost on accumulated postretirement benefit obligation 0.5 0.7 Expected return on plan assets (1.3 ) (1.3 ) Amortization of actuarial gain (0.1 ) — Subtotal (0.8 ) (0.5 ) Regulatory adjustment (0.4 ) (0.4 ) Net postretirement benefit income $ (1.2 ) $ (0.9 ) |
INFORMATION BY OPERATING SEGM24
INFORMATION BY OPERATING SEGMENT (Tables) | 3 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Schedule of operating segment information | Gas Utility Gas Marketing Other Eliminations Consolidated Three Months Ended December 31, 2015 Operating Revenues: Revenues from external customers $ 398.8 $ 0.2 $ 0.4 $ — $ 399.4 Intersegment revenues 0.7 12.6 0.4 (13.7 ) — Total Operating Revenues 399.5 12.8 0.8 (13.7 ) 399.4 Operating Expenses: Gas Utility Natural and propane gas 161.9 — — (13.4 ) 148.5 Other operation and maintenance 91.9 — — (0.3 ) 91.6 Depreciation and amortization 33.5 — — — 33.5 Taxes, other than income taxes 28.2 — — — 28.2 Total Gas Utility Operating Expenses 315.5 — — (13.7 ) 301.8 Gas Marketing and Other — 9.0 1.6 — 10.6 Total Operating Expenses 315.5 9.0 1.6 (13.7 ) 312.4 Operating Income (Loss) $ 84.0 $ 3.8 $ (0.8 ) $ — $ 87.0 Net Economic Earnings (Loss) $ 50.0 $ (0.3 ) $ (4.6 ) $ — $ 45.1 Three Months Ended December 31, 2014 Operating Revenues: Revenues from external customers $ 581.4 $ 37.8 $ 0.4 $ — $ 619.6 Intersegment revenues 1.0 24.4 0.5 (25.9 ) — Total Operating Revenues 582.4 62.2 0.9 (25.9 ) 619.6 Operating Expenses: Gas Utility Natural and propane gas 329.8 — — (25.5 ) 304.3 Other operation and maintenance 97.4 — — (0.3 ) 97.1 Depreciation and amortization 32.0 — — — 32.0 Taxes, other than income taxes 38.0 — — — 38.0 Total Gas Utility Operating Expenses 497.2 — — (25.8 ) 471.4 Gas Marketing and Other — 58.6 2.4 (0.1 ) 60.9 Total Operating Expenses 497.2 58.6 2.4 (25.9 ) 532.3 Operating Income (Loss) $ 85.2 $ 3.6 $ (1.5 ) $ — $ 87.3 Net Economic Earnings (Loss) $ 49.8 $ 0.4 $ (4.5 ) $ — $ 45.7 The Company's total assets by segment were as follows: December 31, September 30, December 31, 2015 2015 2014 Total Assets: Gas Utility $ 4,806.0 $ 4,686.2 $ 4,735.6 Gas Marketing 163.8 160.6 152.7 Other 1,551.1 1,560.2 1,576.1 Eliminations (1,109.5 ) (1,116.8 ) (1,175.9 ) Total Assets $ 5,411.4 $ 5,290.2 $ 5,288.5 |
Schedule of the reconciliation of consolidated net economic earnings to consolidated net income | The following table reconciles the Company's net income to net economic earnings: Three Months Ended December 31, 2015 2014 Net Income (GAAP) $ 46.9 $ 47.1 Unrealized gain on energy-related derivative contracts (3.0 ) (3.0 ) Lower of cost or market inventory adjustments 0.3 1.2 Acquisition, divestiture and restructuring activities 0.9 0.4 Net Economic Earnings (Non-GAAP) $ 45.1 $ 45.7 |
SUMMARY OF SIGNIFICANT ACCOUN25
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ in Millions | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2015USD ($)operating_segment | Dec. 31, 2014USD ($) | Sep. 30, 2015USD ($) | |
Related Party Transaction [Line Items] | |||
Number of operating segments | operating_segment | 2 | ||
Finance receivables, net | $ 11.2 | $ 11.1 | $ 11.2 |
Laclede Gas | |||
Related Party Transaction [Line Items] | |||
Accrued unbilled revenues | 74.6 | 102.2 | 27.6 |
Accruals for capital expenditures | 4.6 | 2.5 | 9.6 |
Alagasco | |||
Related Party Transaction [Line Items] | |||
Accrued unbilled revenues | 16.4 | 20.8 | 6.4 |
Accruals for capital expenditures | $ 3.1 | 4.8 | 3.1 |
Threshold period past due for collection | 90 days | ||
Threshold period past due for write-off of financing receivable | 12 months | ||
Write-off on an allowance for credit losses | $ 0.4 | 0.3 | 0.4 |
Alagasco | Financing Receivables, Equal to Greater than 90 Days Past Due | |||
Related Party Transaction [Line Items] | |||
Financing receivable 90 days past due | $ 0.4 | $ 0.3 | $ 0.4 |
SUMMARY OF SIGNIFICANT ACCOUN26
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Gross Receipts Taxes (Details) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Schedule of Gross Receipts Taxes [Line Items] | ||
Gross Receipts taxes recorded in regulated gas distribution operating revenues | $ 17.9 | $ 27.7 |
Laclede Gas | ||
Schedule of Gross Receipts Taxes [Line Items] | ||
Gross Receipts taxes recorded in regulated gas distribution operating revenues | 13.9 | 21.9 |
Alagasco | ||
Schedule of Gross Receipts Taxes [Line Items] | ||
Gross Receipts taxes recorded in regulated gas distribution operating revenues | $ 4 | $ 5.8 |
SUMMARY OF SIGNIFICANT ACCOUN27
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Inter-company Transactions (Details) - Affiliated Entity - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Regulated Operation | Laclede Gas | Laclede Energy Resources | ||
Related Party Transaction [Line Items] | ||
Revenue from related parties | $ 13.2 | $ 25.3 |
Regulated Operation | Laclede Gas | Laclede Risk Services [Member] | ||
Related Party Transaction [Line Items] | ||
Revenue from related parties | 0.2 | 0.2 |
Regulated Operation | Laclede Energy Resources | Laclede Gas | ||
Related Party Transaction [Line Items] | ||
Revenue from related parties | 0.7 | 1 |
Unregulated Operation | Laclede Gas | Laclede Pipeline Company | ||
Related Party Transaction [Line Items] | ||
Revenue from related parties | $ 0.3 | $ 0.3 |
EARNINGS PER COMMON SHARE (Deta
EARNINGS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 1 Months Ended | 3 Months Ended | |
Jun. 30, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | |
Basic EPS: | |||
Net Income | $ 46.9 | $ 47.1 | |
Less: Income allocated to participating securities | 0.2 | 0.2 | |
Net Income Available to Common Shareholders | $ 46.7 | $ 46.9 | |
Weighted Average Shares Outstanding, Basic (in Shares) | 43.2 | 43.1 | |
Basic Earnings Per Share of Common Stock (in dollars per share) | $ 1.08 | $ 1.09 | |
Diluted EPS: | |||
Net Income | $ 46.9 | $ 47.1 | |
Less: Income allocated to participating securities | 0.2 | 0.2 | |
Net Income Available to Common Shareholders | $ 46.7 | $ 46.9 | |
Weighted Average Shares Outstanding, Basic (in Shares) | 43.2 | 43.1 | |
Dilutive Effect of Stock Options, Restricted Stock and Restricted Stock Units (in shares) | 0.2 | 0.1 | |
Weighted Average Diluted Shares (in shares) | 43.4 | 43.2 | |
Diluted Earnings Per Share of Common Stock (in dollars per share) | $ 1.08 | $ 1.09 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Equity units, contract annual rate | 2.00% | ||
Restricted stock and stock units subject to performance and/or market conditions | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Outstanding shares excluded from calculation of diluted EPS (in shares) | 0.4 | 0.3 |
REGULATORY MATTERS - Schedule
REGULATORY MATTERS - Schedule of Regulatory Assets and Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 |
Regulatory Assets [Line Items] | |||
Regulatory Assets: Current | $ 31.7 | $ 27.6 | $ 26.6 |
Regulatory Assets: Non-current | 727 | 737.6 | 615.8 |
Total Regulatory Assets | 803.3 | 778.1 | 703 |
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Current | 41.5 | 32.4 | 53.8 |
Regulatory Liabilities: Non-current | 129.1 | 119.3 | 122.9 |
Total Regulatory Liabilities | 184.9 | 179.9 | 198.8 |
RSE adjustment | |||
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Current | 11.1 | 12.2 | 17 |
Unbilled service margin | |||
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Current | 16.4 | 6.4 | 20.8 |
Pension and postretirement benefit costs | |||
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Current | 0 | 0 | 2.3 |
Refundable negative salvage | |||
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Current | 10.5 | 10.8 | 13.1 |
Regulatory Liabilities: Non-current | 15.8 | 16.2 | 25.6 |
Unamortized purchased gas adjustments | |||
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Current | 14.3 | 28.2 | 22.1 |
Other | |||
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Current | 3.5 | 3 | 0.6 |
Regulatory Liabilities: Non-current | 26.3 | 15.5 | 12.4 |
Postretirement liabilities | |||
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Non-current | 28.4 | 28.9 | 25.6 |
Accrued cost of removal | |||
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Non-current | 58.6 | 58.7 | 59.3 |
Total Regulatory Liabilities (current) | |||
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Current | 55.8 | 60.6 | 75.9 |
Total Regulatory Liabilities (non-current) | |||
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Non-current | 129.1 | 119.3 | 122.9 |
Pension and postretirement benefit costs | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Current | 26.7 | 22 | 21.4 |
Regulatory Assets: Non-current | 441.3 | 448.7 | 426.1 |
Unamortized purchased gas adjustments | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Current | 44.6 | 12.9 | 60.6 |
Other | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Current | 5 | 5.6 | 5.2 |
Regulatory Assets: Non-current | 33.1 | 29.1 | 39.8 |
Future income taxes due from customers | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Non-current | 138.7 | 134.5 | 121.3 |
Accrued cost of removal | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Non-current | 79.4 | 78.9 | 21.1 |
Enhanced stability reserve | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Non-current | 0 | 0 | 3.3 |
Purchased gas costs | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Non-current | 11.5 | 24.1 | 4.2 |
Energy efficiency | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Non-current | 23 | 22.3 | 0 |
Total Regulatory Assets (current) | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Current | 76.3 | 40.5 | 87.2 |
Total Regulatory Assets (non-current) | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Non-current | 727 | 737.6 | 615.8 |
Laclede Gas | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Non-current | 563.9 | 573.6 | 526.9 |
Total Regulatory Assets | 629.4 | 602.7 | 605.5 |
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Current | 1.1 | 0.6 | 0.6 |
Regulatory Liabilities: Non-current | 81.4 | 70.6 | 70.9 |
Total Regulatory Liabilities | 82.5 | 71.2 | 71.5 |
Laclede Gas | Other | |||
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Current | 1.1 | 0.6 | 0.6 |
Regulatory Liabilities: Non-current | 22.8 | 11.9 | 11.6 |
Laclede Gas | Accrued cost of removal | |||
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Non-current | 58.6 | 58.7 | 59.3 |
Laclede Gas | Total Regulatory Liabilities (current) | |||
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Current | 1.1 | 0.6 | 0.6 |
Laclede Gas | Total Regulatory Liabilities (non-current) | |||
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Non-current | 81.4 | 70.6 | 70.9 |
Laclede Gas | Pension and postretirement benefit costs | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Current | 20.2 | 15.5 | 15 |
Regulatory Assets: Non-current | 362.2 | 368 | 361.6 |
Laclede Gas | Unamortized purchased gas adjustments | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Current | 44.6 | 12.9 | 60.6 |
Laclede Gas | Other | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Current | 0.7 | 0.7 | 3 |
Regulatory Assets: Non-current | 28.5 | 24.7 | 39.8 |
Laclede Gas | Future income taxes due from customers | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Non-current | 138.7 | 134.5 | 121.3 |
Laclede Gas | Purchased gas costs | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Non-current | 11.5 | 24.1 | 4.2 |
Laclede Gas | Energy efficiency | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Non-current | 23 | 22.3 | 0 |
Laclede Gas | Total Regulatory Assets (current) | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Current | 65.5 | 29.1 | 78.6 |
Laclede Gas | Total Regulatory Assets (non-current) | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Non-current | 563.9 | 573.6 | 526.9 |
Alagasco | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Current | 10.8 | 11.4 | 8.6 |
Regulatory Assets: Non-current | 162.5 | 163.6 | 88.9 |
Total Regulatory Assets | 173.3 | 175 | 97.5 |
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Current | 40.4 | 31.8 | 53.2 |
Regulatory Liabilities: Non-current | 47.7 | 48.7 | 51.9 |
Total Regulatory Liabilities | 102.4 | 108.7 | 127.2 |
Alagasco | RSE adjustment | |||
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Current | 11.1 | 12.2 | 17 |
Alagasco | Unbilled service margin | |||
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Current | 16.4 | 6.4 | 20.8 |
Alagasco | Pension and postretirement benefit costs | |||
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Current | 0 | 0 | 2.3 |
Alagasco | Refundable negative salvage | |||
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Current | 10.5 | 10.8 | 13.1 |
Regulatory Liabilities: Non-current | 15.8 | 16.2 | 25.6 |
Alagasco | Unamortized purchased gas adjustments | |||
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Current | 14.3 | 28.2 | 22.1 |
Alagasco | Other | |||
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Current | 2.4 | 2.4 | 0 |
Regulatory Liabilities: Non-current | 3.5 | 3.6 | 0.7 |
Alagasco | Postretirement liabilities | |||
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Non-current | 28.4 | 28.9 | 25.6 |
Alagasco | Total Regulatory Liabilities (current) | |||
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Current | 54.7 | 60 | 75.3 |
Alagasco | Total Regulatory Liabilities (non-current) | |||
Regulatory Liabilities [Line Items] | |||
Regulatory Liabilities: Non-current | 47.7 | 48.7 | 51.9 |
Alagasco | Pension and postretirement benefit costs | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Current | 6.5 | 6.5 | 6.4 |
Regulatory Assets: Non-current | 79.1 | 80.7 | 64.5 |
Alagasco | Other | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Current | 4.3 | 4.9 | 2.2 |
Regulatory Assets: Non-current | 4 | 4 | 0 |
Alagasco | Accrued cost of removal | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Non-current | 79.4 | 78.9 | 21.1 |
Alagasco | Enhanced stability reserve | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Non-current | 0 | 0 | 3.3 |
Alagasco | Total Regulatory Assets (current) | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Current | 10.8 | 11.4 | 8.6 |
Alagasco | Total Regulatory Assets (non-current) | |||
Regulatory Assets [Line Items] | |||
Regulatory Assets: Non-current | $ 162.5 | $ 163.6 | $ 88.9 |
REGULATORY MATTERS - Schedul30
REGULATORY MATTERS - Schedule of Regulatory Assets Not Earnings a Return (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 |
Regulatory Assets [Line Items] | |||
Total Regulatory Assets Not Earning a Return | $ 369.9 | $ 372.4 | $ 414.6 |
Future income taxes due from customers | |||
Regulatory Assets [Line Items] | |||
Total Regulatory Assets Not Earning a Return | 138.7 | 134.5 | 121.3 |
Pension and postretirement benefit costs | |||
Regulatory Assets [Line Items] | |||
Total Regulatory Assets Not Earning a Return | 217.7 | 223.7 | 277.7 |
Other | |||
Regulatory Assets [Line Items] | |||
Total Regulatory Assets Not Earning a Return | 13.5 | 14.2 | 15.6 |
Laclede Gas | |||
Regulatory Assets [Line Items] | |||
Total Regulatory Assets Not Earning a Return | 369.9 | 372.4 | 414.6 |
Laclede Gas | Future income taxes due from customers | |||
Regulatory Assets [Line Items] | |||
Total Regulatory Assets Not Earning a Return | 138.7 | 134.5 | 121.3 |
Laclede Gas | Pension and postretirement benefit costs | |||
Regulatory Assets [Line Items] | |||
Total Regulatory Assets Not Earning a Return | 217.7 | 223.7 | 277.7 |
Laclede Gas | Other | |||
Regulatory Assets [Line Items] | |||
Total Regulatory Assets Not Earning a Return | $ 13.5 | $ 14.2 | $ 15.6 |
REGULATORY MATTERS (Details)
REGULATORY MATTERS (Details) | 3 Months Ended |
Dec. 31, 2015 | |
Regulated Operations [Abstract] | |
Remaining recovery period for regulatory assets for which no return on investment during recovery period is provided | 15 years |
FAIR VALUE OF FINANCIAL INSTR32
FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | $ 4.6 | $ 13.8 | $ 13.4 | $ 16.1 |
Carrying Amount | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 4.6 | 13.8 | 13.4 | |
Short-term debt | 377.1 | 338 | 397.5 | |
Long-term debt, including current portion | 1,851.5 | 1,851.5 | 1,851 | |
Fair Value | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 4.6 | 13.8 | 13.4 | |
Short-term debt | 377.1 | 338 | 397.5 | |
Long-term debt, including current portion | 1,916.5 | 1,944.2 | 1,975 | |
Laclede Gas | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 1.3 | 1.7 | 5.9 | 3.7 |
Laclede Gas | Carrying Amount | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 1.3 | 1.7 | 5.9 | |
Short-term debt | 274.1 | 233 | 319.5 | |
Long-term debt, including current portion | 808.2 | 808.1 | 808 | |
Laclede Gas | Fair Value | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 1.3 | 1.7 | 5.9 | |
Short-term debt | 274.1 | 233 | 319.5 | |
Long-term debt, including current portion | 858.5 | 880.2 | 892.2 | |
Alagasco | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 0.1 | 7.2 | 3.3 | $ 5.6 |
Alagasco | Carrying Amount | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 0.1 | 7.2 | 3.3 | |
Short-term debt | 43 | 31 | 21.5 | |
Long-term debt, including current portion | 250 | 250 | 249.7 | |
Alagasco | Fair Value | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 0.1 | 7.2 | 3.3 | |
Short-term debt | 43 | 31 | 21.5 | |
Long-term debt, including current portion | 256.5 | 263.2 | 268.8 | |
Quoted Prices in Active Markets (Level 1) | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 4.6 | 13.8 | 13.4 | |
Short-term debt | 0 | 0 | 0 | |
Long-term debt, including current portion | 0 | 0 | 0 | |
Quoted Prices in Active Markets (Level 1) | Laclede Gas | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 1.3 | 1.7 | 5.9 | |
Short-term debt | 0 | 0 | 0 | |
Long-term debt, including current portion | 0 | 0 | 0 | |
Quoted Prices in Active Markets (Level 1) | Alagasco | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 0.1 | 7.2 | 3.3 | |
Short-term debt | 0 | 0 | 0 | |
Long-term debt, including current portion | 0 | 0 | 0 | |
Significant Observable Inputs (Level 2) | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | 0 | |
Short-term debt | 377.1 | 338 | 397.5 | |
Long-term debt, including current portion | 1,916.5 | 1,944.2 | 1,975 | |
Significant Observable Inputs (Level 2) | Laclede Gas | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | 0 | |
Short-term debt | 274.1 | 233 | 319.5 | |
Long-term debt, including current portion | 858.5 | 880.2 | 892.2 | |
Significant Observable Inputs (Level 2) | Alagasco | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | 0 | |
Short-term debt | 43 | 31 | 21.5 | |
Long-term debt, including current portion | 256.5 | 263.2 | 268.8 | |
Significant Unobservable Inputs (Level 3) | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | 0 | |
Short-term debt | 0 | 0 | 0 | |
Long-term debt, including current portion | 0 | 0 | 0 | |
Significant Unobservable Inputs (Level 3) | Laclede Gas | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | 0 | |
Short-term debt | 0 | 0 | 0 | |
Long-term debt, including current portion | 0 | 0 | 0 | |
Significant Unobservable Inputs (Level 3) | Alagasco | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | 0 | |
Short-term debt | 0 | 0 | 0 | |
Long-term debt, including current portion | $ 0 | $ 0 | $ 0 |
FAIR VALUE MEASUREMENTS (Detail
FAIR VALUE MEASUREMENTS (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 |
Laclede Gas | |||
ASSETS | |||
Effects of Netting and Cash Margin Receivables /Payables | $ (0.1) | $ (1.3) | $ 0 |
Derivative asset | 19.9 | 19.5 | 20.2 |
LIABILITIES | |||
Effects of Netting and Cash Margin Receivables /Payables | (17.4) | (16.7) | (20.7) |
Derivative liability | 4.6 | 5.9 | 19.5 |
Quoted Prices in Active Markets (Level 1) | Laclede Gas | |||
ASSETS | |||
Derivative asset before netting adjustment | 16 | 16.8 | 16.3 |
LIABILITIES | |||
Derivative liability before netting adjustment | 17.4 | 16.7 | 20.7 |
Significant Observable Inputs (Level 2) | Laclede Gas | |||
ASSETS | |||
Derivative asset before netting adjustment | 4 | 4 | 3.9 |
LIABILITIES | |||
Derivative liability before netting adjustment | 4.6 | 5.9 | 19.5 |
Significant Unobservable Inputs (Level 3) | Laclede Gas | |||
ASSETS | |||
Derivative asset before netting adjustment | 0 | 0 | 0 |
LIABILITIES | |||
Derivative liability before netting adjustment | 0 | 0 | 0 |
U. S. stock/bond mutual funds | Laclede Gas | |||
ASSETS | |||
Effects of Netting and Cash Margin Receivables /Payables | 0 | 0 | 0 |
Derivative asset | 19.9 | 19.5 | 20.2 |
U. S. stock/bond mutual funds | Quoted Prices in Active Markets (Level 1) | Laclede Gas | |||
ASSETS | |||
Derivative asset before netting adjustment | 15.9 | 15.5 | 16.3 |
U. S. stock/bond mutual funds | Significant Observable Inputs (Level 2) | Laclede Gas | |||
ASSETS | |||
Derivative asset before netting adjustment | 4 | 4 | 3.9 |
U. S. stock/bond mutual funds | Significant Unobservable Inputs (Level 3) | Laclede Gas | |||
ASSETS | |||
Derivative asset before netting adjustment | 0 | 0 | 0 |
NYMEX/ICE natural gas contracts | Laclede Gas | |||
ASSETS | |||
Effects of Netting and Cash Margin Receivables /Payables | (0.1) | (1.3) | |
Derivative asset | 0 | 0 | |
LIABILITIES | |||
Effects of Netting and Cash Margin Receivables /Payables | (17.3) | (16.4) | (19.4) |
Derivative liability | 0 | 0 | 0 |
NYMEX/ICE natural gas contracts | Quoted Prices in Active Markets (Level 1) | Laclede Gas | |||
ASSETS | |||
Derivative asset before netting adjustment | 0.1 | 1.3 | |
LIABILITIES | |||
Derivative liability before netting adjustment | 17.3 | 16.4 | 19.4 |
NYMEX/ICE natural gas contracts | Significant Observable Inputs (Level 2) | Laclede Gas | |||
ASSETS | |||
Derivative asset before netting adjustment | 0 | 0 | |
LIABILITIES | |||
Derivative liability before netting adjustment | 0 | 0 | 0 |
NYMEX/ICE natural gas contracts | Significant Unobservable Inputs (Level 3) | Laclede Gas | |||
ASSETS | |||
Derivative asset before netting adjustment | 0 | 0 | |
LIABILITIES | |||
Derivative liability before netting adjustment | 0 | 0 | 0 |
OTCBB natural gas contracts | Laclede Gas | |||
LIABILITIES | |||
Effects of Netting and Cash Margin Receivables /Payables | 0 | 0 | 0 |
Derivative liability | 4.6 | 5.9 | 19.5 |
OTCBB natural gas contracts | Quoted Prices in Active Markets (Level 1) | Laclede Gas | |||
LIABILITIES | |||
Derivative liability before netting adjustment | 0 | 0 | 0 |
OTCBB natural gas contracts | Significant Observable Inputs (Level 2) | Laclede Gas | |||
LIABILITIES | |||
Derivative liability before netting adjustment | 4.6 | 5.9 | 19.5 |
OTCBB natural gas contracts | Significant Unobservable Inputs (Level 3) | Laclede Gas | |||
LIABILITIES | |||
Derivative liability before netting adjustment | 0 | 0 | 0 |
NYMEX gasoline and heating oil contracts | Laclede Gas | |||
LIABILITIES | |||
Effects of Netting and Cash Margin Receivables /Payables | (0.3) | ||
Derivative liability | 0 | ||
NYMEX gasoline and heating oil contracts | Quoted Prices in Active Markets (Level 1) | Laclede Gas | |||
LIABILITIES | |||
Derivative liability before netting adjustment | 0.3 | ||
NYMEX gasoline and heating oil contracts | Significant Observable Inputs (Level 2) | Laclede Gas | |||
LIABILITIES | |||
Derivative liability before netting adjustment | 0 | ||
NYMEX gasoline and heating oil contracts | Significant Unobservable Inputs (Level 3) | Laclede Gas | |||
LIABILITIES | |||
Derivative liability before netting adjustment | 0 | ||
Gasoline and heating oil contracts | Laclede Gas | |||
LIABILITIES | |||
Effects of Netting and Cash Margin Receivables /Payables | (0.1) | (1.3) | |
Derivative liability | 0 | 0 | |
Gasoline and heating oil contracts | Quoted Prices in Active Markets (Level 1) | Laclede Gas | |||
LIABILITIES | |||
Derivative liability before netting adjustment | 0.1 | 1.3 | |
Gasoline and heating oil contracts | Significant Observable Inputs (Level 2) | Laclede Gas | |||
LIABILITIES | |||
Derivative liability before netting adjustment | 0 | 0 | |
Gasoline and heating oil contracts | Significant Unobservable Inputs (Level 3) | Laclede Gas | |||
LIABILITIES | |||
Derivative liability before netting adjustment | 0 | 0 | |
Gas Utility | |||
ASSETS | |||
Effects of Netting and Cash Margin Receivables /Payables | (0.1) | (1.3) | |
Derivative asset | 19.9 | 19.5 | |
LIABILITIES | |||
Effects of Netting and Cash Margin Receivables /Payables | (17.4) | (16.7) | (20.7) |
Derivative liability | 4.6 | 5.9 | 19.5 |
Gas Utility | Quoted Prices in Active Markets (Level 1) | |||
ASSETS | |||
Derivative asset before netting adjustment | 16 | 16.8 | |
LIABILITIES | |||
Derivative liability before netting adjustment | 17.4 | 16.7 | 20.7 |
Gas Utility | Significant Observable Inputs (Level 2) | |||
ASSETS | |||
Derivative asset before netting adjustment | 4 | 4 | |
LIABILITIES | |||
Derivative liability before netting adjustment | 4.6 | 5.9 | 19.5 |
Gas Utility | Significant Unobservable Inputs (Level 3) | |||
ASSETS | |||
Derivative asset before netting adjustment | 0 | 0 | |
LIABILITIES | |||
Derivative liability before netting adjustment | 0 | 0 | 0 |
Gas Utility | U. S. stock/bond mutual funds | |||
ASSETS | |||
Effects of Netting and Cash Margin Receivables /Payables | 0 | 0 | 0 |
Derivative asset | 19.9 | 19.5 | 20.2 |
Gas Utility | U. S. stock/bond mutual funds | Quoted Prices in Active Markets (Level 1) | |||
ASSETS | |||
Derivative asset before netting adjustment | 15.9 | 15.5 | 16.3 |
Gas Utility | U. S. stock/bond mutual funds | Significant Observable Inputs (Level 2) | |||
ASSETS | |||
Derivative asset before netting adjustment | 4 | 4 | 3.9 |
Gas Utility | U. S. stock/bond mutual funds | Significant Unobservable Inputs (Level 3) | |||
ASSETS | |||
Derivative asset before netting adjustment | 0 | 0 | 0 |
Gas Utility | NYMEX/ICE natural gas contracts | |||
ASSETS | |||
Effects of Netting and Cash Margin Receivables /Payables | (0.1) | (1.3) | |
Derivative asset | 0 | 0 | |
LIABILITIES | |||
Effects of Netting and Cash Margin Receivables /Payables | (17.3) | (16.4) | (19.4) |
Derivative liability | 0 | 0 | 0 |
Gas Utility | NYMEX/ICE natural gas contracts | Quoted Prices in Active Markets (Level 1) | |||
ASSETS | |||
Derivative asset before netting adjustment | 0.1 | 1.3 | |
LIABILITIES | |||
Derivative liability before netting adjustment | 17.3 | 16.4 | 19.4 |
Gas Utility | NYMEX/ICE natural gas contracts | Significant Observable Inputs (Level 2) | |||
ASSETS | |||
Derivative asset before netting adjustment | 0 | 0 | |
LIABILITIES | |||
Derivative liability before netting adjustment | 0 | 0 | 0 |
Gas Utility | NYMEX/ICE natural gas contracts | Significant Unobservable Inputs (Level 3) | |||
ASSETS | |||
Derivative asset before netting adjustment | 0 | 0 | |
LIABILITIES | |||
Derivative liability before netting adjustment | 0 | 0 | 0 |
Gas Utility | OTCBB natural gas contracts | |||
LIABILITIES | |||
Effects of Netting and Cash Margin Receivables /Payables | 0 | 0 | 0 |
Derivative liability | 4.6 | 5.9 | 19.5 |
Gas Utility | OTCBB natural gas contracts | Quoted Prices in Active Markets (Level 1) | |||
LIABILITIES | |||
Derivative liability before netting adjustment | 0 | 0 | 0 |
Gas Utility | OTCBB natural gas contracts | Significant Observable Inputs (Level 2) | |||
LIABILITIES | |||
Derivative liability before netting adjustment | 4.6 | 5.9 | 19.5 |
Gas Utility | OTCBB natural gas contracts | Significant Unobservable Inputs (Level 3) | |||
LIABILITIES | |||
Derivative liability before netting adjustment | 0 | 0 | 0 |
Gas Utility | NYMEX gasoline and heating oil contracts | |||
LIABILITIES | |||
Effects of Netting and Cash Margin Receivables /Payables | (0.1) | (0.3) | (1.3) |
Derivative liability | 0 | 0 | 0 |
Gas Utility | NYMEX gasoline and heating oil contracts | Quoted Prices in Active Markets (Level 1) | |||
LIABILITIES | |||
Derivative liability before netting adjustment | 0.1 | 0.3 | 1.3 |
Gas Utility | NYMEX gasoline and heating oil contracts | Significant Observable Inputs (Level 2) | |||
LIABILITIES | |||
Derivative liability before netting adjustment | 0 | 0 | 0 |
Gas Utility | NYMEX gasoline and heating oil contracts | Significant Unobservable Inputs (Level 3) | |||
LIABILITIES | |||
Derivative liability before netting adjustment | 0 | 0 | 0 |
Gas Marketing | |||
ASSETS | |||
Effects of Netting and Cash Margin Receivables /Payables | (8.4) | ||
Derivative asset | 24.7 | ||
LIABILITIES | |||
Effects of Netting and Cash Margin Receivables /Payables | (22.7) | (22.3) | (28.9) |
Derivative liability | 5.7 | 7.6 | 20.3 |
Gas Marketing | Quoted Prices in Active Markets (Level 1) | |||
ASSETS | |||
Derivative asset before netting adjustment | 23.1 | ||
LIABILITIES | |||
Derivative liability before netting adjustment | 18.9 | 17.9 | 24.1 |
Gas Marketing | Significant Observable Inputs (Level 2) | |||
ASSETS | |||
Derivative asset before netting adjustment | 9.8 | ||
LIABILITIES | |||
Derivative liability before netting adjustment | 9.5 | 12 | 25.1 |
Gas Marketing | Significant Unobservable Inputs (Level 3) | |||
ASSETS | |||
Derivative asset before netting adjustment | 0.2 | ||
LIABILITIES | |||
Derivative liability before netting adjustment | 0 | 0 | 0 |
Gas Marketing | U. S. stock/bond mutual funds | |||
ASSETS | |||
Effects of Netting and Cash Margin Receivables /Payables | (7.3) | (4.6) | |
Derivative asset | 24.7 | 26.3 | |
Gas Marketing | U. S. stock/bond mutual funds | Quoted Prices in Active Markets (Level 1) | |||
ASSETS | |||
Derivative asset before netting adjustment | 20.1 | 21.7 | |
Gas Marketing | U. S. stock/bond mutual funds | Significant Observable Inputs (Level 2) | |||
ASSETS | |||
Derivative asset before netting adjustment | 11.7 | 9 | |
Gas Marketing | U. S. stock/bond mutual funds | Significant Unobservable Inputs (Level 3) | |||
ASSETS | |||
Derivative asset before netting adjustment | 0.2 | 0.2 | |
Gas Marketing | NYMEX/ICE natural gas contracts | |||
ASSETS | |||
Effects of Netting and Cash Margin Receivables /Payables | (6.9) | (6.6) | (4.3) |
Derivative asset | 3 | 4 | 2.1 |
LIABILITIES | |||
Effects of Netting and Cash Margin Receivables /Payables | (5) | (5.1) | (7.9) |
Derivative liability | 0 | 0 | 0 |
Gas Marketing | NYMEX/ICE natural gas contracts | Quoted Prices in Active Markets (Level 1) | |||
ASSETS | |||
Derivative asset before netting adjustment | 4.1 | 6.3 | 5.4 |
LIABILITIES | |||
Derivative liability before netting adjustment | 1.5 | 1.2 | 3.4 |
Gas Marketing | NYMEX/ICE natural gas contracts | Significant Observable Inputs (Level 2) | |||
ASSETS | |||
Derivative asset before netting adjustment | 5.8 | 4.3 | 1 |
LIABILITIES | |||
Derivative liability before netting adjustment | 3.5 | 3.9 | 4.5 |
Gas Marketing | NYMEX/ICE natural gas contracts | Significant Unobservable Inputs (Level 3) | |||
ASSETS | |||
Derivative asset before netting adjustment | 0 | 0 | 0 |
LIABILITIES | |||
Derivative liability before netting adjustment | 0 | 0 | 0 |
Gas Marketing | Natural gas commodity contracts | |||
ASSETS | |||
Effects of Netting and Cash Margin Receivables /Payables | (0.3) | (0.5) | (0.3) |
Derivative asset | 1.8 | 1.2 | 4 |
LIABILITIES | |||
Effects of Netting and Cash Margin Receivables /Payables | (0.3) | (0.5) | (0.3) |
Derivative liability | 1.1 | 1.7 | 0.8 |
Gas Marketing | Natural gas commodity contracts | Quoted Prices in Active Markets (Level 1) | |||
ASSETS | |||
Derivative asset before netting adjustment | 0 | 0 | 0 |
LIABILITIES | |||
Derivative liability before netting adjustment | 0 | 0 | 0 |
Gas Marketing | Natural gas commodity contracts | Significant Observable Inputs (Level 2) | |||
ASSETS | |||
Derivative asset before netting adjustment | 1.9 | 1.5 | 4.1 |
LIABILITIES | |||
Derivative liability before netting adjustment | 1.4 | 2.2 | 1.1 |
Gas Marketing | Natural gas commodity contracts | Significant Unobservable Inputs (Level 3) | |||
ASSETS | |||
Derivative asset before netting adjustment | 0.2 | 0.2 | 0.2 |
LIABILITIES | |||
Derivative liability before netting adjustment | $ 0 | $ 0 | $ 0 |
CONCENTRATIONS OF CREDIT RISK (
CONCENTRATIONS OF CREDIT RISK (Details) $ in Millions | 3 Months Ended |
Dec. 31, 2015USD ($)subsegmentcounterparty | |
Concentration Risk [Line Items] | |
Number of groups with potential to affect overall exposure | subsegment | 3 |
Number of large counterparties for which credit risk is disclosed | counterparty | 5 |
Energy Producers And Their Affiliates | |
Concentration Risk [Line Items] | |
Accounts receivable | $ 11.2 |
Net receivable amount | 5.3 |
Utility Companies And Their Affiliates | |
Concentration Risk [Line Items] | |
Accounts receivable | 25.3 |
Net receivable amount | 22.2 |
Largest Counterparties | |
Concentration Risk [Line Items] | |
Accounts receivable | 16.3 |
Net receivable amount | $ 12.9 |
PENSION PLANS AND OTHER POSTR35
PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS - Narrative (Details) - USD ($) | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Extent of lump-sum payments recognized, percentage | 100.00% | |
Medical insurance available until age is reached after early retirement | 65 years | |
Amortization period for transition obligation excluded from postretirement benefit cost (in years) | 20 years | |
Pension Plans | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Special termination benefit | $ 1,600,000 | $ 0 |
Pension Plans | Laclede Gas | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Contributions made by employer | 11,000,000 | |
Anticipated contributions to pension plans for qualified trust | 15,000,000 | |
Pension Plans | Alagasco | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Contributions made by employer | 0 | |
Anticipated contributions to pension plans for qualified trust | 0 | |
Nonqualified Pension Plans | Laclede Gas | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Contributions made by employer | 300,000 | |
Anticipated contributions to pension plans for qualified trust | 200,000 | |
Postretirement Plans | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Anticipated contributions to pension plans for qualified trust | 14,300,000 | |
Special termination benefit | 2,600,000 | $ 0 |
Anticipated payment directly to participants in postretirement plan | 400,000 | |
Postretirement Plans | Laclede Gas | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Contributions made by employer | $ 0 |
PENSION PLANS AND OTHER POSTR36
PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS - Net Periodic Cost (Details) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Pension Plans | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Service cost – benefits earned during the period | $ 3.9 | $ 4.3 |
Interest cost on projected benefit obligation | 7.1 | 7.5 |
Expected return on plan assets | (8.9) | (9.4) |
Amortization of prior service cost | 0.1 | 0.1 |
Amortization of actuarial gain (loss) | 2 | 1.9 |
Special termination benefit | 1.6 | 0 |
Subtotal | 5.8 | 4.4 |
Regulatory adjustment | 5 | 4.9 |
Net pension cost (income) | 10.8 | 9.3 |
Postretirement Plans | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Service cost – benefits earned during the period | 2.8 | 3.2 |
Interest cost on projected benefit obligation | 2.5 | 2.8 |
Expected return on plan assets | (3.4) | (3.3) |
Amortization of prior service cost | 0.1 | 0.2 |
Amortization of actuarial gain (loss) | 0.9 | 1.3 |
Special termination benefit | 2.6 | 0 |
Subtotal | 5.5 | 4.2 |
Regulatory adjustment | (4.2) | (2.7) |
Net pension cost (income) | 1.3 | 1.5 |
Laclede Gas | Pension Plans | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Service cost – benefits earned during the period | 2.5 | 2.8 |
Interest cost on projected benefit obligation | 5.4 | 5.9 |
Expected return on plan assets | (6.7) | (7.3) |
Amortization of prior service cost | 0.1 | 0.1 |
Amortization of actuarial gain (loss) | 2 | 1.9 |
Special termination benefit | 1.6 | 0 |
Subtotal | 4.9 | 3.4 |
Regulatory adjustment | 3.5 | 3.4 |
Net pension cost (income) | 8.4 | 6.8 |
Laclede Gas | Postretirement Plans | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Service cost – benefits earned during the period | 2.7 | 3.1 |
Interest cost on projected benefit obligation | 2 | 2.1 |
Expected return on plan assets | (2.1) | (2) |
Amortization of prior service cost | 0.1 | 0.2 |
Amortization of actuarial gain (loss) | 1 | 1.3 |
Special termination benefit | 2.6 | 0 |
Subtotal | 6.3 | 4.7 |
Regulatory adjustment | (3.8) | (2.3) |
Net pension cost (income) | 2.5 | 2.4 |
Alagasco | Pension Plans | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Service cost – benefits earned during the period | 1.4 | 1.5 |
Interest cost on projected benefit obligation | 1.7 | 1.6 |
Expected return on plan assets | (2.2) | (2.1) |
Subtotal | 0.9 | 1 |
Regulatory adjustment | 1.5 | 1.5 |
Net pension cost (income) | 2.4 | 2.5 |
Alagasco | Postretirement Plans | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Service cost – benefits earned during the period | 0.1 | 0.1 |
Interest cost on projected benefit obligation | 0.5 | 0.7 |
Expected return on plan assets | (1.3) | (1.3) |
Amortization of actuarial gain (loss) | (0.1) | 0 |
Subtotal | (0.8) | (0.5) |
Regulatory adjustment | (0.4) | (0.4) |
Net pension cost (income) | $ (1.2) | $ (0.9) |
INFORMATION BY OPERATING SEGM37
INFORMATION BY OPERATING SEGMENT - Schedule of Operating Segment Information (Details) $ in Millions | 3 Months Ended | ||
Dec. 31, 2015USD ($)operating_segment | Dec. 31, 2014USD ($) | Sep. 30, 2015USD ($) | |
Segment Reporting [Abstract] | |||
Number of operating segments | operating_segment | 2 | ||
Operating Segment Information [Abstract] | |||
Total revenues including intersegment revenues | $ 399.4 | $ 619.6 | |
Total Operating Revenues | 399.4 | 619.6 | |
Gas Utility | |||
Natural and propane gas | 148.5 | 304.3 | |
Other operation and maintenance expenses | 91.6 | 97.1 | |
Depreciation and amortization | 33.5 | 32 | |
Taxes, other than income taxes | 28.2 | 38 | |
Total Gas Utility Operating Expenses | 301.8 | 471.4 | |
Gas Marketing and Other | 10.6 | 60.9 | |
Total Operating Expenses | 312.4 | 532.3 | |
Operating Income | 87 | 87.3 | |
Net Economic Earnings (Loss) | 45.1 | 45.7 | |
ASSETS | |||
Total Assets | 5,411.4 | 5,288.5 | $ 5,290.2 |
Intersegment revenues | |||
Operating Segment Information [Abstract] | |||
Total revenues including intersegment revenues | 0 | 0 | |
Eliminations | |||
Operating Segment Information [Abstract] | |||
Total revenues including intersegment revenues | 0 | 0 | |
Total Operating Revenues | (13.7) | (25.9) | |
Gas Utility | |||
Natural and propane gas | (13.4) | (25.5) | |
Other operation and maintenance expenses | (0.3) | (0.3) | |
Depreciation and amortization | 0 | 0 | |
Taxes, other than income taxes | 0 | 0 | |
Total Gas Utility Operating Expenses | (13.7) | (25.8) | |
Gas Marketing and Other | 0 | (0.1) | |
Total Operating Expenses | (13.7) | (25.9) | |
Operating Income | 0 | 0 | |
Net Economic Earnings (Loss) | 0 | 0 | |
ASSETS | |||
Total Assets | (1,109.5) | (1,175.9) | (1,116.8) |
Eliminations | Intersegment revenues | |||
Operating Segment Information [Abstract] | |||
Total revenues including intersegment revenues | (13.7) | (25.9) | |
Gas Utility | Operating Segments | |||
Operating Segment Information [Abstract] | |||
Total revenues including intersegment revenues | 398.8 | 581.4 | |
Total Operating Revenues | 399.5 | 582.4 | |
Gas Utility | |||
Natural and propane gas | 161.9 | 329.8 | |
Other operation and maintenance expenses | 91.9 | 97.4 | |
Depreciation and amortization | 33.5 | 32 | |
Taxes, other than income taxes | 28.2 | 38 | |
Total Gas Utility Operating Expenses | 315.5 | 497.2 | |
Gas Marketing and Other | 0 | 0 | |
Total Operating Expenses | 315.5 | 497.2 | |
Operating Income | 84 | 85.2 | |
Net Economic Earnings (Loss) | 50 | 49.8 | |
ASSETS | |||
Total Assets | 4,806 | 4,735.6 | 4,686.2 |
Gas Utility | Operating Segments | Intersegment revenues | |||
Operating Segment Information [Abstract] | |||
Total revenues including intersegment revenues | 0.7 | 1 | |
Gas Marketing | Operating Segments | |||
Operating Segment Information [Abstract] | |||
Total revenues including intersegment revenues | 0.2 | 37.8 | |
Total Operating Revenues | 12.8 | 62.2 | |
Gas Utility | |||
Natural and propane gas | 0 | 0 | |
Other operation and maintenance expenses | 0 | 0 | |
Depreciation and amortization | 0 | 0 | |
Taxes, other than income taxes | 0 | 0 | |
Total Gas Utility Operating Expenses | 0 | 0 | |
Gas Marketing and Other | 9 | 58.6 | |
Total Operating Expenses | 9 | 58.6 | |
Operating Income | 3.8 | 3.6 | |
Net Economic Earnings (Loss) | (0.3) | 0.4 | |
ASSETS | |||
Total Assets | 163.8 | 152.7 | 160.6 |
Gas Marketing | Operating Segments | Intersegment revenues | |||
Operating Segment Information [Abstract] | |||
Total revenues including intersegment revenues | 12.6 | 24.4 | |
Other | Operating Segments | |||
Operating Segment Information [Abstract] | |||
Total revenues including intersegment revenues | 0.4 | 0.4 | |
Total Operating Revenues | 0.8 | 0.9 | |
Gas Utility | |||
Natural and propane gas | 0 | 0 | |
Other operation and maintenance expenses | 0 | 0 | |
Depreciation and amortization | 0 | 0 | |
Taxes, other than income taxes | 0 | 0 | |
Total Gas Utility Operating Expenses | 0 | 0 | |
Gas Marketing and Other | 1.6 | 2.4 | |
Total Operating Expenses | 1.6 | 2.4 | |
Operating Income | (0.8) | (1.5) | |
Net Economic Earnings (Loss) | (4.6) | (4.5) | |
ASSETS | |||
Total Assets | 1,551.1 | 1,576.1 | $ 1,560.2 |
Other | Operating Segments | Intersegment revenues | |||
Operating Segment Information [Abstract] | |||
Total revenues including intersegment revenues | $ 0.4 | $ 0.5 |
INFORMATION BY OPERATING SEGM38
INFORMATION BY OPERATING SEGMENT - Reconciliation of Consolidated Net Income to Consolidated Net Economic Earnings (Details) - USD ($) $ in Millions | 3 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting [Abstract] | ||
Net Income | $ 46.9 | $ 47.1 |
Unrealized gain on energy-related derivative contracts | (3) | (3) |
Lower of cost or market inventory adjustments | 0.3 | 1.2 |
Acquisition, divestiture and restructuring activities | 0.9 | 0.4 |
Net Economic Earnings (Non-GAAP) | $ 45.1 | $ 45.7 |
COMMITMENTS AND CONTINGENCIES -
COMMITMENTS AND CONTINGENCIES - Commitments (Details) $ in Millions | 3 Months Ended |
Dec. 31, 2015USD ($) | |
Long-term Purchase Commitment [Line Items] | |
Minimum total payments required for natural gas contracts | $ 1,144 |
Laclede Gas | |
Long-term Purchase Commitment [Line Items] | |
Minimum total payments required for natural gas contracts | 516.4 |
Alagasco | |
Long-term Purchase Commitment [Line Items] | |
Minimum total payments required for natural gas contracts | $ 365 |
COMMITMENTS AND CONTINGENCIES40
COMMITMENTS AND CONTINGENCIES - Contingencies (Details) | Dec. 17, 2013fatality | Dec. 31, 2015site | Aug. 30, 2014site |
Laclede Gas | |||
Loss Contingencies [Line Items] | |||
Number of former manufactured gas plant (MGP) sites in Missouri | 3 | ||
Number of former manufactured gas plant (MGP) sites in Shrewsbury, Missouri | 1 | ||
Number of former manufactured gas plant (MGP) sites in the City of St. Louis | 2 | ||
Alagasco | |||
Loss Contingencies [Line Items] | |||
Number of former manufactured gas plant (MGP) | 9 | ||
Number of former manufactured gas distribution | 5 | ||
Number of incident fatalities | fatality | 1 | ||
Previous Ownership | Laclede Gas | |||
Loss Contingencies [Line Items] | |||
Number of former manufactured gas plant (MGP) | 19 | ||
Previous Ownership | Missouri Gas Energy (MGE) | |||
Loss Contingencies [Line Items] | |||
Number of former manufactured gas plant (MGP) | 7 | ||
Current Ownership | Alagasco | |||
Loss Contingencies [Line Items] | |||
Number of former manufactured gas plant (MGP) | 4 | ||
Number of former manufactured gas distribution | 1 |