Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Jun. 30, 2019 | Jul. 26, 2019 | |
Entity Information [Line Items] | ||
Entity Registrant Name | Spire Inc | |
Entity Central Index Key | 0001126956 | |
Current Fiscal Year End Date | --09-30 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding (in shares) | 50,809,437 | |
Document Period End Date | Jun. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | SR | |
Document Type | 10-Q | |
Amendment Flag | false | |
Entity Shell Company | false | |
Entity File Number | 1-16681 | |
Entity Tax Identification Number | 742976504 | |
Entity Address, Address Line One | 700 Market Street | |
Entity Address, City or Town | St. Louis | |
Entity Address, State or Province | MO | |
Entity Address, Postal Zip Code | 63101 | |
City Area Code | 314 | |
Local Phone Number | 342-0500 | |
Spire Missouri Inc | ||
Entity Information [Line Items] | ||
Entity Registrant Name | Spire Missouri Inc | |
Entity Central Index Key | 0000057183 | |
Current Fiscal Year End Date | --09-30 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding (in shares) | 24,577 | |
Document Period End Date | Jun. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | SR | |
Document Type | 10-Q | |
Amendment Flag | false | |
Entity Shell Company | false | |
Entity File Number | 1-1822 | |
Entity Tax Identification Number | 430368139 | |
Entity Address, Address Line One | 700 Market Street | |
Entity Address, City or Town | St. Louis | |
Entity Address, State or Province | MO | |
Entity Address, Postal Zip Code | 63101 | |
City Area Code | 314 | |
Local Phone Number | 342-0500 | |
Spire Alabama Inc | ||
Entity Information [Line Items] | ||
Entity Registrant Name | Spire Alabama Inc | |
Entity Central Index Key | 0000003146 | |
Current Fiscal Year End Date | --09-30 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding (in shares) | 1,972,052 | |
Document Period End Date | Jun. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | SR | |
Document Type | 10-Q | |
Amendment Flag | false | |
Entity Shell Company | false | |
Entity File Number | 2-38960 | |
Entity Tax Identification Number | 630022000 | |
Entity Address, Address Line One | 2101 6th Avenue North | |
Entity Address, City or Town | Birmingham | |
Entity Address, State or Province | AL | |
Entity Address, Postal Zip Code | 35203 | |
City Area Code | 205 | |
Local Phone Number | 326-8100 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Operating Revenues: | ||||
Gas Utility | $ 301.4 | $ 334.8 | $ 1,651.9 | $ 1,667.3 |
Gas Marketing and other | 19.9 | 15.8 | 74.9 | 58.5 |
Total Operating Revenues | 321.3 | 350.6 | 1,726.8 | 1,725.8 |
Gas Utility | ||||
Natural and propane gas | 75.5 | 107.2 | 664.6 | 731.7 |
Other operation and maintenance expenses | 111.2 | 99.1 | 323.2 | 333.4 |
Depreciation and amortization | 45.1 | 40.5 | 133.2 | 121.9 |
Taxes, other than income taxes | 29.7 | 33.5 | 126.3 | 128.2 |
Total Gas Utility Operating Expenses | 261.5 | 280.3 | 1,247.3 | 1,315.2 |
Gas Marketing and other | 46.5 | 11.4 | 151.6 | 97.6 |
Total Operating Expenses | 308 | 291.7 | 1,398.9 | 1,412.8 |
Operating Income | 13.3 | 58.9 | 327.9 | 313 |
Other Income (Expense), Net | 6.4 | (3.1) | 15.3 | (7.4) |
Interest Charges: | ||||
Interest on long-term debt | 20.5 | 20.8 | 62.4 | 62.5 |
Other interest charges | 5.1 | 3.4 | 16.7 | 11.5 |
Total Interest Charges | 25.6 | 24.2 | 79.1 | 74 |
(Loss) Income Before Income Taxes | (5.9) | 31.6 | 264.1 | 231.6 |
Income Tax (Benefit) Expense | (2.9) | 5.7 | 45.2 | (8.5) |
Net (Loss) Income | (3) | 25.9 | 218.9 | 240.1 |
Provision for preferred dividends | 1.6 | 1.6 | ||
Income allocated to participating securities | 0.1 | 0.5 | 0.5 | |
Net (Loss) Income Available to Common Shareholders | $ (4.6) | $ 25.8 | $ 216.8 | $ 239.6 |
Weighted Average Number of Common Shares Outstanding: | ||||
Basic | 50.7 | 49.6 | 50.6 | 48.7 |
Diluted | 50.9 | 49.7 | 50.8 | 48.8 |
Basic (Loss) Earnings Per Common Share | $ (0.09) | $ 0.52 | $ 4.28 | $ 4.92 |
Diluted (Loss) Earnings Per Common Share | $ (0.09) | $ 0.52 | $ 4.27 | $ 4.91 |
Spire Alabama | ||||
Operating Revenues: | ||||
Gas Utility | $ 90.8 | $ 100.3 | $ 404.7 | $ 439.4 |
Total Operating Revenues | 90.8 | 100.3 | 404.7 | 439.4 |
Gas Utility | ||||
Natural and propane gas | 20 | 32.2 | 120.6 | 159.7 |
Other operation and maintenance expenses | 37.3 | 33.2 | 105.1 | 101.2 |
Depreciation and amortization | 14.2 | 13.5 | 41.5 | 39.4 |
Taxes, other than income taxes | 8.2 | 8.1 | 29.7 | 30.7 |
Total Operating Expenses | 79.7 | 87 | 296.9 | 331 |
Operating Income | 11.1 | 13.3 | 107.8 | 108.4 |
Other Income (Expense), Net | 1.9 | (0.5) | 5.2 | 2.5 |
Interest Charges: | ||||
Interest on long-term debt | 4.6 | 3.6 | 12.6 | 10 |
Other interest charges | 0.9 | 0.8 | 3.4 | 2.8 |
Total Interest Charges | 5.5 | 4.4 | 16 | 12.8 |
(Loss) Income Before Income Taxes | 7.5 | 8.4 | 97 | 98.1 |
Income Tax (Benefit) Expense | 1.9 | 2.1 | 24.4 | 85.8 |
Net (Loss) Income | $ 5.6 | $ 6.3 | $ 72.6 | $ 12.3 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Net (Loss) Income | $ (3) | $ 25.9 | $ 218.9 | $ 240.1 |
Cash flow hedging derivative instruments: | ||||
Net hedging (loss) gain arising during the period | (12.3) | 0.6 | (30.4) | 2.5 |
Reclassification adjustment for gains included in net income | (0.3) | (0.3) | (1) | (1.1) |
Net unrealized (loss) gain on cash flow hedging derivative instruments | (12.6) | 0.3 | (31.4) | 1.4 |
Net gain on defined benefit pension and other postretirement plans | 0.1 | 0.2 | 0.1 | |
Net unrealized gain (loss) on available for sale securities | 0.1 | (0.1) | ||
Other Comprehensive (Loss) Income, Before Tax | (12.5) | 0.3 | (31.1) | 1.4 |
Income Tax (Benefit) Expense Related to Items of Other Comprehensive (Loss) Income | (3.1) | (7.5) | 0.2 | |
Other Comprehensive (Loss) Income, Net of Tax | (9.4) | 0.3 | (23.6) | 1.2 |
Comprehensive (Loss) Income | (12.4) | 26.2 | 195.3 | 241.3 |
Operating Revenues: | ||||
Gas Utility | 301.4 | 334.8 | 1,651.9 | 1,667.3 |
Total Operating Revenues | 321.3 | 350.6 | 1,726.8 | 1,725.8 |
Gas Utility | ||||
Natural and propane gas | 75.5 | 107.2 | 664.6 | 731.7 |
Other operation and maintenance expenses | 111.2 | 99.1 | 323.2 | 333.4 |
Depreciation and amortization | 45.1 | 40.5 | 133.2 | 121.9 |
Taxes, other than income taxes | 29.7 | 33.5 | 126.3 | 128.2 |
Total Operating Expenses | 308 | 291.7 | 1,398.9 | 1,412.8 |
Operating Income | 13.3 | 58.9 | 327.9 | 313 |
Other Income (Expense), Net | 6.4 | (3.1) | 15.3 | (7.4) |
Interest Charges: | ||||
Interest on long-term debt | 20.5 | 20.8 | 62.4 | 62.5 |
Other interest charges | 5.1 | 3.4 | 16.7 | 11.5 |
Total Interest Charges | 25.6 | 24.2 | 79.1 | 74 |
(Loss) Income Before Income Taxes | (5.9) | 31.6 | 264.1 | 231.6 |
Income Tax (Benefit) Expense | (2.9) | 5.7 | 45.2 | (8.5) |
Net (Loss) Income | (3) | 25.9 | 218.9 | 240.1 |
Spire Missouri | ||||
Net (Loss) Income | 1.1 | 11.5 | 132.3 | 139.3 |
Cash flow hedging derivative instruments: | ||||
Other Comprehensive (Loss) Income, Net of Tax | 0.1 | 0.1 | 0.1 | |
Comprehensive (Loss) Income | 1.2 | 11.6 | 132.4 | 139.3 |
Operating Revenues: | ||||
Gas Utility | 191.4 | 215.5 | 1,161.2 | 1,141 |
Total Operating Revenues | 191.4 | 215.5 | 1,161.2 | 1,141 |
Gas Utility | ||||
Natural and propane gas | 63.1 | 81.1 | 600.3 | 598.5 |
Other operation and maintenance expenses | 68.2 | 59.8 | 202 | 213.9 |
Depreciation and amortization | 28 | 24.2 | 83 | 74.2 |
Taxes, other than income taxes | 19.9 | 23.7 | 89.9 | 91.1 |
Total Operating Expenses | 179.2 | 188.8 | 975.2 | 977.7 |
Operating Income | 12.2 | 26.7 | 186 | 163.3 |
Other Income (Expense), Net | 0.5 | (3.7) | 2.3 | (12.6) |
Interest Charges: | ||||
Interest on long-term debt | 9.3 | 9.6 | 28.7 | 29.3 |
Other interest charges | 2.6 | 1.7 | 8.5 | 5.5 |
Total Interest Charges | 11.9 | 11.3 | 37.2 | 34.8 |
(Loss) Income Before Income Taxes | 0.8 | 11.7 | 151.1 | 115.9 |
Income Tax (Benefit) Expense | (0.3) | 0.2 | 18.8 | (23.4) |
Net (Loss) Income | $ 1.1 | $ 11.5 | $ 132.3 | $ 139.3 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions | Jun. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2018 |
ASSETS | |||
Utility Plant | $ 5,990.6 | $ 5,653.3 | $ 5,501.6 |
Less: Accumulated depreciation and amortization | 1,770.4 | 1,682.8 | 1,669.8 |
Net Utility Plant | 4,220.2 | 3,970.5 | 3,831.8 |
Non-utility Property (net of accumulated depreciation and amortization of $11.1, $10.4 and $9.7 at June 30, 2019, September 30, 2018, and June 30, 2018, respectively) | 416.6 | 174.5 | 143.5 |
Goodwill | 1,171.6 | 1,171.6 | 1,171.6 |
Other Investments | 74.8 | 68.7 | 71 |
Total Other Property and Investments | 1,663 | 1,414.8 | 1,386.1 |
Current Assets: | |||
Cash and cash equivalents | 5.8 | 4.4 | 6.9 |
Accounts receivable: | |||
Utility | 167.2 | 151.9 | 159.8 |
Other | 193.2 | 167.3 | 111.6 |
Allowance for doubtful accounts | (23.7) | (22.4) | (24.7) |
Delayed customer billings | 19.4 | 6.9 | 32.8 |
Inventories: | |||
Natural gas | 123.8 | 175.2 | 119.8 |
Propane gas | 10.7 | 12 | 12 |
Materials and supplies | 23.7 | 23.1 | 21.4 |
Natural gas receivable | 0.7 | 1.8 | 2.7 |
Derivative instrument assets | 6.3 | 13.3 | 8.4 |
Regulatory assets | 79 | 72.8 | 96.7 |
Prepayments | 39.5 | 31 | 32.3 |
Other | 4.2 | 22.3 | 5.2 |
Total Current Assets | 649.8 | 659.6 | 584.9 |
Deferred Charges and Other Assets: | |||
Regulatory assets | 657.1 | 669.8 | 695.1 |
Other | 141.9 | 128.9 | 87 |
Total Deferred Charges and Other Assets | 799 | 798.7 | 782.1 |
Total Assets | 7,332 | 6,843.6 | 6,584.9 |
Capitalization: | |||
Preferred stock ($25.00 par value per share; 10.0 million depositary shares authorized, issued and outstanding at June 30, 2019) | 242 | 0 | 0 |
Common stock (par value $1.00 per share; 70.0 million shares authorized; 50.8 million issued and outstanding at June 30, 2019, and 50.7 million shares issued and outstanding September 30, 2018, and June 30, 2018) | 50.8 | 50.7 | 50.7 |
Paid-in capital and common stock | 1,492.7 | 1,482.7 | 1,480.2 |
Retained earnings | 844.3 | 715.6 | 772.4 |
Accumulated other comprehensive (loss) income | (17.2) | 6.4 | 4.4 |
Total Shareholders' Equity | 2,612.6 | 2,255.4 | 2,307.7 |
Redeemable noncontrolling interest | 0 | 7.9 | 6.5 |
Long-term debt (less current portion) | 2,042.3 | 1,900.1 | 2,024.5 |
Total Capitalization | 4,654.9 | 4,163.4 | 4,338.7 |
Current Liabilities: | |||
Current portion of long-term debt | 165 | 175.5 | 155.5 |
Notes payable | 434 | 553.6 | 191 |
Accounts payable | 297.6 | 290.1 | 195.5 |
Advance customer billings | 11.6 | 22.7 | 9.7 |
Wages and compensation accrued | 43.6 | 39.7 | 39.6 |
Dividends payable | 31.2 | 30 | 28.4 |
Customer deposits | 35.7 | 35.5 | 35.4 |
Interest accrued | 28.7 | 15.2 | 27.8 |
Taxes accrued | 56.7 | 65.4 | 56.5 |
Regulatory liabilities | 31.3 | 35.7 | 24.5 |
Other | 84.2 | 58.3 | 50.2 |
Total Current Liabilities | 1,219.6 | 1,321.7 | 814.1 |
Deferred Credits and Other Liabilities: | |||
Deferred income taxes | 490.4 | 435.8 | 476.8 |
Pension and postretirement benefit costs | 172.1 | 180.2 | 219.3 |
Asset retirement obligations | 328.9 | 321.1 | 305.9 |
Regulatory liabilities | 396.3 | 354.6 | 364.3 |
Other | 69.8 | 66.8 | 65.8 |
Total Deferred Credits and Other Liabilities | 1,457.5 | 1,358.5 | 1,432.1 |
Commitments and Contingencies (Note 12) | |||
Total Capitalization and Liabilities | 7,332 | 6,843.6 | 6,584.9 |
Spire Missouri | |||
ASSETS | |||
Utility Plant | 3,545.9 | 3,331 | 3,227.1 |
Less: Accumulated depreciation and amortization | 753.3 | 705.8 | 697.6 |
Net Utility Plant | 2,792.6 | 2,625.2 | 2,529.5 |
Goodwill | 210.2 | 210.2 | 210.2 |
Other Investments | 54.9 | 55 | 56.7 |
Total Other Property and Investments | 265.1 | 265.2 | 266.9 |
Current Assets: | |||
Cash and cash equivalents | 3.7 | 2 | 3.5 |
Accounts receivable: | |||
Utility | 115 | 103.9 | 110.5 |
Associated companies | 4.1 | 2.7 | 3.2 |
Other | 22.2 | 16.6 | 18.7 |
Allowance for doubtful accounts | (16.5) | (16) | (18.2) |
Delayed customer billings | 19.4 | 6.9 | 32.8 |
Inventories: | |||
Natural gas | 72.5 | 127.9 | 76.8 |
Propane gas | 10.7 | 12 | 12 |
Materials and supplies | 13.5 | 13.2 | 12.4 |
Regulatory assets | 30.2 | 30.7 | 55.1 |
Prepayments | 25.4 | 19.1 | 20.3 |
Total Current Assets | 300.2 | 319 | 327.1 |
Deferred Charges and Other Assets: | |||
Regulatory assets | 429.2 | 441.1 | 473.8 |
Other | 53.7 | 50.8 | 7.7 |
Total Deferred Charges and Other Assets | 482.9 | 491.9 | 481.5 |
Total Assets | 3,840.8 | 3,701.3 | 3,605 |
Capitalization: | |||
Paid-in capital and common stock | 763.9 | 760.4 | 759.3 |
Retained earnings | 613.9 | 501.1 | 519.8 |
Accumulated other comprehensive (loss) income | (1.5) | (1.6) | (1.7) |
Total Shareholders' Equity | 1,376.3 | 1,259.9 | 1,277.4 |
Long-term debt (less current portion) | 924.8 | 824.4 | 824.2 |
Total Capitalization | 2,301.1 | 2,084.3 | 2,101.6 |
Current Liabilities: | |||
Current portion of long-term debt | 0 | 50 | 150 |
Notes payable – associated companies | 281.5 | 345.3 | 128.6 |
Accounts payable | 62.3 | 81.7 | 62.3 |
Accounts payable – associated companies | 5 | 5.8 | 4.9 |
Advance customer billings | 3.4 | 9.5 | 0 |
Wages and compensation accrued | 32.8 | 31.3 | 30.5 |
Dividends payable | 0 | 9 | 9 |
Customer deposits | 12.9 | 13.1 | 13 |
Interest accrued | 10.7 | 7.8 | 11.6 |
Taxes accrued | 28.3 | 32 | 26.5 |
Regulatory liabilities | 23.4 | 16.7 | 8.7 |
Other | 21.3 | 20.1 | 17.4 |
Total Current Liabilities | 481.6 | 622.3 | 462.5 |
Deferred Credits and Other Liabilities: | |||
Deferred income taxes | 395.4 | 361 | 393.9 |
Pension and postretirement benefit costs | 125.3 | 136.9 | 154.4 |
Asset retirement obligations | 179.7 | 174.1 | 163.6 |
Regulatory liabilities | 310.5 | 274.9 | 281.6 |
Other | 47.2 | 47.8 | 47.4 |
Total Deferred Credits and Other Liabilities | 1,058.1 | 994.7 | 1,040.9 |
Commitments and Contingencies (Note 12) | |||
Total Capitalization and Liabilities | 3,840.8 | 3,701.3 | 3,605 |
Spire Alabama | |||
ASSETS | |||
Utility Plant | 2,080.5 | 1,964.3 | 1,920.3 |
Less: Accumulated depreciation and amortization | 866.9 | 830.2 | 816.8 |
Net Utility Plant | 1,213.6 | 1,134.1 | 1,103.5 |
Current Assets: | |||
Cash and cash equivalents | 0 | 0 | 0 |
Accounts receivable: | |||
Utility | 43 | 39.6 | 40.3 |
Associated companies | 0.1 | 0.5 | 0.2 |
Other | 8.8 | 8.5 | 6.5 |
Allowance for doubtful accounts | (5.2) | (3.9) | (3.6) |
Inventories: | |||
Natural gas | 30.6 | 33.9 | 30.5 |
Materials and supplies | 8.2 | 7.8 | 7.7 |
Regulatory assets | 33.9 | 26.2 | 26.9 |
Prepayments | 7.4 | 6 | 6.9 |
Other | 0 | 2.4 | 1.7 |
Total Current Assets | 126.8 | 121 | 117.1 |
Deferred Charges and Other Assets: | |||
Regulatory assets | 199.9 | 201.5 | 193.4 |
Deferred income taxes | 77.3 | 101.8 | 98.2 |
Other | 59.1 | 57.8 | 58.6 |
Total Deferred Charges and Other Assets | 336.3 | 361.1 | 350.2 |
Total Assets | 1,676.7 | 1,616.2 | 1,570.8 |
Capitalization: | |||
Paid-in capital and common stock | 370.9 | 390.9 | 390.9 |
Retained earnings | 473.4 | 417.8 | 436.3 |
Total Shareholders' Equity | 844.3 | 808.7 | 827.2 |
Long-term debt (less current portion) | 372.1 | 322.6 | 322.5 |
Total Capitalization | 1,216.4 | 1,131.3 | 1,149.7 |
Current Liabilities: | |||
Current portion of long-term debt | 40 | 0 | 0 |
Notes payable – associated companies | 79.6 | 142.5 | 69.6 |
Accounts payable | 48 | 48.4 | 44.6 |
Accounts payable – associated companies | 3.4 | 2.1 | 2 |
Advance customer billings | 6.7 | 13.1 | 9.5 |
Wages and compensation accrued | 7.7 | 6.7 | 7.4 |
Customer deposits | 19.8 | 18.6 | 18.6 |
Interest accrued | 6.8 | 3.9 | 5 |
Taxes accrued | 25.5 | 28.3 | 26.8 |
Regulatory liabilities | 3.4 | 7.6 | 8.8 |
Other | 4.4 | 3.2 | 3.3 |
Total Current Liabilities | 245.3 | 274.4 | 195.6 |
Deferred Credits and Other Liabilities: | |||
Pension and postretirement benefit costs | 38.7 | 35 | 51.8 |
Asset retirement obligations | 140 | 135.7 | 132.4 |
Regulatory liabilities | 29.8 | 31.3 | 33.7 |
Other | 6.5 | 8.5 | 7.6 |
Total Deferred Credits and Other Liabilities | 215 | 210.5 | 225.5 |
Commitments and Contingencies (Note 12) | |||
Total Capitalization and Liabilities | $ 1,676.7 | $ 1,616.2 | $ 1,570.8 |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Millions | Jun. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2018 |
ASSETS | |||
Non-utility property, accumulated depreciation and amortization | $ 11.1 | $ 10.4 | $ 9.7 |
Capitalization: | |||
Preferred stock, par value (in dollars per share) | $ 25 | ||
Preferred stock, depositary shares authorized (in shares) | 10,000,000 | ||
Preferred stock, depositary shares outstanding (in shares) | 10,000,000 | ||
Preferred stock, depositary shares issued (in shares) | 10,000,000 | ||
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) | 50,800,000 | 50,700,000 | 50,700,000 |
Common stock, outstanding (in shares) | 50,800,000 | 50,700,000 | 50,700,000 |
Spire Missouri | |||
Capitalization: | |||
Common stock, par value (in dollars per share) | $ 1 | $ 1 | $ 1 |
Common stock, authorized (in shares) | 50,000,000 | 50,000,000 | 50,000,000 |
Common stock, issued (in shares) | 24,577 | 24,577 | 24,577 |
Common stock, outstanding (in shares) | 24,577 | 24,577 | 24,577 |
Spire Alabama | |||
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 |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Millions | Total | Spire Missouri | Spire Alabama | Common Stock Outstanding | Common Stock OutstandingSpire Missouri | Common Stock OutstandingSpire Alabama | Preferred Stock | Paid-in Capital | Paid-in CapitalSpire Missouri | Paid-in CapitalSpire Alabama | Retained Earnings | Retained EarningsSpire Missouri | Retained EarningsSpire Alabama | AOCI | [1] | AOCISpire Missouri | [1] |
BALANCE at Sep. 30, 2017 | $ 1,991.3 | $ 1,171 | $ 867.4 | $ 48.3 | $ 0.1 | $ 1,325.6 | $ 756.1 | $ 420.9 | $ 614.2 | $ 416.5 | $ 446.5 | $ 3.2 | $ (1.7) | ||||
BALANCE (in shares) at Sep. 30, 2017 | 48,263,243 | 24,577 | 1,972,052 | ||||||||||||||
Stockholders' Equity Rollforward | |||||||||||||||||
Net income (loss) | 240.1 | 139.3 | 12.3 | 240.1 | 139.3 | 12.3 | |||||||||||
Return of capital to Spire | (30) | (30) | |||||||||||||||
Common stock offering | 153 | $ 2.3 | 150.7 | ||||||||||||||
Common stock offering (in shares) | 2,300,000 | ||||||||||||||||
Dividend reinvestment plan | 1.2 | 1.2 | |||||||||||||||
Dividend reinvestment plan (in shares) | 16,952 | ||||||||||||||||
Stock-based compensation costs | 5.6 | 3.1 | 5.6 | 3.1 | |||||||||||||
Stock issued under stock-based compensation plans | $ 0.1 | (0.1) | |||||||||||||||
Stock issued under stock-based compensation plans (in shares) | 111,742 | ||||||||||||||||
Employees’ tax withholding for stock-based compensation | (2.8) | (2.8) | |||||||||||||||
Employee's tax withholding for stock-based compensation (in shares) | (33,777) | ||||||||||||||||
Dividends declared on common stock | (81.9) | (36) | (22.5) | (81.9) | (36) | (22.5) | |||||||||||
Other comprehensive income/loss, net of tax | 1.2 | 1.2 | |||||||||||||||
BALANCE at Jun. 30, 2018 | 2,307.7 | 1,277.4 | 827.2 | $ 50.7 | $ 0.1 | 1,480.2 | 759.2 | 390.9 | 772.4 | 519.8 | 436.3 | 4.4 | (1.7) | ||||
BALANCE (in shares) at Jun. 30, 2018 | 50,658,160 | 24,577 | 1,972,052 | ||||||||||||||
BALANCE at Mar. 31, 2018 | 2,153.5 | 1,273.9 | 828.4 | $ 48.4 | $ 0.1 | 1,327.3 | 758.3 | 390.9 | 773.7 | 517.3 | 437.5 | 4.1 | (1.8) | ||||
BALANCE (in shares) at Mar. 31, 2018 | 48,354,779 | 24,577 | 1,972,052 | ||||||||||||||
Stockholders' Equity Rollforward | |||||||||||||||||
Net income (loss) | 25.9 | 11.5 | 6.3 | 25.9 | 11.5 | 6.3 | |||||||||||
Common stock offering | 153 | $ 2.3 | 150.7 | ||||||||||||||
Common stock offering (in shares) | 2,300,000 | ||||||||||||||||
Dividend reinvestment plan | 0.4 | 0.4 | |||||||||||||||
Dividend reinvestment plan (in shares) | 5,949 | ||||||||||||||||
Stock-based compensation costs | 1.8 | 0.9 | 1.8 | 0.9 | |||||||||||||
Stock issued under stock-based compensation plans (in shares) | (2,372) | ||||||||||||||||
Employee's tax withholding for stock-based compensation (in shares) | (196) | ||||||||||||||||
Dividends declared on common stock | (27.2) | (9) | (7.5) | (27.2) | (9) | (7.5) | |||||||||||
Other comprehensive income/loss, net of tax | 0.3 | 0.1 | 0.3 | 0.1 | |||||||||||||
BALANCE at Jun. 30, 2018 | 2,307.7 | 1,277.4 | 827.2 | $ 50.7 | $ 0.1 | 1,480.2 | 759.2 | 390.9 | 772.4 | 519.8 | 436.3 | 4.4 | (1.7) | ||||
BALANCE (in shares) at Jun. 30, 2018 | 50,658,160 | 24,577 | 1,972,052 | ||||||||||||||
BALANCE at Sep. 30, 2018 | 2,255.4 | 1,259.9 | 808.7 | $ 50.7 | $ 0.1 | 1,482.7 | 760.3 | 390.9 | 715.6 | 501.1 | 417.8 | 6.4 | (1.6) | ||||
BALANCE (in shares) at Sep. 30, 2018 | 50,671,903 | 24,577 | 1,972,052 | ||||||||||||||
Stockholders' Equity Rollforward | |||||||||||||||||
Net income (loss) | 218.9 | 132.3 | 72.6 | 218.9 | 132.3 | 72.6 | |||||||||||
Return of capital to Spire | (20) | (20) | |||||||||||||||
Preferred stock offering | 242 | $ 242 | |||||||||||||||
Common stock offering | 4.5 | $ 0.1 | 4.4 | ||||||||||||||
Common stock offering (in shares) | 59,630 | ||||||||||||||||
Dividend reinvestment plan | 1.2 | 1.2 | |||||||||||||||
Dividend reinvestment plan (in shares) | 15,771 | ||||||||||||||||
Stock-based compensation costs | 6.7 | 3.5 | 6.7 | 3.5 | |||||||||||||
Stock issued under stock-based compensation plans | $ 0.1 | (0.1) | |||||||||||||||
Stock issued under stock-based compensation plans (in shares) | 86,328 | ||||||||||||||||
Employees’ tax withholding for stock-based compensation | (2.3) | $ (0.1) | (2.2) | ||||||||||||||
Employee's tax withholding for stock-based compensation (in shares) | (28,001) | ||||||||||||||||
Dividends declared on common stock | (90.2) | (19.5) | (17) | (90.2) | (19.5) | (17) | |||||||||||
Other comprehensive income/loss, net of tax | (23.6) | 0.1 | (23.6) | 0.1 | |||||||||||||
BALANCE at Jun. 30, 2019 | 2,612.6 | 1,376.3 | 844.3 | $ 50.8 | $ 0.1 | 242 | 1,492.7 | 763.8 | 370.9 | 844.3 | 613.9 | 473.4 | (17.2) | (1.5) | |||
BALANCE (in shares) at Jun. 30, 2019 | 50,805,631 | 24,577 | 1,972,052 | ||||||||||||||
BALANCE at Mar. 31, 2019 | 2,406 | 1,374 | 838.7 | $ 50.7 | $ 0.1 | 1,485.6 | 762.7 | 370.9 | 877.5 | 612.8 | 467.8 | (7.8) | (1.6) | ||||
BALANCE (in shares) at Mar. 31, 2019 | 50,742,637 | 24,577 | 1,972,052 | ||||||||||||||
Stockholders' Equity Rollforward | |||||||||||||||||
Net income (loss) | (3) | 1.1 | 5.6 | (3) | 1.1 | 5.6 | |||||||||||
Preferred stock offering | 242 | 242 | |||||||||||||||
Common stock offering | 4.5 | $ 0.1 | 4.4 | ||||||||||||||
Common stock offering (in shares) | 59,630 | ||||||||||||||||
Dividend reinvestment plan | 0.4 | 0.4 | |||||||||||||||
Dividend reinvestment plan (in shares) | 4,504 | ||||||||||||||||
Stock-based compensation costs | 2.3 | 1.1 | 2.3 | 1.1 | |||||||||||||
Stock issued under stock-based compensation plans (in shares) | (1,140) | ||||||||||||||||
Dividends declared on common stock | (30.2) | (30.2) | |||||||||||||||
Other comprehensive income/loss, net of tax | (9.4) | 0.1 | (9.4) | 0.1 | |||||||||||||
BALANCE at Jun. 30, 2019 | $ 2,612.6 | $ 1,376.3 | $ 844.3 | $ 50.8 | $ 0.1 | $ 242 | $ 1,492.7 | $ 763.8 | $ 370.9 | $ 844.3 | $ 613.9 | $ 473.4 | $ (17.2) | $ (1.5) | |||
BALANCE (in shares) at Jun. 30, 2019 | 50,805,631 | 24,577 | 1,972,052 | ||||||||||||||
[1] | Accumulated other comprehensive income (loss) |
CONDENSED CONSOLIDATED STATEM_4
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Statement Of Stockholders Equity [Abstract] | ||||
Dividends declared on common stock (in dollars per share) | $ 0.5925 | $ 0.5625 | $ 1.7775 | $ 1.6875 |
CONDENSED CONSOLIDATED STATEM_5
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions | 9 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Operating Activities: | ||
Net Income | $ 218.9 | $ 240.1 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 134.9 | 122.9 |
Deferred income taxes and investment tax credits | 42.6 | (9.5) |
Changes in assets and liabilities: | ||
Accounts receivable | (44.6) | 20.1 |
Inventories | 52.1 | 72.6 |
Regulatory assets and liabilities | 82.1 | 156.5 |
Accounts payable | 11.3 | (53) |
Delayed/advance customer billings, net | (23.5) | (51.6) |
Taxes accrued | (7.1) | (4.4) |
Other assets and liabilities | (24.2) | (26.9) |
Other | (1.9) | 44.5 |
Net cash provided by operating activities | 440.6 | 511.3 |
Investing Activities: | ||
Capital expenditures | (608.5) | (334.3) |
Business acquisitions | (7.9) | (28.1) |
Other | (7.1) | (8.9) |
Net cash used in investing activities | (623.5) | (371.3) |
Financing Activities: | ||
Issuance of preferred stock | 242 | 0 |
Issuance of long-term debt | 190 | 75 |
Repayment of long-term debt | (59.1) | 0 |
Repayment of short-term debt, net | (119.6) | (286.3) |
Issuance of common stock | 5.7 | 154.2 |
Dividends paid on common stock | (88.9) | (80.2) |
Other | (2.8) | (3.2) |
Net cash provided by (used in) financing activities | 167.3 | (140.5) |
Net Decrease in Cash, Cash Equivalents, and Restricted Cash | (15.6) | (0.5) |
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period | 21.4 | 7.4 |
Cash and Cash Equivalents at End of Period | 5.8 | 6.9 |
Supplemental disclosure of cash paid for: | ||
Interest, net of amounts capitalized | (63.5) | (60.6) |
Income taxes | (2.1) | (0.9) |
Cash and Cash Equivalents at Beginning of Period | 4.4 | |
Cash and Cash Equivalents at End of Period | 5.8 | 6.9 |
Spire Missouri | ||
Operating Activities: | ||
Net Income | 132.3 | 139.3 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 83 | 74.2 |
Deferred income taxes and investment tax credits | 18.8 | (23.4) |
Changes in assets and liabilities: | ||
Accounts receivable | (17.6) | (8.3) |
Inventories | 56.3 | 60.3 |
Regulatory assets and liabilities | 88.7 | 107.9 |
Accounts payable | (8.3) | (19.6) |
Delayed/advance customer billings, net | (18.5) | (42.7) |
Taxes accrued | (3.7) | (7.5) |
Other assets and liabilities | (36.9) | (18.9) |
Other | 3.9 | 44.1 |
Net cash provided by operating activities | 298 | 305.4 |
Investing Activities: | ||
Capital expenditures | (255) | (203.1) |
Other | 1 | 0.1 |
Net cash used in investing activities | (254) | (203) |
Financing Activities: | ||
Issuance of long-term debt | 100 | 0 |
Repayment of long-term debt | (50) | 0 |
Repayments to Spire, net | (63.8) | (74.4) |
Dividends paid on common stock | (28.5) | (27) |
Net cash provided by (used in) financing activities | (42.3) | (101.4) |
Supplemental disclosure of cash paid for: | ||
Interest, net of amounts capitalized | (33.2) | (30.7) |
Income taxes | 0 | 0 |
Net Increase (Decrease) in Cash and Cash Equivalents | 1.7 | 1 |
Cash and Cash Equivalents at Beginning of Period | 2 | 2.5 |
Cash and Cash Equivalents at End of Period | 3.7 | 3.5 |
Spire Alabama | ||
Operating Activities: | ||
Net Income | 72.6 | 12.3 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 41.5 | 39.4 |
Deferred income taxes and investment tax credits | 24.4 | 85.8 |
Changes in assets and liabilities: | ||
Accounts receivable | (6.2) | (14.9) |
Inventories | 2.9 | 2.2 |
Regulatory assets and liabilities | (4.4) | 44 |
Accounts payable | 0.8 | (0.1) |
Delayed/advance customer billings, net | (6.4) | (9.1) |
Taxes accrued | (2.8) | 3.4 |
Other assets and liabilities | 9.1 | 0.5 |
Other | (2.4) | (0.8) |
Net cash provided by operating activities | 129.1 | 162.7 |
Investing Activities: | ||
Capital expenditures | (116.4) | (83.6) |
Other | (2.2) | (1) |
Net cash used in investing activities | (118.6) | (84.6) |
Financing Activities: | ||
Issuance of long-term debt | 90 | 75 |
Return of capital to Spire | (20) | (30) |
Repayments to Spire, net | (63) | (100.3) |
Dividends paid on common stock | (17) | (22.5) |
Other | (0.5) | (0.4) |
Net cash provided by (used in) financing activities | (10.5) | (78.2) |
Supplemental disclosure of cash paid for: | ||
Interest, net of amounts capitalized | (12.1) | (10) |
Income taxes | 0 | 0 |
Net Increase (Decrease) in Cash and Cash Equivalents | 0 | (0.1) |
Cash and Cash Equivalents at Beginning of Period | 0 | 0.1 |
Cash and Cash Equivalents at End of Period | $ 0 | $ 0 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION – These notes are an integral part of the accompanying unaudited financial statements of Spire Inc. (“Spire” or the “Company”) presented on a consolidated basis, Spire Missouri Inc. (“Spire Missouri” or the “Missouri Utilities”) and Spire Alabama Inc. (“Spire Alabama”). Spire Missouri and Spire Alabama are wholly owned subsidiaries of Spire. Spire Missouri, Spire Alabama and the subsidiaries of Spire EnergySouth Inc. (“Spire EnergySouth”) are collectively referred to as the “Utilities.” The subsidiaries of Spire EnergySouth are Spire Gulf Inc. and Spire Mississippi Inc. 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 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 adjustments) 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 Spire’s, Spire Missouri’s and Spire Alabama’s combined Annual Report on Form 10-K for the fiscal year ended September 30, 2018. The consolidated financial position, results of operations, and cash flows of Spire include the accounts of the Company and all its subsidiaries. Transactions and balances between consolidated entities have been eliminated from the consolidated financial statements of Spire. In compliance with GAAP, transactions between Spire Missouri and Spire Alabama and their affiliates, as well as intercompany balances on their balance sheets, have not been eliminated from their separate financial statements. NATURE OF OPERATIONS – Spire has two reportable segments: Gas Utility and Gas Marketing. The Gas Utility segment consists of the regulated natural gas distribution operations of the Company and is the core business segment of Spire in terms of revenue and earnings. The Gas Utility segment is comprised of the operations of: the Missouri Utilities, serving St. Louis and eastern Missouri (“Spire Missouri East”) and Kansas City and western Missouri (“Spire Missouri West”); Spire Alabama, serving central and northern Alabama; and the subsidiaries of Spire EnergySouth, serving southern Alabama and south-central Mississippi. The Gas Marketing segment includes Spire’s primary gas-related business, Spire Marketing Inc. (“Spire Marketing”), which provides non-regulated natural gas services. The activities of other subsidiaries are reported as Other and are described in Note 11 , Information by Operating Segment. Spire Missouri and Spire Alabama each have a single reportable segment. Nearly all the Company’s earnings are derived from its Gas Utility segment. Due to the seasonal nature of the Utilities’ business and the Spire Missouri rate design, earnings are typically concentrated during the heating season of November through April each fiscal year. As a result, the interim statements of income for Spire, Spire Missouri and Spire Alabama are not necessarily indicative of annual results or representative of succeeding quarters of the fiscal year. DERIVATIVES – In the course of their business, certain subsidiaries of Spire enter into commitments associated with the purchase or sale of natural gas. Certain of their 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 gross. 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 Spire Marketing’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 (or expenses, if negative) in the Condensed Consolidated Statements of Income. This net presentation has no effect on operating income or net income. 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 Mississippi Public Service Commission (“MSPSC”) and the Alabama Public Service Commission (“APSC”), the Purchased Gas Adjustment (“PGA”) clauses and Gas Supply Adjustment (“GSA”) riders allow the Utilities to pass through to customers the cost of purchased gas supplies. Regulatory assets and liabilities related to the PGA clauses and the GSA riders are both labeled Unamortized Purchased Gas Adjustments herein. See additional information about regulatory assets and liabilities in Note 4 , Regulatory Matters. TRANSACTIONS WITH AFFILIATES – Transactions between affiliates of the Company have been eliminated from the consolidated statements of Spire. Spire Missouri and Spire Alabama borrowed funds from the Company and incurred related interest, as reflected in their separate financial statements, and they participated in normal intercompany shared services transactions Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Purchases of natural gas from Spire Marketing $ 12.3 $ 10.4 $ 81.3 $ 52.0 Sales of natural gas to Spire Marketing 0.2 — 1.6 0.3 Transportation services received from Spire NGL Inc. 0.3 0.3 0.8 0.8 ACCRUED CAPITAL EXPENDITURES – Accrued capital expenditures, shown in the following table, are excluded from capital expenditures in the statements of cash flows until paid. June 30, September 30, June 30, 2019 2018 2018 Spire $ 60.2 $ 62.1 $ 33.8 Spire Missouri 26.3 36.7 21.9 Spire Alabama 9.0 8.9 9.9 NEW ACCOUNTING PRONOUNCEMENTS – Spire, Spire Missouri and Spire Alabama adopted the guidance in Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers , and related amendments (collectively, “ASC 606”), in the first quarter of fiscal year 2019 using the modified retrospective method applied to all contracts at October 1, 2018. The core principle of ASC 606 is that revenue should be recognized to depict the transfer of control of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Under the new standard, an entity must identify the performance obligations in a contract, determine the transaction price and allocate the price to specific performance obligations to recognize revenue when the obligation is completed. In addition, ASC 606 requires disclosure of the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The adoption of ASC 606 did not result in significant changes to how Spire, Spire Missouri and Spire Alabama recognize revenue, and therefore, no cumulative effect adjustment to the opening balance of retained earnings was required, and there was no significant impact to financial results after adoption. The adoption did result in changes to the disclosures about revenue, which are included in Note 2 , Revenue. Some revenue arrangements, such as alternative revenue programs and certain derivative contracts, are excluded from the scope of ASC 606 and, therefore, are presented separately in disclosures. Also effective October 1, 2018, Spire, Spire Missouri and Spire Alabama adopted ASU No. Compensation – Retirement Benefits : Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost The amended guidance that the of net periodic pension and postretirement benefit costs presented within line item in the income statement as other compensation costs (except for the amount being capitalized), while other components presented outside the subtotal of operating income and . The amended guidance is applied retrospectively for income statement presentation and prospectively for capitalization. The Company, Spire practical expedient permitting the use of the amounts disclosed in its pension and other postretirement benefit plan note for the prior comparative periods as the estimation basis for applying the retrospective presentation requirements. Accordingly, for the three months ended June 30, 2018, the Company, Spire Missouri and Spire Alabama reclassified net benefit costs (income) of $6.5, $5.7 and $1.0, respectively, from “operation and maintenance” to “other income (expense), net.” The corresponding amounts for the nine months ended June 30, 2018 were $13.7, $15.4 and $(1.1), respectively. The corresponding annual amounts to be reclassified for the years ended September 30, 2018, 2017 and 2016 are $14.4, $19.2 and $9.6 for the Company, respectively, $17.2, $17.2 and $11.2 for Spire Missouri, respectively, and $(2.0), $2.2 and $(1.6) for Spire Alabama, respectively. For Spire Missouri, Spire Alabama, and the Company’s other rate-regulated entities, all components of net benefit cost have historically been recovered from customers as a component of utility plant and will continue to be recovered in the same manner over the depreciable lives of the related plant assets; therefore, for those entities, the components that are no longer eligible to be capitalized as a component of plant under GAAP will be reported as regulatory assets Effective January 1, 2019, the Company, Spire Missouri and Spire Alabama adopted ASU No. Intangibles – Goodwill and Other – Internal-Use Software: Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract In February 2016, the FASB issued ASU No. 2016-02, Leases . The new standard requires lessees to recognize a right-of-use asset and lease liability for almost all lease contracts based on the present value of lease payments. There is an exemption for short-term leases. The ASU provides new guidelines for identifying and classifying a lease, and classification affects the pattern and income statement line item for the related expense. ASU Nos. 2018-01, 2018-10, 2018-11 , 2018-20 and 2019-01 subsequently amended several aspects of the new lease guidance, including providing an additional practical expedient, an additional transition method, and clarification of the related transition and accounting for land easements. The updates ( c ollectively, “ASC 842”) , may be applied using a modified retrospective transition method for leases existing at, or entered into after, the beginning of (1) the earliest comparative period presented in the financial statements or (2) the period of adoption. ASC 842 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company, Spire Missouri and Spire Alabama are currently assessing the impacts of adopting ASC 842 in the first quarter of fiscal 2020. They expect to elect all available practical expedients and apply the second transition method. Other than first-time recognition of operating leases on the balance sheets, t he implementation is not expected to have a significant impact on the financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities |
Revenue
Revenue | 9 Months Ended |
Jun. 30, 2019 | |
Revenue From Contract With Customer [Abstract] | |
Revenue | 2. REVENUE The following tables show revenue disaggregated by source and customer type. Three Months Ended June 30, 2019 Nine Months Ended June 30, 2019 Spire Gas Utility: Residential $ 188.1 $ 1,133.0 Commercial & industrial 68.5 384.7 Transportation 25.6 86.4 Off-system & other incentive 7.7 34.1 Other customer revenue 8.8 32.4 Total revenue from contracts with customers 298.7 1,670.6 Changes in accrued revenue under alternative revenue programs 2.9 (17.0 ) Total Gas Utility operating revenues 301.6 1,653.6 Gas Marketing: Revenue from contracts with retail customers 18.3 69.6 Revenue from wholesale derivative contracts — — Total Gas Marketing operating revenues 18.3 69.6 Other 4.6 14.3 Total before eliminations 324.5 1,737.5 Intersegment eliminations (see Note 11, Information by Operating Segment) (3.2 ) (10.7 ) Total Operating Revenues $ 321.3 $ 1,726.8 Spire Missouri Residential $ 133.4 $ 846.4 Commercial & industrial 39.6 257.9 Transportation 7.1 26.0 Off-system & other incentive 7.7 34.1 Other customer revenue 3.2 10.0 Total revenue from contracts with customers 191.0 1,174.4 Changes in accrued revenue under alternative revenue programs 0.4 (13.2 ) Total Operating Revenues $ 191.4 $ 1,161.2 Spire Alabama Residential $ 45.7 $ 238.0 Commercial & industrial 21.6 97.1 Transportation 16.3 53.3 Other customer revenue 4.9 19.8 Total revenue from contracts with customers 88.5 408.2 Changes in accrued revenue under alternative revenue programs 2.3 (3.5 ) Total Operating Revenues $ 90.8 $ 404.7 The Utilities sell natural gas to residential and other customers. The sale of natural gas is governed by the various state utility commissions, which set rates, charges, and terms and conditions of service, collectively included in a “tariff.” The performance obligation, which relates to the promise to provide natural gas, is satisfied over time as the customer simultaneously receives and consumes the natural gas, and revenue is recognized accordingly. The Utilities’ transportation revenue relates to the promise to transport the specified quantities of natural gas at tariff rates. This performance obligation is satisfied over time as the gas is transported, and revenue is recognized as invoiced monthly. The Utilities have alternative revenue programs (“ARPs”), which represent an agreement between the utility and its regulator, currently consisting of decoupling mechanisms (also known as weather normalization adjustments) and incentive programs (primarily Alabama’s Cost Control Measure). When the criteria to recognize additional (or reduced) revenue from ARPs have been met, the Utilities establish a regulatory asset (or liability). When amounts previously recognized for ARPs are billed, the Utilities reduce the regulatory asset (or liability) and increase (or decrease) accounts receivable. Billed amounts, which are part of the overall tariff paid by customers, are included in revenue from contracts with customers, while the change in the related regulatory asset or liability is presented as revenue from ARPs. Depending on whether the beginning accrued ARP balance was a regulatory asset or liability and depending on the size and direction of the current period accrual, the amount presented as revenue from ARPs could be negative. The Utilities read meters and bill customers on monthly cycles. The Missouri Utilities, Spire Gulf and Spire Mississippi 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. Spire Alabama records natural gas distribution revenues in accordance with the tariff established by the APSC. Unbilled revenue is accrued in an amount equal to the related gas cost, as profit margin is not considered earned until billed. Spire’s other subsidiaries, including Spire Marketing, record revenues when earned, as the product is delivered or as services are performed. Gas Marketing’s contracts are derivatives. The wholesale contracts (with producers, municipalities, and utility companies) are subject to derivative accounting. The retail contracts (with large commercial and industrial customers) are designated as “normal purchase, normal sale” arrangements and are therefore accounted for as revenue from contracts with customers. The performance obligation is satisfied over time by the transfer of control of natural gas to the customer, and revenue is recognized as invoiced monthly. Payments are generally required within 30 days of billing, and contracts generally do not have a significant financing component. Spire’s revenues are not subject to significant returns, refunds, or warranty obligations. Spire, Spire Missouri, and Spire Alabama have elected to apply a “right to invoice” practical expedient, recognizing revenue for volumes delivered for which they have a right to invoice, as long as that amount corresponds with the value to the customer. Disclosures about remaining performance obligations are not required because either contracts have an original expected duration of one year or less, or revenue is recognized under the right to invoice practical expedient, or both. Sales taxes imposed on applicable Spire Alabama and Spire Missouri sales are billed to customers. These amounts are not recorded in the statements of income but are recorded as tax collections payable and included in the “Other” line of the Current Liabilities section of the balance sheets. Gross receipts taxes associated with the Company’s natural gas utility services are imposed on the Company, Spire Missouri, and Spire Alabama and billed to its customers. The expense amounts (shown in the table below) are reported gross in the “Taxes, other than income taxes” line in the statements of income, and corresponding revenues are reported in “Operating Revenues.” Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Spire $ 18.2 $ 20.4 $ 87.6 $ 87.1 Spire Missouri 12.5 14.5 63.1 61.3 Spire Alabama 4.8 5.2 20.7 22.4 |
Earnings Per Common Share
Earnings Per Common Share | 9 Months Ended |
Jun. 30, 2019 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | 3. EARNINGS PER COMMON SHARE Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Basic (Loss) Earnings Per Common Share: Net (Loss) Income $ (3.0 ) $ 25.9 $ 218.9 $ 240.1 Less: Provision for preferred dividends 1.6 - 1.6 - Income allocated to participating securities - 0.1 0.5 0.5 (Loss) Income Available to Common Shareholders $ (4.6 ) $ 25.8 $ 216.8 $ 239.6 Weighted Average Common Shares Outstanding (in millions) 50.7 49.6 50.6 48.7 Basic (Loss) Earnings Per Common Share $ (0.09 ) $ 0.52 $ 4.28 $ 4.92 Diluted (Loss) Earnings Per Common Share: Net (Loss) Income $ (3.0 ) $ 25.9 $ 218.9 $ 240.1 Less: Provision for preferred dividends 1.6 - 1.6 - Income allocated to participating securities - 0.1 0.5 0.5 (Loss) Income Available to Common Shareholders $ (4.6 ) $ 25.8 $ 216.8 $ 239.6 Weighted Average Common Shares Outstanding (in millions) 50.7 49.6 50.6 48.7 Dilutive Effect of Restricted Stock and Restricted Stock Units (in millions)* 0.2 0.1 0.2 0.1 Weighted Average Diluted Common Shares (in millions) 50.9 49.7 50.8 48.8 Diluted (Loss) Earnings Per Common Share $ (0.09 ) $ 0.52 $ 4.27 $ 4.91 * Calculation excludes certain outstanding common shares (shown in millions by period at the right) attributable to stock units subject to performance or market conditions and restricted stock, which could have a dilutive effect in the future 0.3 0.4 0.3 0.4 |
Regulatory Matters
Regulatory Matters | 9 Months Ended |
Jun. 30, 2019 | |
Regulated Operations [Abstract] | |
Regulatory Matters | 4. REGULATORY MATTERS As explained in Note 1, Regulated Operations June 30, September 30, June 30, Spire 2019 2018 2018 Regulatory Assets: Current: Pension and postretirement benefit costs $ 30.1 $ 30.2 $ 43.2 Unamortized purchased gas adjustments 18.9 8.2 14.6 Other 30.0 34.4 38.9 Total Current Regulatory Assets 79.0 72.8 96.7 Noncurrent: Pension and postretirement benefit costs 335.7 364.9 369.4 Cost of removal 137.4 133.4 126.2 Future income taxes due from customers 105.7 96.3 130.5 Energy efficiency 32.6 32.8 31.8 Other 45.7 42.4 37.2 Total Noncurrent Regulatory Assets 657.1 669.8 695.1 Total Regulatory Assets $ 736.1 $ 742.6 $ 791.8 Regulatory Liabilities: Current: Pension and postretirement benefit costs $ 5.8 $ 2.2 $ 2.2 Unamortized purchased gas adjustments 3.3 2.9 1.1 Other 22.2 30.6 21.2 Total Current Regulatory Liabilities 31.3 35.7 24.5 Noncurrent: Deferred taxes due to customers 152.9 178.3 182.7 Pension and postretirement benefit costs 119.8 27.8 30.2 Accrued cost of removal 45.8 63.6 65.0 Unamortized purchased gas adjustments 47.9 4.7 37.0 Other 29.9 80.2 49.4 Total Noncurrent Regulatory Liabilities 396.3 354.6 364.3 Total Regulatory Liabilities $ 427.6 $ 390.3 $ 388.8 June 30, September 30, June 30, Spire Missouri 2019 2018 2018 Regulatory Assets: Current: Pension and postretirement benefit costs $ 21.9 $ 21.9 $ 34.9 Unamortized purchased gas adjustments 0.8 1.0 7.0 Other 7.5 7.8 13.2 Total Current Regulatory Assets 30.2 30.7 55.1 Noncurrent: Future income taxes due from customers 101.3 94.4 128.4 Pension and postretirement benefit costs 269.8 292.5 297.2 Energy efficiency 32.6 32.8 31.8 Other 25.5 21.4 16.4 Total Noncurrent Regulatory Assets 429.2 441.1 473.8 Total Regulatory Assets $ 459.4 $ 471.8 $ 528.9 Regulatory Liabilities: Current: Pension and postretirement benefit costs $ 3.6 $ — $ — Unamortized purchased gas adjustments 2.5 1.9 — Other 17.3 14.8 8.7 Total Current Regulatory Liabilities 23.4 16.7 8.7 Noncurrent: Deferred taxes due to customers 135.5 161.1 164.6 Pension and postretirement benefit costs 84.6 — — Accrued cost of removal 18.4 39.8 42.2 Unamortized purchased gas adjustments 47.9 4.7 37.0 Other 24.1 69.3 37.8 Total Noncurrent Regulatory Liabilities 310.5 274.9 281.6 Total Regulatory Liabilities $ 333.9 $ 291.6 $ 290.3 June 30, September 30, June 30, Spire Alabama 2019 2018 2018 Regulatory Assets: Current: Pension and postretirement benefit costs $ 7.3 $ 7.3 $ 7.3 Unamortized purchased gas adjustments 17.6 6.4 7.6 Other 9.0 12.5 12.0 Total Current Regulatory Assets 33.9 26.2 26.9 Noncurrent: Pension and postretirement benefit costs 59.3 64.8 64.5 Cost of removal 137.4 133.4 126.2 Other 3.2 3.3 2.7 Total Noncurrent Regulatory Assets 199.9 201.5 193.4 Total Regulatory Assets $ 233.8 $ 227.7 $ 220.3 Regulatory Liabilities: Current: Pension and postretirement benefit costs $ 2.3 $ 2.2 $ 2.2 Other 1.1 5.4 6.6 Total Current Regulatory Liabilities 3.4 7.6 8.8 Noncurrent: Pension and postretirement benefit costs 25.8 27.8 30.2 Other 4.0 3.5 3.5 Total Noncurrent Regulatory Liabilities 29.8 31.3 33.7 Total Regulatory Liabilities $ 33.2 $ 38.9 $ 42.5 A portion of the Company’s and Spire Missouri’s regulatory assets are not earning a return, as shown in the table below: June 30, September 30, June 30, 2019 2018 2018 Spire Pension and postretirement benefit costs $ 142.1 $ 148.4 $ 160.5 Future income taxes due from customers 105.7 96.3 130.5 Other 14.5 15.1 15.4 Total Regulatory Assets Not Earning a Return $ 262.3 $ 259.8 $ 306.4 Spire Missouri Pension and postretirement benefit costs $ 142.1 $ 148.4 $ 160.5 Future income taxes due from customers 101.3 94.4 128.4 Other 14.5 15.1 15.4 Total Regulatory Assets Not Earning a Return $ 257.9 $ 257.9 $ 304.3 Like all the Company’s regulatory assets, these regulatory assets are expected to be recovered from customers in future rates. The recovery period for the future income taxes due from customers and pension and other postretirement benefit costs could be 20 years or longer, based on current Internal Revenue Service (“IRS”) guidelines and average remaining service life of active participants, respectively. The other items not earning a return are expected to be recovered over a period not to exceed 15 years, consistent with precedent set by the MoPSC. Spire Alabama does not have any regulatory assets that are not earning a return. On March 7, 2018, the MoPSC issued its order in two general rate cases, approving new tariffs that became effective on April 19, 2018. On April 25, 2018, Spire Missouri filed an appeal of the MoPSC’s order related to the disallowance of certain pension costs incurred prior to 1997 ($28.8), real estate sold in 2014 ($1.8), and rate case expenses ($0.9) to Missouri’s Southern District Court of Appeals. On March 15, 2019, the appeal was denied by the Southern District, and Spire Missouri has requested review by the Missouri Supreme Court. In September 2016 and February 2017, Spire Missouri filed Infrastructure System Replacement Surcharge (“ISRS”) cases for both Spire Missouri East and Spire Missouri West (the “2016/2017 ISRS Cases”). The Missouri Office of the Public Counsel (“OPC”) appealed the MoPSC’s decisions approving these cases to Missouri’s Western District Court of Appeals, arguing that they contained ISRS-ineligible costs. In November 2017, the appellate court reversed the MoPSC’s decision in the 2016/2017 ISRS Cases and remanded the case back to the MoPSC. In June 2018, Spire Missouri filed to establish new ISRS rates in both its East and West divisions (the “2018 ISRS Cases”). In September 2018, the MoPSC issued a report and order finding that Spire Missouri’s ISRS petitions in the 2016/2017 ISRS Cases contained ISRS costs related to the replacement of plastic pipe components that should be removed from the requested revenue requirement; however, the MoPSC ordered that no adjustment to Spire Missouri’s revenues was necessary as the ISRS revenues approved in these cases had been rebased as part of its last general rate cases. Also in September 2018, the MoPSC issued a report and order in the 2018 ISRS Cases stating additional evidence was required to support all investments included in the Spire Missouri’s applications in order to support the recovery of costs related to the replacement of plastic pipe components and approved rates in the 2018 ISRS Cases providing annual revenues of $2.6 for Spire Missouri East and $5.4 for Spire Missouri West. Spire is appealing the removal of costs related to plastic in all cases in the Western District Court. On January 14, 2019, Spire Missouri refiled requests with additional information for approximately $3.2 of the ISRS revenues that were removed by the MoPSC in the 2018 ISRS Cases and filed new ISRS applications for both its East and West service territories. After updating the pro-forma months of December 2018 and January 2019, the revised filing requested approval of ISRS revenues of $7.4 for Spire Missouri East and $7.4 for Spire Missouri West related to investments made from July 1, 2018, through January 31, 2019. On May 3, 2019, the MoPSC issued their related report and order, dismissing the legacy amounts from the 2018 ISRS Cases, and granting ISRS revenues of $6.4 for Spire Missouri East and $6.8 for Spire Missouri West. This order included reductions for the removal and replacement of the plastic pipe. Spire Missouri has requested an application for rehearing for that ISRS case with the MoPSC. On July 15, 2019, Spire Missouri filed an additional ISRS application for $14.4 , which is an unadjusted ISRS revenue number that includes $ 3.0 from the 2018 ISRS Cases along with amounts related to investments made since January 31, 2019. In the event Spire Missouri does not get a favorable outcome in its appeal or application for rehearing, its July 15 filing proposed an alternative $ 11.0 ISRS amount, which takes into account the MoPSC Staff’s methodology for how to adjust for the removal and replacement of the plastic pipe . P er Missouri statute, new rates must become effective within 120 days of the application, or by November 12 , 2019. As part of the annual update for Rate Stabilization and Equalization (“RSE”), on November 30, 2018, Spire Alabama filed an increase for rate year 2019 of $8.7, which became effective December 1, 2018. There was no RSE reduction for the January 31, 2019 or April 30, 2019 quarterly points of test. At June 30, 2019, there was no estimated RSE reduction for the July 31, 2019 quarterly point of test because the rate of return on average common equity at the end of the year is expected to be within the allowed rate of return. On July 9, 2019, the APSC approved Spire Alabama’s application for $100.0 of additional long-term debt financing. On January 25, 2019, the Federal Energy Regulatory Commission (“FERC”) approved the Company’s application to combine its two adjacent natural gas storage facilities in Wyoming into one FERC certificate with a market-based tariff. On February 13, 2019, Spire Storage filed a prior notice request pursuant to the FERC’s regulations and Spire Storage’s blanket certificate authority proposing to construct and operate 10.1 miles of dual 20-inch-diameter pipeline, one new pipeline interconnection with measurement equipment, and related facilities in Uinta County, Wyoming. If authorized by the FERC, the pipeline, interconnection and measurement facilities, will allow Spire Storage to enhance the link between its two storage facilities, provide new, bi-directional access to Kern River Gas Transmission Company’s mainline and afford enhanced access with other interstate pipelines. On April 26, 2019, FERC staff filed a protest stating that Spire Storage did not provide documentation of the project’s compliance with the National Historic Preservation Act. Under the FERC’s regulations, a protested prior notice filing will be treated like a traditional application under Section 7 of the Natural Gas Act unless the protest is withdrawn within 30 days from the date upon which protests are due. On May 17, 2019, Spire Storage filed a notice to withdraw its prior notice request, stating that it was unable to obtain the required National Historic Preservation Act approvals before the end of the 30-day period prescribed by the FERC’s regulations. Under the terms of the January 2017 Precedent Agreement between Spire STL Pipeline and Spire Missouri, if Spire STL Pipeline files with FERC to increase its initial recourse rate at any time before the pipeline’s in-service date (estimated to be later this calendar year), and if FERC approves such request in whole or in part, then Spire Missouri’s negotiated rate will automatically increase by the same percentage increase to the initial recourse rate, up to a maximum increase of two cents per dekatherm per day. |
Shareholder's Equity
Shareholder's Equity | 9 Months Ended |
Jun. 30, 2019 | |
Stockholders Equity Note [Abstract] | |
Shareholder's Equity | 5. SHAREHOLDERS’ EQUITY Preferred Stock On May 21, 2019, Spire completed the public offering of 10,000,000 depositary shares (the “Depositary Shares”), each representing a 1/1,000 th Dividends on the Preferred Stock, when declared by Spire’s Board of Directors (the “Board”), will be payable on the liquidation preference amount, on a cumulative basis, quarterly in arrears on the 15 th Under the terms of the Preferred Stock, the Company’s ability to declare or pay dividends on, or purchase or redeem, shares of its common stock or any class or series of capital stock of the Company that rank junior to the Preferred Stock will be subject to certain restrictions in the event that the Company does not declare and pay the full cumulative dividends on the Preferred Stock through the most recently completed quarterly dividend period. Spire may, at its option, redeem the Preferred Stock (i) in whole, but not in part, at any time prior to August 15, 2024, within 120 days after a ratings event where a rating agency amends, clarifies or changes the criteria it uses to assign equity credit for securities such as the Preferred Stock, at a redemption price in cash equal to $25,500 per share, or (ii) in whole or in part, from time to time, on or after August 15, 2024, at a redemption price in cash equal to $25,000 per share, plus, in each case, all accumulated and unpaid dividends (whether declared or not) up to such redemption date. Shareholders of the Preferred Stock generally have no voting rights with respect to matters that generally require the approval of voting stockholders. The limited voting rights of holders of the Preferred Stock include the right to vote on certain matters that may affect the preference or special rights of the Preferred Stock. In addition, if and whenever dividends on any shares of Preferred Stock have not been declared and paid for at least six dividend periods, whether or not consecutive, the number of directors then constituting Spire’s Board of Directors shall automatically be increased by two (to be elected by the holders of the Preferred Stock) until all accumulated and unpaid dividends on the Preferred Stock have been paid in full. ATM Program On February 6, 2019, Spire entered into an at-the-market (ATM) equity distribution agreement, supplemented as of May 14, 2019, pursuant to which the Company may offer and sell, from time to time, shares of its common stock having an aggregate offering price of up to $150.0. Proceeds from this program are intended to be used (i) to fund, in part, investments related to the construction of infrastructure and infrastructure improvements in the Utilities, as well as pipelines and storage, and (ii) for general corporate purposes, including repayment of short-term debt and the adjustment from time to time of the Company’s capital structure. In the quarter ended June 30, 2019, Spire issued 59,630 shares under this program, generating $4.9 of proceeds net of issuance costs. |
Financing Arrangements and Long
Financing Arrangements and Long-term Debt | 9 Months Ended |
Jun. 30, 2019 | |
Debt Disclosure [Abstract] | |
Financing Arrangements and Long-term Debt | 6. FINANCING ARRANGEMENTS AND LONG-TERM DEBT Spire, Spire Missouri and Spire Alabama have a syndicated revolving credit facility pursuant to a loan agreement with 11 banks, expiring October 31, 2023. The loan agreement has an aggregate credit commitment of $975.0, including sublimits of $300.0 for Spire, $475.0 for Spire Missouri, and $200.0 for Spire Alabama. These sublimits may be reallocated from time to time among the three borrowers within the $975.0 aggregate commitment, with commitments fees applied for each borrower relative to its credit rating. Spire may use its line to provide for the funding needs of various subsidiaries. The agreement also contains financial covenants limiting each borrower’s consolidated total debt, including short-term debt, to no more than 70% of its total capitalization. As defined in the line of credit, on June 30, 2019, total debt was 50% of total capitalization for the consolidated Company, 47% for Spire Missouri, and 37% for Spire Alabama. There were no borrowings against this credit facility as of June 30, 2019, September 30, 2018, or June 30, 2018. Spire has a commercial paper program (“CP Program”) pursuant to which Spire may issue short-term, unsecured commercial paper notes. Amounts available under the CP Program may be borrowed, repaid and re-borrowed from time to time, with the aggregate face or principal amount of the notes outstanding under the CP Program at any time not to exceed $975.0. The notes may have maturities of up to 365 days from date of issue. Information about Spire’s consolidated short-term borrowings and about Spire Missouri’s and Spire Alabama’s borrowings from Spire is presented in the following table. As of June 30, 2019, $398.0 of Spire’s short-term borrowings were used to support lending to the Utilities. Spire Commercial Paper Borrowings Spire Missouri Borrowings from Spire Spire Alabama Borrowings from Spire Nine Months Ended June 30, 2019 Weighted average borrowings outstanding $557.6 $288.4 $100.0 Weighted average interest rate 2.8% 2.8% 2.8% Range of borrowings outstanding $363.0 – $689.3 $178.4 – $404.9 $43.8 – $169.2 As of June 30, 2019 Borrowings outstanding $434.0 $281.5 $79.6 Weighted average interest rate 2.7% 2.7% 2.7% As of September 30, 2018 Borrowings outstanding $553.6 $345.3 $142.5 Weighted average interest rate 2.4% 2.3% 2.3% As of June 30, 2018 Borrowings outstanding $191.0 $128.6 $69.6 Weighted average interest rate 2.5% 2.5% 2.5% The long-term debt agreements of Spire, Spire Missouri and Spire Alabama contain customary covenants and default provisions. As of June 30, 2019, there were no events of default under these covenants. Interest expense shown on Spire’s consolidated statements of income and Spire Missouri’s statements of comprehensive income is net of the capitalized interest amounts shown in the following table. Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Spire $ 2.0 $ 0.7 $ 4.6 $ 1.7 Spire Missouri 0.5 0.3 1.4 0.7 In October 2018, the Company settled a $10.0 non-interest-bearing note. In December 2018, Spire Missouri entered into a new loan agreement providing for a term loan of $100.0, which was fully funded on December 3, 2018, and which matures on December 1, 2021, subject to optional prepayment by Spire Missouri. Borrowings under the loan agreement bear interest at a rate determined by reference to the London Interbank Offered Rate (LIBOR), plus a margin based on Spire Missouri’s senior debt rating as determined by Standard & Poor’s Rating Services or Moody’s Investors Services, Inc. On January 15, 2019, Spire Alabama entered into the Second Supplement to Master Note Purchase Agreement with certain institutional investors. Pursuant to the terms of that supplement, Spire Alabama issued and sold to those institutional investors in a private placement $90.0 of 4.64% Series 2019A Senior Notes due January 15, 2049. The notes bear interest from the date of issuance, payable semi-annually on the 15th day of July and January of each year, commencing on July 15, 2019. The notes are senior unsecured obligations of Spire Alabama, rank equal in right to payment with all its other senior unsecured indebtedness, and have make-whole and par call options. Spire Alabama used the proceeds to repay short-term debt and for general corporate purposes. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 9 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | 7. FAIR VALUE OF FINANCIAL INSTRUMENTS The carrying amounts and estimated fair values of financial instruments not measured at fair value on a recurring basis are shown in the following tables, classified according to the fair value hierarchy. There were no such instruments classified as Level 3 (significant unobservable inputs) as of June 30, 2019, September 30, 2018, or June 30, 2018. 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 8 , Fair Value Measurements, for information on financial instruments measured at fair value on a recurring basis. Classification of Estimated Fair Value Carrying Amount Fair Value Quoted Prices in Active Markets (Level 1) Significant Observable Inputs (Level 2) Spire As of June 30, 2019 Cash and cash equivalents $ 5.8 $ 5.8 $ 5.8 $ — Notes payable 434.0 434.0 — 434.0 Long-term debt, including current portion 2,207.3 2,363.1 — 2,363.1 As of September 30, 2018 Cash and cash equivalents $ 4.4 $ 4.4 $ 4.4 $ — Notes payable 553.6 553.6 — 553.6 Long-term debt, including current portion 2,075.6 2,074.0 — 2,074.0 As of June 30, 2018 Cash and cash equivalents $ 6.9 $ 6.9 $ 6.9 $ — Notes payable 191.0 191.0 — 191.0 Long-term debt, including current portion 2,180.0 2,173.7 — 2,173.7 Spire Missouri As of June 30, 2019 Cash and cash equivalents $ 3.7 $ 3.7 $ 3.7 $ — Notes payable – 281.5 281.5 — 281.5 Long-term debt, including current portion 924.8 1,027.6 — 1,027.6 As of September 30, 2018 Cash and cash equivalents $ 2.0 $ 2.0 $ 2.0 $ — Notes payable – 345.3 345.3 — 345.3 Long-term debt, including current portion 874.4 906.6 — 906.6 As of June 30, 2018 Cash and cash equivalents $ 3.5 $ 3.5 $ 3.5 $ — Notes payable – 128.6 128.6 — 128.6 Long-term debt, including current portion 974.2 1,005.0 — 1,005.0 Spire Alabama As of June 30, 2019 Notes payable – 79.6 79.6 — 79.6 Long-term debt, including current portion 412.1 450.2 — 450.2 As of September 30, 2018 Notes payable – $ 142.5 $ 142.5 $ — $ 142.5 Long-term debt 322.6 321.7 — 321.7 As of June 30, 2018 Notes payable – $ 69.6 $ 69.6 $ — $ 69.6 Long-term debt 322.5 317.0 — 317.0 |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 8. FAIR VALUE MEASUREMENTS The information presented below categorizes 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. The mutual funds included in Level 1 are valued based on exchange-quoted market prices of individual securities. 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 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. 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 June 30, 2019, September 30, 2018, and June 30, 2018, 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 Spire Missouri’s 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, Spire Missouri, or Spire Alabama and the counterparty to a derivative contract. Spire 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 June 30, 2019 ASSETS Gas Utility: U.S. stock/bond mutual funds $ 20.4 $ — $ — $ — $ 20.4 Gas Marketing: NYMEX/ICE natural gas contracts 0.8 5.0 — (5.5 ) 0.3 Natural gas commodity contracts — 22.0 — (2.4 ) 19.6 Other: U.S. stock/bond mutual funds 16.6 — — — 16.6 Total $ 37.8 $ 27.0 $ — $ (7.9 ) $ 56.9 LIABILITIES Gas Utility: NYMEX/ICE natural gas contracts $ 11.1 $ — $ — $ (11.1 ) $ — Gas Marketing: NYMEX/ICE natural gas contracts $ 0.7 $ 5.4 $ — $ (6.1 ) $ — Natural gas commodity contracts — 15.2 0.2 (2.4 ) 13.0 Other: Interest rate swaps — 27.4 — — 27.4 Total $ 11.8 $ 48.0 $ 0.2 $ (19.6 ) $ 40.4 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 September 30, 2018 ASSETS Gas Utility: U.S. stock/bond mutual funds $ 20.3 $ — $ — $ — $ 20.3 NYMEX/ICE natural gas contracts 2.7 — — (2.7 ) — Gas Marketing: NYMEX/ICE natural gas contracts 0.2 4.0 — (4.2 ) — Natural gas commodity contracts — 17.5 — (1.5 ) 16.0 Other: U.S. stock/bond mutual funds 8.9 — — — 8.9 Interest rate swaps — 3.0 — — 3.0 Total $ 32.1 $ 24.5 $ — $ (8.4 ) $ 48.2 LIABILITIES Gas Utility: NYMEX/ICE natural gas contracts $ 1.9 $ — $ — $ (1.9 ) $ — Gas Marketing: NYMEX/ICE natural gas contracts 0.9 10.5 — (11.4 ) — Natural gas commodity contracts — 7.5 0.2 (1.5 ) 6.2 Total $ 2.8 $ 18.0 $ 0.2 $ (14.8 ) $ 6.2 As of June 30, 2018 ASSETS Gas Utility: U.S. stock/bond mutual funds $ 18.9 $ 4.1 $ — $ — $ 23.0 NYMEX/ICE natural gas contracts 1.7 — — (1.7 ) — Gas Marketing: NYMEX/ICE natural gas contracts 0.2 2.4 — (2.6 ) — Natural gas commodity contracts — 14.1 — (2.0 ) 12.1 Other: Interest rate swaps — 1.6 — — 1.6 Total $ 20.8 $ 22.2 $ — $ (6.3 ) $ 36.7 LIABILITIES Gas Utility: NYMEX/ICE natural gas contracts $ 0.2 $ — $ — $ (0.2 ) $ — Gas Marketing: NYMEX/ICE natural gas contracts 0.9 7.0 — (7.9 ) — Natural gas commodity contracts — 6.7 — (2.0 ) 4.7 Total $ 1.1 $ 13.7 $ — $ (10.1 ) $ 4.7 Spire Missouri 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 June 30, 2019 ASSETS U.S. stock/bond mutual funds $ 20.4 $ — $ — $ — $ 20.4 LIABILITIES NYMEX/ICE natural gas contracts $ 11.1 $ — $ — $ (11.1 ) $ — As of September 30, 2018 ASSETS U.S. stock/bond mutual funds $ 20.3 $ — $ — $ — $ 20.3 NYMEX/ICE natural gas contracts 2.7 — — (2.7 ) — Total $ 23.0 $ — $ — $ (2.7 ) $ 20.3 LIABILITIES NYMEX/ICE natural gas contracts $ 1.9 $ — $ — $ (1.9 ) $ — As of June 30, 2018 ASSETS U.S. stock/bond mutual funds $ 18.9 $ 4.1 $ — $ — $ 23.0 NYMEX/ICE natural gas contracts 1.7 — — (1.7 ) — Total $ 20.6 $ 4.1 $ — $ (1.7 ) $ 23.0 LIABILITIES NYMEX/ICE natural gas contracts $ 0.2 $ — $ — $ (0.2 ) $ — Spire Alabama Spire Alabama occasionally utilizes a gasoline derivative program to stabilize the cost of fuel used in operations. As of June 30, 2019, September 30, 2018, and June 30, 2018, Spire Alabama had no outstanding derivative contracts. |
Concentration of Credit Risk
Concentration of Credit Risk | 9 Months Ended |
Jun. 30, 2019 | |
Risks And Uncertainties [Abstract] | |
Concentration of Credit Risk | 9. CONCENTRATIONS OF CREDIT RISK Other than in Spire Marketing, Spire has no significant concentrations of credit risk. A significant portion of Spire Marketing’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, Spire Marketing 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, Spire Marketing may require credit assurances such as prepayments, letters of credit, or parental guarantees. In addition, Spire Marketing may enter into netting arrangements to mitigate credit risk with counterparties in the energy industry with whom it conducts both sales and purchases of 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. Spire Marketing records accounts receivable, accounts payable, and prepayments for physical sales and purchases of natural gas on a gross basis. The amount included in its accounts receivable attributable to energy producers and their marketing affiliates totaled $12.5 at June 30, 2019 ($5.8 reflecting netting arrangements). Spire Marketing’s accounts receivable attributable to utility companies and their marketing affiliates totaled $99.0 at June 30, 2019 ($89.3 reflecting netting arrangements). Spire Marketing also has concentrations of credit risk with pipeline companies associated with its natural gas receivable and with certain individually significant counterparties. At June 30, 2019, the amounts included in accounts receivable from its five largest counterparties (in terms of net accounts receivable exposure) totaled $48.3 ($44.9 reflecting netting arrangements). Four of these five counterparties are investment-grade rated companies. The fifth is not rated but each of its owners is investment-grade rated. |
Pension Plans and Other Postret
Pension Plans and Other Postretirement Benefits | 9 Months Ended |
Jun. 30, 2019 | |
Defined Contribution Pension And Other Postretirement Plans Disclosure [Abstract] | |
Pension Plans and Other Postretirement Benefits | 10. PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS Pension Plans Spire and the Utilities maintain pension plans for their employees. 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 (“U.S.”) government obligations and a growth segment consisting of exposure to equity markets, commodities, real estate and inflation-indexed securities, achieved through derivative instruments. Spire Alabama has non-contributory, defined benefit, trusteed forms of pension plans covering the majority of its employees. Qualified plan assets are comprised of mutual and commingled funds consisting of U.S. equities with varying strategies, global equities, alternative investments, and fixed income investments. The net periodic pension cost included the following components: Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Spire Service cost – benefits earned during the period $ 4.8 $ 4.8 $ 14.5 $ 15.2 Interest cost on projected benefit obligation* 7.1 6.5 21.2 20.3 Expected return on plan assets* (9.2 ) (8.6 ) (27.2 ) (27.8 ) Amortization of prior service credit* (0.3 ) (0.2 ) (0.9 ) (0.7 ) Amortization of actuarial loss* 2.3 2.4 6.9 8.4 Loss on lump-sum settlements* — 7.5 — 16.9 Subtotal 4.7 12.4 14.5 32.3 Regulatory adjustment 10.1 2.1 29.8 30.4 Net pension cost $ 14.8 $ 14.5 $ 44.3 $ 62.7 Spire Missouri Service cost – benefits earned during the period $ 3.2 $ 2.9 $ 9.4 $ 9.4 Interest cost on projected benefit obligation* 5.0 4.6 14.9 14.4 Expected return on plan assets* (6.5 ) (6.1 ) (19.2 ) (20.3 ) Amortization of prior service cost* 0.2 0.3 0.6 0.7 Amortization of actuarial loss* 2.2 2.0 6.5 7.1 Loss on lump-sum settlements* — 5.2 — 14.6 Subtotal 4.1 8.9 12.2 25.9 Regulatory adjustment 8.0 2.4 23.9 26.7 Net pension cost $ 12.1 $ 11.3 $ 36.1 $ 52.6 Spire Alabama Service cost – benefits earned during the period $ 1.5 $ 1.6 $ 4.6 $ 4.9 Interest cost on projected benefit obligation* 1.5 1.3 4.5 4.1 Expected return on plan assets* (1.8 ) (1.6 ) (5.4 ) (5.0 ) Amortization of prior service credit* (0.5 ) (0.5 ) (1.4 ) (1.4 ) Amortization of actuarial loss* 0.2 0.4 0.6 1.3 Loss on lump-sum settlements — 2.3 — 2.3 Subtotal 0.9 3.5 2.9 6.2 Regulatory adjustment 1.8 (0.6 ) 5.2 3.0 Net pension cost $ 2.7 $ 2.9 $ 8.1 $ 9.2 * Denotes pension expense line items that are recorded below the operating income line in the income statements, in the line item “Other Income (Expense), Net.” Pursuant to the provisions of the Missouri Utilities’ and Spire Alabama’s pension plans, pension obligations may be satisfied by monthly annuities, 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 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. For the third quarter and first nine months of fiscal 2019, no pension plans met the criteria for settlement recognition. In the quarter ended June 30, 2018, the two Missouri plans and one Alabama plan met the criteria, and the total lump-sum payments recognized as settlements was $34.5 (including $19.6 for Spire Missouri and $14.9 for Spire Alabama), resulting in total losses of $7.5 (including $5.2 for Spire Missouri and $2.3 for Spire Alabama). For the remeasurements, the discount rates for the Missouri plans were updated to 4.20% and 4.15% at June 30, 2018 (from 3.70% and 3.75% at September 30, 2017), and the discount rate for the Alabama plan was updated to 4.20% (from 3.65%). In the quarter ended March 31, 2018, the two Spire Missouri plans met the criteria for settlement recognition, resulting in the remeasurement of the obligation of the plans using updated census data and assumptions for discount and mortality. For these plans the total lump-sum payments recognized as settlements for plan remeasurement was $39.5 and the lump-sum settlements resulted in losses of $9.4. 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 2019 contributions to Spire Missouri’s pension plans through June 30, 2019 were $18.3 to the qualified trusts and none to non-qualified plans. There were no fiscal 2019 contributions to the Spire Alabama pension plans through June 30, 2019. Contributions to the qualified trusts of the Missouri Utilities’ pension plans for the remainder of fiscal 2019 are anticipated to be $8.4. No material contributions to Spire Alabama’s pension plans are expected to be required for the remainder of fiscal 2019. Other Postretirement Benefits Spire and the Utilities provide certain life insurance benefits at retirement. Spire Missouri plans provide for medical insurance after early retirement until age 65. For retirements prior to January 1, 2015, the Spire Missouri West plans provided medical insurance after retirement until death. The Spire Alabama plans provide medical insurance 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 costs consisted of the following components: Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Spire Service cost – benefits earned during the period $ 1.8 $ 2.3 $ 5.5 $ 7.0 Interest cost on accumulated postretirement benefit obligation* 2.3 2.2 6.7 6.6 Expected return on plan assets* (4.1 ) (3.5 ) (12.1 ) (10.5 ) Amortization of prior service credit* — — (0.1 ) (0.1 ) Amortization of actuarial (gain) loss* (0.1 ) 0.2 (0.4 ) 0.6 Subtotal (0.1 ) 1.2 (0.4 ) 3.6 Regulatory adjustment 2.5 0.7 7.5 0.8 Net postretirement benefit cost $ 2.4 $ 1.9 $ 7.1 $ 4.4 Spire Missouri Service cost – benefits earned during the period $ 1.7 $ 2.2 $ 5.1 $ 6.7 Interest cost on accumulated postretirement benefit obligation* 1.8 1.7 5.2 5.3 Expected return on plan assets* (2.8 ) (2.4 ) (8.3 ) (7.3 ) Amortization of prior service cost* 0.1 0.1 0.2 0.2 Amortization of actuarial (gain) loss* (0.1 ) 0.3 (0.4 ) 0.7 Subtotal 0.7 1.9 1.8 5.6 Regulatory adjustment 2.9 1.1 8.8 2.1 Net postretirement benefit cost $ 3.6 $ 3.0 $ 10.6 $ 7.7 Spire Alabama Service cost – benefits earned during the period $ 0.1 $ 0.1 $ 0.3 $ 0.2 Interest cost on accumulated postretirement benefit obligation* 0.4 0.4 1.3 1.1 Expected return on plan assets* (1.2 ) (1.1 ) (3.6 ) (3.1 ) Amortization of prior service credit* (0.1 ) (0.1 ) (0.3 ) (0.3 ) Amortization of actuarial gain — (0.1 ) — (0.1 ) Subtotal (0.8 ) (0.8 ) (2.3 ) (2.2 ) Regulatory adjustment (0.4 ) (0.5 ) (1.3 ) (1.4 ) Net postretirement benefit income $ (1.2 ) $ (1.3 ) $ (3.6 ) $ (3.6 ) * Denotes other postretirement expense line items that are recorded below the operating income line in the income statements, in the line item “Other Income (Expense), Net.” Missouri and Alabama state laws provide 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. 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 have been no |
Information by Operating Segmen
Information by Operating Segment | 9 Months Ended |
Jun. 30, 2019 | |
Segment Reporting [Abstract] | |
INFORMATION BY OPERATING SEGMENT | 11. INFORMATION BY OPERATING SEGMENT The Company has two reportable segments: Gas Utility and Gas Marketing. The Gas Utility segment is the aggregation of the operations of the Utilities. The Gas Marketing segment includes the results of Spire Marketing, a subsidiary engaged in the non-regulated marketing of natural gas and related activities, including utilizing natural gas storage contracts for providing natural gas sales. Other components of the Company’s consolidated information include: • unallocated corporate items, including certain debt and associated interest costs; • Spire STL Pipeline LLC, a subsidiary of Spire constructing and planning the operation of a 65-mile FERC-regulated pipeline to deliver natural gas into eastern Missouri; • Spire Storage, providing physical natural gas storage services; and • Spire’s subsidiaries engaged in the operation of a propane pipeline, compression of natural gas, and risk management, among other activities. Accounting policies are described in Note 1 , Summary of Significant Accounting Policies. Intersegment transactions include sales of natural gas from Spire Marketing to Spire Missouri, sales of natural gas from Spire Missouri to Spire Marketing, propane transportation services provided by Spire NGL Inc. to Spire Missouri, and propane storage services provided by Spire Missouri to Spire NGL Inc. Management evaluates the performance of the operating segments based on the computation of net economic earnings. Net economic earnings exclude from reported net income the after-tax impacts of fair value accounting and timing adjustments associated with energy-related transactions, the impacts of acquisition, divestiture and restructuring activities, and the largely non-cash impacts of other non-recurring or unusual items such as certain regulatory, legislative, or GAAP standard-setting actions. Gas Utility Gas Marketing Other Eliminations Consolidated Three Months Ended June 30, 2019 Operating Revenues: Revenues from external customers $ 301.4 $ 18.4 $ 1.5 $ — $ 321.3 Intersegment revenues 0.2 (0.1 ) 3.1 (3.2 ) — Total Operating Revenues 301.6 18.3 4.6 (3.2 ) 321.3 Operating Expenses: Gas Utility Natural and propane gas 88.1 — — (12.6 ) 75.5 Operation and maintenance 113.4 — — (2.2 ) 111.2 Depreciation and amortization 45.1 — — — 45.1 Taxes, other than income taxes 29.7 — — — 29.7 Total Gas Utility Operating Expenses 276.3 — — (14.8 ) 261.5 Gas Marketing and Other — 25.3 9.6 11.6 46.5 Total Operating Expenses 276.3 25.3 9.6 (3.2 ) 308.0 Operating Income (Loss) $ 25.3 $ (7.0 ) $ (5.0 ) $ — $ 13.3 Net Economic Earnings (Loss) $ 7.6 $ 3.3 $ (5.9 ) $ — $ 5.0 Gas Utility Gas Marketing Other Eliminations Consolidated Three Months Ended June 30, 2018 Operating Revenues: Revenues from external customers $ 334.8 $ 14.4 $ 1.4 $ — $ 350.6 Intersegment revenues — — 2.9 (2.9 ) — Total Operating Revenues 334.8 14.4 4.3 (2.9 ) 350.6 Operating Expenses: Gas Utility Natural and propane gas 117.9 — — (10.7 ) 107.2 Operation and maintenance 101.4 — — (2.3 ) 99.1 Depreciation and amortization 40.5 — — — 40.5 Taxes, other than income taxes 33.5 — — — 33.5 Total Gas Utility Operating Expenses 293.3 — — (13.0 ) 280.3 Gas Marketing and Other — (7.2 ) 8.5 10.1 11.4 Total Operating Expenses 293.3 (7.2 ) 8.5 (2.9 ) 291.7 Operating Income (Loss) $ 41.5 $ 21.6 $ (4.2 ) $ — $ 58.9 Net Economic Earnings (Loss) $ 16.9 $ 4.4 $ (6.1 ) $ — $ 15.2 Gas Utility Gas Marketing Other Eliminations Consolidated Nine Months Ended June 30, 2019 Operating Revenues: Revenues from external customers $ 1,651.9 $ 69.6 $ 5.3 $ — $ 1,726.8 Intersegment revenues 1.7 — 9.0 (10.7 ) — Total Operating Revenues 1,653.6 69.6 14.3 (10.7 ) 1,726.8 Operating Expenses: Gas Utility Natural and propane gas 746.6 — — (82.0 ) 664.6 Operation and maintenance 330.3 — — (7.1 ) 323.2 Depreciation and amortization 133.2 — — — 133.2 Taxes, other than income taxes 126.3 — — — 126.3 Total Gas Utility Operating Expenses 1,336.4 — — (89.1 ) 1,247.3 Gas Marketing and Other — 47.3 25.9 78.4 151.6 Total Operating Expenses 1,336.4 47.3 25.9 (10.7 ) 1,398.9 Operating Income (Loss) $ 317.2 $ 22.3 $ (11.6 ) $ — $ 327.9 Net Economic Earnings (Loss) $ 220.7 $ 17.8 $ (19.7 ) $ — $ 218.8 Gas Utility Gas Marketing Other Eliminations Consolidated Nine Months Ended June 30, 2018 Operating Revenues: Revenues from external customers $ 1,667.3 $ 55.3 $ 3.2 $ — $ 1,725.8 Intersegment revenues 0.3 — 8.3 (8.6 ) — Total Operating Revenues 1,667.6 55.3 11.5 (8.6 ) 1,725.8 Operating Expenses: Gas Utility Natural and propane gas 784.5 — — (52.8 ) 731.7 Operation and maintenance 339.8 — — (6.4 ) 333.4 Depreciation and amortization 121.9 — — — 121.9 Taxes, other than income taxes 128.2 — — — 128.2 Total Gas Utility Operating Expenses 1,374.4 — — (59.2 ) 1,315.2 Gas Marketing and Other — 27.6 19.4 50.6 97.6 Total Operating Expenses 1,374.4 27.6 19.4 (8.6 ) 1,412.8 Operating Income (Loss) $ 293.2 $ 27.7 $ (7.9 ) $ — $ 313.0 Net Economic Earnings (Loss) $ 208.1 $ 18.2 $ (16.0 ) $ — $ 210.3 The Company’s total assets by segment were as follows: June 30, September 30, June 30, 2019 2018 2018 Total Assets: Gas Utility $ 5,830.1 $ 5,606.7 $ 5,445.5 Gas Marketing 232.3 295.3 234.5 Other 2,537.4 2,508.0 2,135.9 Eliminations (1,267.8 ) (1,566.4 ) (1,231.0 ) Total Assets $ 7,332.0 $ 6,843.6 $ 6,584.9 The following table reconciles the Company’s net economic earnings to net income. Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Net Income $ (3.0 ) $ 25.9 $ 218.9 $ 240.1 Adjustments, pre-tax: Missouri regulatory adjustments — — — 30.6 Unrealized loss (gain) on energy-related derivatives 8.0 (16.0 ) (3.3 ) (3.4 ) Realized gain on economic hedges prior to the sale of the physical commodity — — — (0.3 ) Lower of cost or market inventory adjustments 2.7 — 2.7 — Acquisition, divestiture and restructuring activities — 3.3 0.4 7.0 Income tax effect of adjustments (2.7 ) 2.0 0.1 (9.7 ) Effect of the Tax Cuts and Jobs Act — — — (54.0 ) Net Economic Earnings $ 5.0 $ 15.2 $ 218.8 $ 210.3 |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Jun. 30, 2019 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 12. COMMITMENTS AND CONTINGENCIES Commitments The Company and the Utilities have entered into contracts with various counterparties, expiring on dates through 2032, for the storage, transportation, and supply of natural gas. Minimum payments required under the contracts in place at June 30, 2019, are estimated at $1,541.9, $611.8, and $342.9 for the Company, Spire Missouri, and Spire Alabama, respectively. Additional contracts are generally entered into prior to or during the heating season of November through April. The Utilities recover their costs from customers in accordance with their PGA clauses or GSA riders. Contingencies The Company and the Utilities account for contingencies, including environmental liabilities, in accordance with accounting standards under the loss contingency guidance of ASC Topic 450, Contingencies In addition to matters noted below, the Company and the Utilities are involved in other litigation, claims, and investigations arising in the normal course of business. Management, after discussion with counsel, believes the final outcome will not have a material effect on the statements of income, balance sheets, and statements of cash flows of the Company, Spire Missouri, or Spire Alabama. However, there is uncertainty in the valuation of pending claims and prediction of litigation results. The Company and the Utilities own and operate 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 Utilities’ financial position and results of operations. As environmental laws, regulations, and their interpretations change, the Company or the Utilities may incur additional environmental liabilities that may result in additional costs, which may be material. In the natural gas industry, many gas distribution companies have incurred environmental liabilities associated with sites they or their predecessor companies formerly owned or operated where manufactured gas operations took place. The Utilities each have former manufactured gas plant ( “ MGP ” ) operations in their respective service territories. To the extent costs are incurred associated with environmental remediation activities, the Utilities would request authority from their respective regulators to defer such costs (less any amounts received from insurance proceeds or as contributions from other potentially responsible parties ( “ PRPs ” ) ) and collect them through future rates. Spire Missouri Spire Missouri has identified three former MGP sites in the city of St. Louis, Missouri (the “City”) where costs have been incurred and claims have been asserted. Spire Missouri has enrolled two of the sites in the Missouri Department of Natural Resources (“MDNR”) Brownfields/Voluntary Cleanup Program (“BVCP”). The third site is the result of a relatively new claim assertion by the U.S. Environmental Protection Agency (“EPA”) and such claim is currently being investigated. In conjunction with redevelopment of one of the sites, Spire Missouri and another former owner of the site entered into an agreement (the “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 MDNR. The Remediation Agreement also provides for a release of Spire Missouri 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 Spire Missouri 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 Spire Missouri did not materially impact the financial condition, results of operations, or cash flows of the Company. Spire Missouri has not owned the second site for many years. In a letter dated June 29, 2011, the Attorney General for the State of Missouri informed Spire Missouri that the MDNR had completed an investigation of the site. The Attorney General requested that Spire Missouri participate in the follow up investigations of the site. In a letter dated January 10, 2012, Spire Missouri stated that it would participate in future environmental response activities at the site in conjunction with other PRPs that are willing to contribute to such efforts in a meaningful and equitable fashion. Accordingly, Spire Missouri entered into a cost sharing agreement for remedial investigation with other PRPs. To date, MDNR has not approved the agreement, so remedial investigation has not yet occurred. Additionally, in correspondence dated November 30, 2016, Region 7 of the EPA has asserted that Spire Missouri is liable under Section 107(a) of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (“CERCLA”) for alleged coal gas waste contamination at a third site in the northern portion of the City on which Spire Missouri operated a MGP. Spire Missouri has not owned or operated the site for over 70 years. Spire Missouri and the site owner have met with the EPA and reviewed its assertions. Both Spire Missouri and the site owner have notified the EPA that information and data provided by the EPA to date does not rise to the level of documenting a threat to the public health or environment. As such, Spire Missouri requested more information from the EPA, some of which would also be utilized to identify other former owners and operators of the site that could be added as PRPs. To date, Spire Missouri has not received a response from the EPA. Spire Missouri 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, Spire Missouri retains the right to seek potential reimbursements from them. On March 10, 2015, Spire Missouri received a Section 104(e) information request under CERCLA from EPA Region 7 regarding the former Thompson Chemical/Superior Solvents site in the City. In turn, Spire Missouri 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. Spire Missouri has received no further inquiry from the EPA regarding this matter. In its western service area, Spire Missouri 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. On September 15, 2016, a request was made with the MDNR for a restrictive covenant use limitation with respect to Joplin. Remediation efforts at the seven sites are at various stages of completion, ranging from groundwater monitoring and sampling following source removal activities to the aforementioned request in respect to Joplin. As part of its participation in the BVCP, Spire Missouri communicates regularly with the MDNR with respect to its remediation efforts and monitoring activities at these sites. On May 11, 2015, MDNR approved the next phase of investigation at the Kansas City Station A North and Railroad areas. 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 Spire Missouri 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 PRPs to pay, and any insurance recoveries. In 2013, Spire Missouri retained an outside consultant to conduct probabilistic cost modeling of 19 former MGP sites owned or operated by Spire 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. Spire Missouri has recorded its best estimate of the probable expenditures that relate to these matters. The amount is not material. Spire Missouri 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. Spire Alabama 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. Spire Alabama cooperated with the National Transportation Safety Board (“NTSB”) which investigated the incident. The NTSB report of findings was issued on March 30, 2016 and no safety recommendations, fines, or penalties were contained therein. Spire Alabama has been named as a defendant in several lawsuits arising from the incident, some of which remain pending. Spire Alabama has reached an agreement in principle to resolve all remaining lawsuits arising from this incident and does not expect potential liabilities that may arise from these lawsuits to have a material impact on its future financial condition or results of operations. Spire Alabama 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. Spire Alabama does not foresee a probable or reasonably estimable loss associated with these sites. Spire Alabama 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. In 2012, Spire Alabama responded to an EPA Request for Information Pursuant to Section 104 of CERCLA relating to the 35th Avenue Superfund Site located in North Birmingham, Jefferson County, Alabama. Spire Alabama 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, Spire Alabama 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. Spire In addition to those discussed above for Spire Missouri and Spire Alabama, Spire is aware of the following contingent matters. Since April 2012, a total of 14 lawsuits encompassing more than 1,600 plaintiffs have been filed against Spire Gulf in Mobile County Circuit Court alleging that in the first half of 2008, Spire Gulf spilled tert-butyl mercaptan, an odorant added to natural gas for safety reasons, in Eight Mile, Alabama. All of the lawsuits have been substantially settled, with the exception of 13 individuals who rejected their settlement offers and whose claims remain pending. Those remaining claims allege nuisance, fraud and negligence causes of actions and seek unspecified compensatory and punitive damages. A claim has been made against the insurance carriers requesting reimbursement for costs accrued in respect to this spill, and a related receivable has been recorded. The Company does not expect potential liabilities that may arise from these lawsuits to have a material impact on its future financial condition or results of operations. |
Income Taxes
Income Taxes | 9 Months Ended |
Jun. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 13. INCOME TAXES The Tax Cuts and Jobs Act (“TCJA”) was signed into law on December 22, 2017, with an effective date of January 1, 2018, for substantially all of the provisions. The specific provisions related to regulated public utilities in the TCJA generally allow for the continued deductibility of interest expense, the elimination of full expensing for tax purposes of certain property acquired after September 27, 2017, and the continuation of certain rate normalization requirements for accelerated depreciation benefits. The Department of the Treasury (“Treasury”) has issued proposed regulations associated with the deductibility of interest expense, but further clarification of certain provisions is expected. Treasury has also issued proposed regulations on bonus depreciation which allow full expensing for certain property acquired in tax years beginning prior to January 1, 2018. As indicated in Note 1 , Summary of Significant Accounting Policies, the Company’s regulated operations accounting for income taxes is impacted by ASC 980, Regulated Operations |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Basis of Presentation | BASIS OF PRESENTATION – These notes are an integral part of the accompanying unaudited financial statements of Spire Inc. (“Spire” or the “Company”) presented on a consolidated basis, Spire Missouri Inc. (“Spire Missouri” or the “Missouri Utilities”) and Spire Alabama Inc. (“Spire Alabama”). Spire Missouri and Spire Alabama are wholly owned subsidiaries of Spire. Spire Missouri, Spire Alabama and the subsidiaries of Spire EnergySouth Inc. (“Spire EnergySouth”) are collectively referred to as the “Utilities.” The subsidiaries of Spire EnergySouth are Spire Gulf Inc. and Spire Mississippi Inc. 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 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 adjustments) 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 Spire’s, Spire Missouri’s and Spire Alabama’s combined Annual Report on Form 10-K for the fiscal year ended September 30, 2018. The consolidated financial position, results of operations, and cash flows of Spire include the accounts of the Company and all its subsidiaries. Transactions and balances between consolidated entities have been eliminated from the consolidated financial statements of Spire. In compliance with GAAP, transactions between Spire Missouri and Spire Alabama and their affiliates, as well as intercompany balances on their balance sheets, have not been eliminated from their separate financial statements. |
Derivatives | DERIVATIVES – In the course of their business, certain subsidiaries of Spire enter into commitments associated with the purchase or sale of natural gas. Certain of their 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 gross. 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 Spire Marketing’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 (or expenses, if negative) in the Condensed Consolidated Statements of Income. This net presentation has no effect on operating income or net 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. As authorized by the Missouri Public Service Commission (“MoPSC”), the Mississippi Public Service Commission (“MSPSC”) and the Alabama Public Service Commission (“APSC”), the Purchased Gas Adjustment (“PGA”) clauses and Gas Supply Adjustment (“GSA”) riders allow the Utilities to pass through to customers the cost of purchased gas supplies. Regulatory assets and liabilities related to the PGA clauses and the GSA riders are both labeled Unamortized Purchased Gas Adjustments herein. See additional information about regulatory assets and liabilities in Note 4 , Regulatory Matters. |
Transactions with Affiliates | TRANSACTIONS WITH AFFILIATES – Transactions between affiliates of the Company have been eliminated from the consolidated statements of Spire. Spire Missouri and Spire Alabama borrowed funds from the Company and incurred related interest, as reflected in their separate financial statements, and they participated in normal intercompany shared services transactions |
Accrued Capital Expenditures | ACCRUED CAPITAL EXPENDITURES – Accrued capital expenditures, shown in the following table, are excluded from capital expenditures in the statements of cash flows until paid. |
New Accounting Pronouncements | NEW ACCOUNTING PRONOUNCEMENTS – Spire, Spire Missouri and Spire Alabama adopted the guidance in Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers , and related amendments (collectively, “ASC 606”), in the first quarter of fiscal year 2019 using the modified retrospective method applied to all contracts at October 1, 2018. The core principle of ASC 606 is that revenue should be recognized to depict the transfer of control of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Under the new standard, an entity must identify the performance obligations in a contract, determine the transaction price and allocate the price to specific performance obligations to recognize revenue when the obligation is completed. In addition, ASC 606 requires disclosure of the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The adoption of ASC 606 did not result in significant changes to how Spire, Spire Missouri and Spire Alabama recognize revenue, and therefore, no cumulative effect adjustment to the opening balance of retained earnings was required, and there was no significant impact to financial results after adoption. The adoption did result in changes to the disclosures about revenue, which are included in Note 2 , Revenue. Some revenue arrangements, such as alternative revenue programs and certain derivative contracts, are excluded from the scope of ASC 606 and, therefore, are presented separately in disclosures. Also effective October 1, 2018, Spire, Spire Missouri and Spire Alabama adopted ASU No. Compensation – Retirement Benefits : Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost The amended guidance that the of net periodic pension and postretirement benefit costs presented within line item in the income statement as other compensation costs (except for the amount being capitalized), while other components presented outside the subtotal of operating income and . The amended guidance is applied retrospectively for income statement presentation and prospectively for capitalization. The Company, Spire practical expedient permitting the use of the amounts disclosed in its pension and other postretirement benefit plan note for the prior comparative periods as the estimation basis for applying the retrospective presentation requirements. Accordingly, for the three months ended June 30, 2018, the Company, Spire Missouri and Spire Alabama reclassified net benefit costs (income) of $6.5, $5.7 and $1.0, respectively, from “operation and maintenance” to “other income (expense), net.” The corresponding amounts for the nine months ended June 30, 2018 were $13.7, $15.4 and $(1.1), respectively. The corresponding annual amounts to be reclassified for the years ended September 30, 2018, 2017 and 2016 are $14.4, $19.2 and $9.6 for the Company, respectively, $17.2, $17.2 and $11.2 for Spire Missouri, respectively, and $(2.0), $2.2 and $(1.6) for Spire Alabama, respectively. For Spire Missouri, Spire Alabama, and the Company’s other rate-regulated entities, all components of net benefit cost have historically been recovered from customers as a component of utility plant and will continue to be recovered in the same manner over the depreciable lives of the related plant assets; therefore, for those entities, the components that are no longer eligible to be capitalized as a component of plant under GAAP will be reported as regulatory assets Effective January 1, 2019, the Company, Spire Missouri and Spire Alabama adopted ASU No. Intangibles – Goodwill and Other – Internal-Use Software: Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract In February 2016, the FASB issued ASU No. 2016-02, Leases . The new standard requires lessees to recognize a right-of-use asset and lease liability for almost all lease contracts based on the present value of lease payments. There is an exemption for short-term leases. The ASU provides new guidelines for identifying and classifying a lease, and classification affects the pattern and income statement line item for the related expense. ASU Nos. 2018-01, 2018-10, 2018-11 , 2018-20 and 2019-01 subsequently amended several aspects of the new lease guidance, including providing an additional practical expedient, an additional transition method, and clarification of the related transition and accounting for land easements. The updates ( c ollectively, “ASC 842”) , may be applied using a modified retrospective transition method for leases existing at, or entered into after, the beginning of (1) the earliest comparative period presented in the financial statements or (2) the period of adoption. ASC 842 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company, Spire Missouri and Spire Alabama are currently assessing the impacts of adopting ASC 842 in the first quarter of fiscal 2020. They expect to elect all available practical expedients and apply the second transition method. Other than first-time recognition of operating leases on the balance sheets, t he implementation is not expected to have a significant impact on the financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Schedule of Inter-Company Transactions | In addition, Spire Missouri’s other transactions with affiliates included Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Purchases of natural gas from Spire Marketing $ 12.3 $ 10.4 $ 81.3 $ 52.0 Sales of natural gas to Spire Marketing 0.2 — 1.6 0.3 Transportation services received from Spire NGL Inc. 0.3 0.3 0.8 0.8 |
Schedule of capital expenditures excluded from statement of cash flow | Accrued capital expenditures, shown in the following table, are excluded from capital expenditures in the statements of cash flows until paid. June 30, September 30, June 30, 2019 2018 2018 Spire $ 60.2 $ 62.1 $ 33.8 Spire Missouri 26.3 36.7 21.9 Spire Alabama 9.0 8.9 9.9 |
Revenue (Tables)
Revenue (Tables) | 9 Months Ended |
Jun. 30, 2019 | |
Revenue From Contract With Customer [Abstract] | |
Schedule of Revenue Disaggregated by Source and Customer Type | The following tables show revenue disaggregated by source and customer type. Three Months Ended June 30, 2019 Nine Months Ended June 30, 2019 Spire Gas Utility: Residential $ 188.1 $ 1,133.0 Commercial & industrial 68.5 384.7 Transportation 25.6 86.4 Off-system & other incentive 7.7 34.1 Other customer revenue 8.8 32.4 Total revenue from contracts with customers 298.7 1,670.6 Changes in accrued revenue under alternative revenue programs 2.9 (17.0 ) Total Gas Utility operating revenues 301.6 1,653.6 Gas Marketing: Revenue from contracts with retail customers 18.3 69.6 Revenue from wholesale derivative contracts — — Total Gas Marketing operating revenues 18.3 69.6 Other 4.6 14.3 Total before eliminations 324.5 1,737.5 Intersegment eliminations (see Note 11, Information by Operating Segment) (3.2 ) (10.7 ) Total Operating Revenues $ 321.3 $ 1,726.8 Spire Missouri Residential $ 133.4 $ 846.4 Commercial & industrial 39.6 257.9 Transportation 7.1 26.0 Off-system & other incentive 7.7 34.1 Other customer revenue 3.2 10.0 Total revenue from contracts with customers 191.0 1,174.4 Changes in accrued revenue under alternative revenue programs 0.4 (13.2 ) Total Operating Revenues $ 191.4 $ 1,161.2 Spire Alabama Residential $ 45.7 $ 238.0 Commercial & industrial 21.6 97.1 Transportation 16.3 53.3 Other customer revenue 4.9 19.8 Total revenue from contracts with customers 88.5 408.2 Changes in accrued revenue under alternative revenue programs 2.3 (3.5 ) Total Operating Revenues $ 90.8 $ 404.7 |
Schedule of Gross Receipts Taxes | The expense amounts (shown in the table below) are reported gross in the “Taxes, other than income taxes” line in the statements of income, and corresponding revenues are reported in “Operating Revenues.” Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Spire $ 18.2 $ 20.4 $ 87.6 $ 87.1 Spire Missouri 12.5 14.5 63.1 61.3 Spire Alabama 4.8 5.2 20.7 22.4 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 9 Months Ended |
Jun. 30, 2019 | |
Earnings Per Share [Abstract] | |
Schedule of Basic and Diluted Earnings Per Share | Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Basic (Loss) Earnings Per Common Share: Net (Loss) Income $ (3.0 ) $ 25.9 $ 218.9 $ 240.1 Less: Provision for preferred dividends 1.6 - 1.6 - Income allocated to participating securities - 0.1 0.5 0.5 (Loss) Income Available to Common Shareholders $ (4.6 ) $ 25.8 $ 216.8 $ 239.6 Weighted Average Common Shares Outstanding (in millions) 50.7 49.6 50.6 48.7 Basic (Loss) Earnings Per Common Share $ (0.09 ) $ 0.52 $ 4.28 $ 4.92 Diluted (Loss) Earnings Per Common Share: Net (Loss) Income $ (3.0 ) $ 25.9 $ 218.9 $ 240.1 Less: Provision for preferred dividends 1.6 - 1.6 - Income allocated to participating securities - 0.1 0.5 0.5 (Loss) Income Available to Common Shareholders $ (4.6 ) $ 25.8 $ 216.8 $ 239.6 Weighted Average Common Shares Outstanding (in millions) 50.7 49.6 50.6 48.7 Dilutive Effect of Restricted Stock and Restricted Stock Units (in millions)* 0.2 0.1 0.2 0.1 Weighted Average Diluted Common Shares (in millions) 50.9 49.7 50.8 48.8 Diluted (Loss) Earnings Per Common Share $ (0.09 ) $ 0.52 $ 4.27 $ 4.91 * Calculation excludes certain outstanding common shares (shown in millions by period at the right) attributable to stock units subject to performance or market conditions and restricted stock, which could have a dilutive effect in the future 0.3 0.4 0.3 0.4 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 9 Months Ended |
Jun. 30, 2019 | |
Regulated Operations [Abstract] | |
Schedule of Regulatory Assets and Liabilities | The following regulatory assets and regulatory liabilities were reflected in the balance sheets of the Company, Spire Missouri and Spire Alabama as of June 30, 2019, September 30, 2018, and June 30, 2018. June 30, September 30, June 30, Spire 2019 2018 2018 Regulatory Assets: Current: Pension and postretirement benefit costs $ 30.1 $ 30.2 $ 43.2 Unamortized purchased gas adjustments 18.9 8.2 14.6 Other 30.0 34.4 38.9 Total Current Regulatory Assets 79.0 72.8 96.7 Noncurrent: Pension and postretirement benefit costs 335.7 364.9 369.4 Cost of removal 137.4 133.4 126.2 Future income taxes due from customers 105.7 96.3 130.5 Energy efficiency 32.6 32.8 31.8 Other 45.7 42.4 37.2 Total Noncurrent Regulatory Assets 657.1 669.8 695.1 Total Regulatory Assets $ 736.1 $ 742.6 $ 791.8 Regulatory Liabilities: Current: Pension and postretirement benefit costs $ 5.8 $ 2.2 $ 2.2 Unamortized purchased gas adjustments 3.3 2.9 1.1 Other 22.2 30.6 21.2 Total Current Regulatory Liabilities 31.3 35.7 24.5 Noncurrent: Deferred taxes due to customers 152.9 178.3 182.7 Pension and postretirement benefit costs 119.8 27.8 30.2 Accrued cost of removal 45.8 63.6 65.0 Unamortized purchased gas adjustments 47.9 4.7 37.0 Other 29.9 80.2 49.4 Total Noncurrent Regulatory Liabilities 396.3 354.6 364.3 Total Regulatory Liabilities $ 427.6 $ 390.3 $ 388.8 June 30, September 30, June 30, Spire Missouri 2019 2018 2018 Regulatory Assets: Current: Pension and postretirement benefit costs $ 21.9 $ 21.9 $ 34.9 Unamortized purchased gas adjustments 0.8 1.0 7.0 Other 7.5 7.8 13.2 Total Current Regulatory Assets 30.2 30.7 55.1 Noncurrent: Future income taxes due from customers 101.3 94.4 128.4 Pension and postretirement benefit costs 269.8 292.5 297.2 Energy efficiency 32.6 32.8 31.8 Other 25.5 21.4 16.4 Total Noncurrent Regulatory Assets 429.2 441.1 473.8 Total Regulatory Assets $ 459.4 $ 471.8 $ 528.9 Regulatory Liabilities: Current: Pension and postretirement benefit costs $ 3.6 $ — $ — Unamortized purchased gas adjustments 2.5 1.9 — Other 17.3 14.8 8.7 Total Current Regulatory Liabilities 23.4 16.7 8.7 Noncurrent: Deferred taxes due to customers 135.5 161.1 164.6 Pension and postretirement benefit costs 84.6 — — Accrued cost of removal 18.4 39.8 42.2 Unamortized purchased gas adjustments 47.9 4.7 37.0 Other 24.1 69.3 37.8 Total Noncurrent Regulatory Liabilities 310.5 274.9 281.6 Total Regulatory Liabilities $ 333.9 $ 291.6 $ 290.3 June 30, September 30, June 30, Spire Alabama 2019 2018 2018 Regulatory Assets: Current: Pension and postretirement benefit costs $ 7.3 $ 7.3 $ 7.3 Unamortized purchased gas adjustments 17.6 6.4 7.6 Other 9.0 12.5 12.0 Total Current Regulatory Assets 33.9 26.2 26.9 Noncurrent: Pension and postretirement benefit costs 59.3 64.8 64.5 Cost of removal 137.4 133.4 126.2 Other 3.2 3.3 2.7 Total Noncurrent Regulatory Assets 199.9 201.5 193.4 Total Regulatory Assets $ 233.8 $ 227.7 $ 220.3 Regulatory Liabilities: Current: Pension and postretirement benefit costs $ 2.3 $ 2.2 $ 2.2 Other 1.1 5.4 6.6 Total Current Regulatory Liabilities 3.4 7.6 8.8 Noncurrent: Pension and postretirement benefit costs 25.8 27.8 30.2 Other 4.0 3.5 3.5 Total Noncurrent Regulatory Liabilities 29.8 31.3 33.7 Total Regulatory Liabilities $ 33.2 $ 38.9 $ 42.5 |
Schedule of Regulatory Assets Not Earning a Return | A portion of the Company’s and Spire Missouri’s regulatory assets are not earning a return, as shown in the table below: June 30, September 30, June 30, 2019 2018 2018 Spire Pension and postretirement benefit costs $ 142.1 $ 148.4 $ 160.5 Future income taxes due from customers 105.7 96.3 130.5 Other 14.5 15.1 15.4 Total Regulatory Assets Not Earning a Return $ 262.3 $ 259.8 $ 306.4 Spire Missouri Pension and postretirement benefit costs $ 142.1 $ 148.4 $ 160.5 Future income taxes due from customers 101.3 94.4 128.4 Other 14.5 15.1 15.4 Total Regulatory Assets Not Earning a Return $ 257.9 $ 257.9 $ 304.3 |
Financing Arrangements and Lo_2
Financing Arrangements and Long-term Debt (Tables) | 9 Months Ended |
Jun. 30, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of Spire Missouri and Alabama Short-term Borrowings | Information about Spire’s consolidated short-term borrowings and about Spire Missouri’s and Spire Alabama’s borrowings from Spire is presented in the following table. As of June 30, 2019, $398.0 of Spire’s short-term borrowings were used to support lending to the Utilities. Spire Commercial Paper Borrowings Spire Missouri Borrowings from Spire Spire Alabama Borrowings from Spire Nine Months Ended June 30, 2019 Weighted average borrowings outstanding $557.6 $288.4 $100.0 Weighted average interest rate 2.8% 2.8% 2.8% Range of borrowings outstanding $363.0 – $689.3 $178.4 – $404.9 $43.8 – $169.2 As of June 30, 2019 Borrowings outstanding $434.0 $281.5 $79.6 Weighted average interest rate 2.7% 2.7% 2.7% As of September 30, 2018 Borrowings outstanding $553.6 $345.3 $142.5 Weighted average interest rate 2.4% 2.3% 2.3% As of June 30, 2018 Borrowings outstanding $191.0 $128.6 $69.6 Weighted average interest rate 2.5% 2.5% 2.5% |
Summary Capitalized Interest | Interest expense shown on Spire’s consolidated statements of income and Spire Missouri’s statements of comprehensive income is net of the capitalized interest amounts shown in the following table. Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Spire $ 2.0 $ 0.7 $ 4.6 $ 1.7 Spire Missouri 0.5 0.3 1.4 0.7 |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Summary of Financial Instruments Measured at Fair Value on Recurring Basis | Classification of Estimated Fair Value Carrying Amount Fair Value Quoted Prices in Active Markets (Level 1) Significant Observable Inputs (Level 2) Spire As of June 30, 2019 Cash and cash equivalents $ 5.8 $ 5.8 $ 5.8 $ — Notes payable 434.0 434.0 — 434.0 Long-term debt, including current portion 2,207.3 2,363.1 — 2,363.1 As of September 30, 2018 Cash and cash equivalents $ 4.4 $ 4.4 $ 4.4 $ — Notes payable 553.6 553.6 — 553.6 Long-term debt, including current portion 2,075.6 2,074.0 — 2,074.0 As of June 30, 2018 Cash and cash equivalents $ 6.9 $ 6.9 $ 6.9 $ — Notes payable 191.0 191.0 — 191.0 Long-term debt, including current portion 2,180.0 2,173.7 — 2,173.7 Spire Missouri As of June 30, 2019 Cash and cash equivalents $ 3.7 $ 3.7 $ 3.7 $ — Notes payable – 281.5 281.5 — 281.5 Long-term debt, including current portion 924.8 1,027.6 — 1,027.6 As of September 30, 2018 Cash and cash equivalents $ 2.0 $ 2.0 $ 2.0 $ — Notes payable – 345.3 345.3 — 345.3 Long-term debt, including current portion 874.4 906.6 — 906.6 As of June 30, 2018 Cash and cash equivalents $ 3.5 $ 3.5 $ 3.5 $ — Notes payable – 128.6 128.6 — 128.6 Long-term debt, including current portion 974.2 1,005.0 — 1,005.0 Spire Alabama As of June 30, 2019 Notes payable – 79.6 79.6 — 79.6 Long-term debt, including current portion 412.1 450.2 — 450.2 As of September 30, 2018 Notes payable – $ 142.5 $ 142.5 $ — $ 142.5 Long-term debt 322.6 321.7 — 321.7 As of June 30, 2018 Notes payable – $ 69.6 $ 69.6 $ — $ 69.6 Long-term debt 322.5 317.0 — 317.0 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Jun. 30, 2019 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis | The information presented below categorizes 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. The mutual funds included in Level 1 are valued based on exchange-quoted market prices of individual securities. 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 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. 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 June 30, 2019, September 30, 2018, and June 30, 2018, 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 Spire Missouri’s 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, Spire Missouri, or Spire Alabama and the counterparty to a derivative contract. Spire 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 June 30, 2019 ASSETS Gas Utility: U.S. stock/bond mutual funds $ 20.4 $ — $ — $ — $ 20.4 Gas Marketing: NYMEX/ICE natural gas contracts 0.8 5.0 — (5.5 ) 0.3 Natural gas commodity contracts — 22.0 — (2.4 ) 19.6 Other: U.S. stock/bond mutual funds 16.6 — — — 16.6 Total $ 37.8 $ 27.0 $ — $ (7.9 ) $ 56.9 LIABILITIES Gas Utility: NYMEX/ICE natural gas contracts $ 11.1 $ — $ — $ (11.1 ) $ — Gas Marketing: NYMEX/ICE natural gas contracts $ 0.7 $ 5.4 $ — $ (6.1 ) $ — Natural gas commodity contracts — 15.2 0.2 (2.4 ) 13.0 Other: Interest rate swaps — 27.4 — — 27.4 Total $ 11.8 $ 48.0 $ 0.2 $ (19.6 ) $ 40.4 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 September 30, 2018 ASSETS Gas Utility: U.S. stock/bond mutual funds $ 20.3 $ — $ — $ — $ 20.3 NYMEX/ICE natural gas contracts 2.7 — — (2.7 ) — Gas Marketing: NYMEX/ICE natural gas contracts 0.2 4.0 — (4.2 ) — Natural gas commodity contracts — 17.5 — (1.5 ) 16.0 Other: U.S. stock/bond mutual funds 8.9 — — — 8.9 Interest rate swaps — 3.0 — — 3.0 Total $ 32.1 $ 24.5 $ — $ (8.4 ) $ 48.2 LIABILITIES Gas Utility: NYMEX/ICE natural gas contracts $ 1.9 $ — $ — $ (1.9 ) $ — Gas Marketing: NYMEX/ICE natural gas contracts 0.9 10.5 — (11.4 ) — Natural gas commodity contracts — 7.5 0.2 (1.5 ) 6.2 Total $ 2.8 $ 18.0 $ 0.2 $ (14.8 ) $ 6.2 As of June 30, 2018 ASSETS Gas Utility: U.S. stock/bond mutual funds $ 18.9 $ 4.1 $ — $ — $ 23.0 NYMEX/ICE natural gas contracts 1.7 — — (1.7 ) — Gas Marketing: NYMEX/ICE natural gas contracts 0.2 2.4 — (2.6 ) — Natural gas commodity contracts — 14.1 — (2.0 ) 12.1 Other: Interest rate swaps — 1.6 — — 1.6 Total $ 20.8 $ 22.2 $ — $ (6.3 ) $ 36.7 LIABILITIES Gas Utility: NYMEX/ICE natural gas contracts $ 0.2 $ — $ — $ (0.2 ) $ — Gas Marketing: NYMEX/ICE natural gas contracts 0.9 7.0 — (7.9 ) — Natural gas commodity contracts — 6.7 — (2.0 ) 4.7 Total $ 1.1 $ 13.7 $ — $ (10.1 ) $ 4.7 |
Spire Missouri | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Schedule of Fair Value Assets and Liabilities 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 June 30, 2019 ASSETS U.S. stock/bond mutual funds $ 20.4 $ — $ — $ — $ 20.4 LIABILITIES NYMEX/ICE natural gas contracts $ 11.1 $ — $ — $ (11.1 ) $ — As of September 30, 2018 ASSETS U.S. stock/bond mutual funds $ 20.3 $ — $ — $ — $ 20.3 NYMEX/ICE natural gas contracts 2.7 — — (2.7 ) — Total $ 23.0 $ — $ — $ (2.7 ) $ 20.3 LIABILITIES NYMEX/ICE natural gas contracts $ 1.9 $ — $ — $ (1.9 ) $ — As of June 30, 2018 ASSETS U.S. stock/bond mutual funds $ 18.9 $ 4.1 $ — $ — $ 23.0 NYMEX/ICE natural gas contracts 1.7 — — (1.7 ) — Total $ 20.6 $ 4.1 $ — $ (1.7 ) $ 23.0 LIABILITIES NYMEX/ICE natural gas contracts $ 0.2 $ — $ — $ (0.2 ) $ — |
Pension Plans and Other Postr_2
Pension Plans and Other Postretirement Benefits (Tables) | 9 Months Ended |
Jun. 30, 2019 | |
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 June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Spire Service cost – benefits earned during the period $ 4.8 $ 4.8 $ 14.5 $ 15.2 Interest cost on projected benefit obligation* 7.1 6.5 21.2 20.3 Expected return on plan assets* (9.2 ) (8.6 ) (27.2 ) (27.8 ) Amortization of prior service credit* (0.3 ) (0.2 ) (0.9 ) (0.7 ) Amortization of actuarial loss* 2.3 2.4 6.9 8.4 Loss on lump-sum settlements* — 7.5 — 16.9 Subtotal 4.7 12.4 14.5 32.3 Regulatory adjustment 10.1 2.1 29.8 30.4 Net pension cost $ 14.8 $ 14.5 $ 44.3 $ 62.7 Spire Missouri Service cost – benefits earned during the period $ 3.2 $ 2.9 $ 9.4 $ 9.4 Interest cost on projected benefit obligation* 5.0 4.6 14.9 14.4 Expected return on plan assets* (6.5 ) (6.1 ) (19.2 ) (20.3 ) Amortization of prior service cost* 0.2 0.3 0.6 0.7 Amortization of actuarial loss* 2.2 2.0 6.5 7.1 Loss on lump-sum settlements* — 5.2 — 14.6 Subtotal 4.1 8.9 12.2 25.9 Regulatory adjustment 8.0 2.4 23.9 26.7 Net pension cost $ 12.1 $ 11.3 $ 36.1 $ 52.6 Spire Alabama Service cost – benefits earned during the period $ 1.5 $ 1.6 $ 4.6 $ 4.9 Interest cost on projected benefit obligation* 1.5 1.3 4.5 4.1 Expected return on plan assets* (1.8 ) (1.6 ) (5.4 ) (5.0 ) Amortization of prior service credit* (0.5 ) (0.5 ) (1.4 ) (1.4 ) Amortization of actuarial loss* 0.2 0.4 0.6 1.3 Loss on lump-sum settlements — 2.3 — 2.3 Subtotal 0.9 3.5 2.9 6.2 Regulatory adjustment 1.8 (0.6 ) 5.2 3.0 Net pension cost $ 2.7 $ 2.9 $ 8.1 $ 9.2 * Denotes pension expense line items that are recorded below the operating income line in the income statements, in the line item “Other Income (Expense), Net.” |
Postretirement Plans | |
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Net periodic cost | Net periodic postretirement benefit costs consisted of the following components: Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Spire Service cost – benefits earned during the period $ 1.8 $ 2.3 $ 5.5 $ 7.0 Interest cost on accumulated postretirement benefit obligation* 2.3 2.2 6.7 6.6 Expected return on plan assets* (4.1 ) (3.5 ) (12.1 ) (10.5 ) Amortization of prior service credit* — — (0.1 ) (0.1 ) Amortization of actuarial (gain) loss* (0.1 ) 0.2 (0.4 ) 0.6 Subtotal (0.1 ) 1.2 (0.4 ) 3.6 Regulatory adjustment 2.5 0.7 7.5 0.8 Net postretirement benefit cost $ 2.4 $ 1.9 $ 7.1 $ 4.4 Spire Missouri Service cost – benefits earned during the period $ 1.7 $ 2.2 $ 5.1 $ 6.7 Interest cost on accumulated postretirement benefit obligation* 1.8 1.7 5.2 5.3 Expected return on plan assets* (2.8 ) (2.4 ) (8.3 ) (7.3 ) Amortization of prior service cost* 0.1 0.1 0.2 0.2 Amortization of actuarial (gain) loss* (0.1 ) 0.3 (0.4 ) 0.7 Subtotal 0.7 1.9 1.8 5.6 Regulatory adjustment 2.9 1.1 8.8 2.1 Net postretirement benefit cost $ 3.6 $ 3.0 $ 10.6 $ 7.7 Spire Alabama Service cost – benefits earned during the period $ 0.1 $ 0.1 $ 0.3 $ 0.2 Interest cost on accumulated postretirement benefit obligation* 0.4 0.4 1.3 1.1 Expected return on plan assets* (1.2 ) (1.1 ) (3.6 ) (3.1 ) Amortization of prior service credit* (0.1 ) (0.1 ) (0.3 ) (0.3 ) Amortization of actuarial gain — (0.1 ) — (0.1 ) Subtotal (0.8 ) (0.8 ) (2.3 ) (2.2 ) Regulatory adjustment (0.4 ) (0.5 ) (1.3 ) (1.4 ) Net postretirement benefit income $ (1.2 ) $ (1.3 ) $ (3.6 ) $ (3.6 ) * Denotes other postretirement expense line items that are recorded below the operating income line in the income statements, in the line item “Other Income (Expense), Net.” |
Information by Operating Segm_2
Information by Operating Segment (Tables) | 9 Months Ended |
Jun. 30, 2019 | |
Segment Reporting [Abstract] | |
Schedule of operating segment information | Gas Utility Gas Marketing Other Eliminations Consolidated Three Months Ended June 30, 2019 Operating Revenues: Revenues from external customers $ 301.4 $ 18.4 $ 1.5 $ — $ 321.3 Intersegment revenues 0.2 (0.1 ) 3.1 (3.2 ) — Total Operating Revenues 301.6 18.3 4.6 (3.2 ) 321.3 Operating Expenses: Gas Utility Natural and propane gas 88.1 — — (12.6 ) 75.5 Operation and maintenance 113.4 — — (2.2 ) 111.2 Depreciation and amortization 45.1 — — — 45.1 Taxes, other than income taxes 29.7 — — — 29.7 Total Gas Utility Operating Expenses 276.3 — — (14.8 ) 261.5 Gas Marketing and Other — 25.3 9.6 11.6 46.5 Total Operating Expenses 276.3 25.3 9.6 (3.2 ) 308.0 Operating Income (Loss) $ 25.3 $ (7.0 ) $ (5.0 ) $ — $ 13.3 Net Economic Earnings (Loss) $ 7.6 $ 3.3 $ (5.9 ) $ — $ 5.0 Gas Utility Gas Marketing Other Eliminations Consolidated Three Months Ended June 30, 2018 Operating Revenues: Revenues from external customers $ 334.8 $ 14.4 $ 1.4 $ — $ 350.6 Intersegment revenues — — 2.9 (2.9 ) — Total Operating Revenues 334.8 14.4 4.3 (2.9 ) 350.6 Operating Expenses: Gas Utility Natural and propane gas 117.9 — — (10.7 ) 107.2 Operation and maintenance 101.4 — — (2.3 ) 99.1 Depreciation and amortization 40.5 — — — 40.5 Taxes, other than income taxes 33.5 — — — 33.5 Total Gas Utility Operating Expenses 293.3 — — (13.0 ) 280.3 Gas Marketing and Other — (7.2 ) 8.5 10.1 11.4 Total Operating Expenses 293.3 (7.2 ) 8.5 (2.9 ) 291.7 Operating Income (Loss) $ 41.5 $ 21.6 $ (4.2 ) $ — $ 58.9 Net Economic Earnings (Loss) $ 16.9 $ 4.4 $ (6.1 ) $ — $ 15.2 Gas Utility Gas Marketing Other Eliminations Consolidated Nine Months Ended June 30, 2019 Operating Revenues: Revenues from external customers $ 1,651.9 $ 69.6 $ 5.3 $ — $ 1,726.8 Intersegment revenues 1.7 — 9.0 (10.7 ) — Total Operating Revenues 1,653.6 69.6 14.3 (10.7 ) 1,726.8 Operating Expenses: Gas Utility Natural and propane gas 746.6 — — (82.0 ) 664.6 Operation and maintenance 330.3 — — (7.1 ) 323.2 Depreciation and amortization 133.2 — — — 133.2 Taxes, other than income taxes 126.3 — — — 126.3 Total Gas Utility Operating Expenses 1,336.4 — — (89.1 ) 1,247.3 Gas Marketing and Other — 47.3 25.9 78.4 151.6 Total Operating Expenses 1,336.4 47.3 25.9 (10.7 ) 1,398.9 Operating Income (Loss) $ 317.2 $ 22.3 $ (11.6 ) $ — $ 327.9 Net Economic Earnings (Loss) $ 220.7 $ 17.8 $ (19.7 ) $ — $ 218.8 Gas Utility Gas Marketing Other Eliminations Consolidated Nine Months Ended June 30, 2018 Operating Revenues: Revenues from external customers $ 1,667.3 $ 55.3 $ 3.2 $ — $ 1,725.8 Intersegment revenues 0.3 — 8.3 (8.6 ) — Total Operating Revenues 1,667.6 55.3 11.5 (8.6 ) 1,725.8 Operating Expenses: Gas Utility Natural and propane gas 784.5 — — (52.8 ) 731.7 Operation and maintenance 339.8 — — (6.4 ) 333.4 Depreciation and amortization 121.9 — — — 121.9 Taxes, other than income taxes 128.2 — — — 128.2 Total Gas Utility Operating Expenses 1,374.4 — — (59.2 ) 1,315.2 Gas Marketing and Other — 27.6 19.4 50.6 97.6 Total Operating Expenses 1,374.4 27.6 19.4 (8.6 ) 1,412.8 Operating Income (Loss) $ 293.2 $ 27.7 $ (7.9 ) $ — $ 313.0 Net Economic Earnings (Loss) $ 208.1 $ 18.2 $ (16.0 ) $ — $ 210.3 The Company’s total assets by segment were as follows: June 30, September 30, June 30, 2019 2018 2018 Total Assets: Gas Utility $ 5,830.1 $ 5,606.7 $ 5,445.5 Gas Marketing 232.3 295.3 234.5 Other 2,537.4 2,508.0 2,135.9 Eliminations (1,267.8 ) (1,566.4 ) (1,231.0 ) Total Assets $ 7,332.0 $ 6,843.6 $ 6,584.9 |
Schedule of reconciliation of consolidated net economic earnings to consolidated net income | The following table reconciles the Company’s net economic earnings to net income. Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Net Income $ (3.0 ) $ 25.9 $ 218.9 $ 240.1 Adjustments, pre-tax: Missouri regulatory adjustments — — — 30.6 Unrealized loss (gain) on energy-related derivatives 8.0 (16.0 ) (3.3 ) (3.4 ) Realized gain on economic hedges prior to the sale of the physical commodity — — — (0.3 ) Lower of cost or market inventory adjustments 2.7 — 2.7 — Acquisition, divestiture and restructuring activities — 3.3 0.4 7.0 Income tax effect of adjustments (2.7 ) 2.0 0.1 (9.7 ) Effect of the Tax Cuts and Jobs Act — — — (54.0 ) Net Economic Earnings $ 5.0 $ 15.2 $ 218.8 $ 210.3 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Details) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Jun. 30, 2018USD ($) | Jun. 30, 2019reporting_unit | Jun. 30, 2019operating-segment | Jun. 30, 2018USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Number of operating segments | 2 | 2 | |||||
ASU 2017-07 | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Reclassification of net periodic benefit costs (income) to other income (expense) | $ 6.5 | $ 13.7 | $ 14.4 | $ 19.2 | $ 9.6 | ||
Spire Missouri | ASU 2017-07 | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Reclassification of net periodic benefit costs (income) to other income (expense) | 5.7 | 15.4 | 17.2 | 17.2 | 11.2 | ||
Spire Alabama | ASU 2017-07 | |||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||||||
Reclassification of net periodic benefit costs (income) to other income (expense) | $ 1 | $ (1.1) | $ (2) | $ 2.2 | $ (1.6) |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Schedule of Inter-company Transactions (Details) - Affiliated Entity - Spire Missouri - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Spire Marketing | Regulated Operation | ||||
Related Party Transaction [Line Items] | ||||
Purchases of natural gas from Spire Marketing | $ 12.3 | $ 10.4 | $ 81.3 | $ 52 |
Sales of natural gas to Spire Marketing | 0.2 | 1.6 | 0.3 | |
Spire NGL Inc. | Unregulated Operation | ||||
Related Party Transaction [Line Items] | ||||
Transportation services received from Spire NGL Inc. | $ 0.3 | $ 0.3 | $ 0.8 | $ 0.8 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Accrued Capital Expenditures (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | Sep. 30, 2018 | |
Schedule Of Accrued Capital Expenditures Excluded From Statement Of Cash Flow [Line Items] | |||
Accruals for capital expenditures | $ 60.2 | $ 33.8 | $ 62.1 |
Spire Missouri | |||
Schedule Of Accrued Capital Expenditures Excluded From Statement Of Cash Flow [Line Items] | |||
Accruals for capital expenditures | 26.3 | 21.9 | 36.7 |
Spire Alabama | |||
Schedule Of Accrued Capital Expenditures Excluded From Statement Of Cash Flow [Line Items] | |||
Accruals for capital expenditures | $ 9 | $ 9.9 | $ 8.9 |
Revenue - Schedule of Revenue D
Revenue - Schedule of Revenue Disaggregated by Source and Customer Type (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | $ 301.4 | $ 334.8 | $ 1,651.9 | $ 1,667.3 |
Total operating revenues | 19.9 | 15.8 | 74.9 | 58.5 |
Total operating revenues | 321.3 | 350.6 | 1,726.8 | 1,725.8 |
Intersegment Eliminations | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | (3.2) | (2.9) | (10.7) | (8.6) |
Gas Utility | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 301.4 | 334.8 | 1,651.9 | 1,667.3 |
Gas Utility | Operating Segments | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 301.6 | 334.8 | 1,653.6 | 1,667.6 |
Gas Utility | Intersegment Eliminations | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 0.2 | 0 | 1.7 | 0.3 |
Gas Marketing | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 18.4 | 14.4 | 69.6 | 55.3 |
Gas Marketing | Operating Segments | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 18.3 | 14.4 | 69.6 | $ 55.3 |
Gas Marketing | Intersegment Eliminations | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | (0.1) | $ 0 | ||
Spire | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 321.3 | 1,726.8 | ||
Spire | Operating Segments | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 324.5 | 1,737.5 | ||
Spire | Intersegment Eliminations | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | (3.2) | (10.7) | ||
Spire | Gas Utility | Operating Segments | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 298.7 | 1,670.6 | ||
Changes in accrued revenue under alternative revenue programs | 2.9 | (17) | ||
Total operating revenues | 301.6 | 1,653.6 | ||
Spire | Gas Utility | Operating Segments | Residential | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 188.1 | 1,133 | ||
Spire | Gas Utility | Operating Segments | Commercial & Industrial | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 68.5 | 384.7 | ||
Spire | Gas Utility | Operating Segments | Transportation | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 25.6 | 86.4 | ||
Spire | Gas Utility | Operating Segments | Off-system & Other Incentive | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 7.7 | 34.1 | ||
Spire | Gas Utility | Operating Segments | Other Customer Revenue | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 8.8 | 32.4 | ||
Spire | Gas Marketing | Operating Segments | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 18.3 | 69.6 | ||
Spire | Gas Marketing | Operating Segments | Revenue From Contracts With Retail Customers | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 18.3 | 69.6 | ||
Spire | Other | Operating Segments | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | $ 4.6 | $ 14.3 |
Revenue - Schedule of Operating
Revenue - Schedule of Operating Revenue Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Disaggregation Of Revenue [Line Items] | ||||
Total Operating Revenues | $ 321.3 | $ 350.6 | $ 1,726.8 | $ 1,725.8 |
Spire Missouri | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 191 | 1,174.4 | ||
Changes in accrued revenue under alternative revenue programs | 0.4 | (13.2) | ||
Total Operating Revenues | 191.4 | 215.5 | 1,161.2 | 1,141 |
Spire Missouri | Residential | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 133.4 | 846.4 | ||
Spire Missouri | Commercial & Industrial | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 39.6 | 257.9 | ||
Spire Missouri | Transportation | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 7.1 | 26 | ||
Spire Missouri | Off-system & Other Incentive | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 7.7 | 34.1 | ||
Spire Missouri | Other Customer Revenue | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 3.2 | 10 | ||
Spire Alabama | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 88.5 | 408.2 | ||
Changes in accrued revenue under alternative revenue programs | 2.3 | (3.5) | ||
Total Operating Revenues | 90.8 | $ 100.3 | 404.7 | $ 439.4 |
Spire Alabama | Residential | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 45.7 | 238 | ||
Spire Alabama | Commercial & Industrial | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 21.6 | 97.1 | ||
Spire Alabama | Transportation | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | 16.3 | 53.3 | ||
Spire Alabama | Other Customer Revenue | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total operating revenues | $ 4.9 | $ 19.8 |
Revenue - Additional Informatio
Revenue - Additional Information (Details) | 9 Months Ended |
Jun. 30, 2019 | |
Revenue Recognition [Line Items] | |
Remaining performance obligation, practical expedient | true |
Maximum | |
Revenue Recognition [Line Items] | |
Revenue remaining performance obligation original excepted duration | 1 year |
Revenue - Schedule of Gross Rec
Revenue - Schedule of Gross Receipts Taxes (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Scheduleof Gross Receipts Taxes [Line Items] | ||||
Gross receipts taxes recorded in regulated gas distribution operating revenues | $ 18.2 | $ 20.4 | $ 87.6 | $ 87.1 |
Spire Missouri | ||||
Scheduleof Gross Receipts Taxes [Line Items] | ||||
Gross receipts taxes recorded in regulated gas distribution operating revenues | 12.5 | 14.5 | 63.1 | 61.3 |
Spire Alabama | ||||
Scheduleof Gross Receipts Taxes [Line Items] | ||||
Gross receipts taxes recorded in regulated gas distribution operating revenues | $ 4.8 | $ 5.2 | $ 20.7 | $ 22.4 |
Earnings Per Common Share - Sch
Earnings Per Common Share - Schedule of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Basic (Loss) Earnings Per Common Share: | ||||
Net (Loss) Income | $ (3) | $ 25.9 | $ 218.9 | $ 240.1 |
Provision for preferred dividends | 1.6 | 1.6 | ||
Income allocated to participating securities | 0.1 | 0.5 | 0.5 | |
Net (Loss) Income Available to Common Shareholders | $ (4.6) | $ 25.8 | $ 216.8 | $ 239.6 |
Weighted Average Common Shares Outstanding (in millions) | 50.7 | 49.6 | 50.6 | 48.7 |
Basic (Loss) Earnings Per Common Share | $ (0.09) | $ 0.52 | $ 4.28 | $ 4.92 |
Diluted (Loss) Earnings Per Common Share: | ||||
Net (Loss) Income | $ (3) | $ 25.9 | $ 218.9 | $ 240.1 |
Provision for preferred dividends | 1.6 | 1.6 | ||
Income allocated to participating securities | 0.1 | 0.5 | 0.5 | |
(Loss) Income Available to Common Shareholders | $ (4.6) | $ 25.8 | $ 216.8 | $ 239.6 |
Weighted Average Common Shares Outstanding (in millions) | 50.7 | 49.6 | 50.6 | 48.7 |
Dilutive Effect of Restricted Stock and Restricted Stock Units (in millions) | 0.2 | 0.1 | 0.2 | 0.1 |
Weighted Average Diluted Common Shares (in millions) | 50.9 | 49.7 | 50.8 | 48.8 |
Diluted (Loss) Earnings Per Common Share | $ (0.09) | $ 0.52 | $ 4.27 | $ 4.91 |
Earnings Per Common Share - S_2
Earnings Per Common Share - Schedule of Basic and Diluted Earnings Per Common Share (Parenthetical) (Details) - shares shares in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Restricted Stock and Restricted Stock Units | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Outstanding common shares excluded from calculation of diluted EPS (in shares) | 0.3 | 0.4 | 0.3 | 0.4 |
Regulatory Matters - Schedule o
Regulatory Matters - Schedule of Regulatory Assets and Liabilities, Reflected in Balance Sheets (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2018 |
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory assets, current | $ 79 | $ 72.8 | $ 96.7 |
Regulatory assets, non current | 657.1 | 669.8 | 695.1 |
Total Regulatory Assets | 736.1 | 742.6 | 791.8 |
Regulatory liabilities, current | 31.3 | 35.7 | 24.5 |
Regulatory liabilities, non current | 396.3 | 354.6 | 364.3 |
Total Regulatory Liabilities | 427.6 | 390.3 | 388.8 |
Spire Missouri | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory assets, current | 30.2 | 30.7 | 55.1 |
Regulatory assets, non current | 429.2 | 441.1 | 473.8 |
Total Regulatory Assets | 459.4 | 471.8 | 528.9 |
Regulatory liabilities, current | 23.4 | 16.7 | 8.7 |
Regulatory liabilities, non current | 310.5 | 274.9 | 281.6 |
Total Regulatory Liabilities | 333.9 | 291.6 | 290.3 |
Spire Alabama | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory assets, current | 33.9 | 26.2 | 26.9 |
Regulatory assets, non current | 199.9 | 201.5 | 193.4 |
Total Regulatory Assets | 233.8 | 227.7 | 220.3 |
Regulatory liabilities, current | 3.4 | 7.6 | 8.8 |
Regulatory liabilities, non current | 29.8 | 31.3 | 33.7 |
Total Regulatory Liabilities | 33.2 | 38.9 | 42.5 |
Pension and Postretirement Benefit Costs | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory assets, current | 30.1 | 30.2 | 43.2 |
Regulatory assets, non current | 335.7 | 364.9 | 369.4 |
Pension and Postretirement Benefit Costs | Spire Missouri | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory assets, current | 21.9 | 21.9 | 34.9 |
Regulatory assets, non current | 269.8 | 292.5 | 297.2 |
Pension and Postretirement Benefit Costs | Spire Alabama | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory assets, current | 7.3 | 7.3 | 7.3 |
Regulatory assets, non current | 59.3 | 64.8 | 64.5 |
Unamortized Purchased Gas Adjustments | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory assets, current | 18.9 | 8.2 | 14.6 |
Unamortized Purchased Gas Adjustments | Spire Missouri | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory assets, current | 0.8 | 1 | 7 |
Unamortized Purchased Gas Adjustments | Spire Alabama | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory assets, current | 17.6 | 6.4 | 7.6 |
Other | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory assets, current | 30 | 34.4 | 38.9 |
Regulatory assets, non current | 45.7 | 42.4 | 37.2 |
Other | Spire Missouri | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory assets, current | 7.5 | 7.8 | 13.2 |
Regulatory assets, non current | 25.5 | 21.4 | 16.4 |
Other | Spire Alabama | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory assets, current | 9 | 12.5 | 12 |
Regulatory assets, non current | 3.2 | 3.3 | 2.7 |
Future Income Taxes Due from Customers | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory assets, non current | 105.7 | 96.3 | 130.5 |
Future Income Taxes Due from Customers | Spire Missouri | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory assets, non current | 101.3 | 94.4 | 128.4 |
Accrued Cost of Removal | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory assets, non current | 137.4 | 133.4 | 126.2 |
Accrued Cost of Removal | Spire Alabama | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory assets, non current | 137.4 | 133.4 | 126.2 |
Energy Efficiency | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory assets, non current | 32.6 | 32.8 | 31.8 |
Energy Efficiency | Spire Missouri | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory assets, non current | 32.6 | 32.8 | 31.8 |
Pension and Postretirement Benefit Costs | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory liabilities, current | 5.8 | 2.2 | 2.2 |
Regulatory liabilities, non current | 119.8 | 27.8 | 30.2 |
Pension and Postretirement Benefit Costs | Spire Missouri | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory liabilities, current | 3.6 | 0 | 0 |
Regulatory liabilities, non current | 84.6 | 0 | 0 |
Pension and Postretirement Benefit Costs | Spire Alabama | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory liabilities, current | 2.3 | 2.2 | 2.2 |
Regulatory liabilities, non current | 25.8 | 27.8 | 30.2 |
Unamortized Purchased Gas Adjustments | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory liabilities, current | 3.3 | 2.9 | 1.1 |
Regulatory liabilities, non current | 47.9 | 4.7 | 37 |
Unamortized Purchased Gas Adjustments | Spire Missouri | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory liabilities, current | 2.5 | 1.9 | 0 |
Regulatory liabilities, non current | 47.9 | 4.7 | 37 |
Other | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory liabilities, current | 22.2 | 30.6 | 21.2 |
Regulatory liabilities, non current | 29.9 | 80.2 | 49.4 |
Other | Spire Missouri | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory liabilities, current | 17.3 | 14.8 | 8.7 |
Regulatory liabilities, non current | 24.1 | 69.3 | 37.8 |
Other | Spire Alabama | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory liabilities, current | 1.1 | 5.4 | 6.6 |
Regulatory liabilities, non current | 4 | 3.5 | 3.5 |
Deferred Taxes Due to Customers | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory liabilities, non current | 152.9 | 178.3 | 182.7 |
Deferred Taxes Due to Customers | Spire Missouri | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory liabilities, non current | 135.5 | 161.1 | 164.6 |
Accrued Cost of Removal | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory liabilities, non current | 45.8 | 63.6 | 65 |
Accrued Cost of Removal | Spire Missouri | |||
Regulatory Asset And Liabilities [Line Items] | |||
Regulatory liabilities, non current | $ 18.4 | $ 39.8 | $ 42.2 |
Regulatory Matters - Schedule_2
Regulatory Matters - Schedule of Regulatory Assets Not Earning a Return (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2018 |
Regulatory Assets [Line Items] | |||
Total Regulatory Assets Not Earning a Return | $ 262.3 | $ 259.8 | $ 306.4 |
Pension and Postretirement Benefit Costs | |||
Regulatory Assets [Line Items] | |||
Total Regulatory Assets Not Earning a Return | 142.1 | 148.4 | 160.5 |
Future Income Taxes Due from Customers | |||
Regulatory Assets [Line Items] | |||
Total Regulatory Assets Not Earning a Return | 105.7 | 96.3 | 130.5 |
Other | |||
Regulatory Assets [Line Items] | |||
Total Regulatory Assets Not Earning a Return | 14.5 | 15.1 | 15.4 |
Spire Missouri | |||
Regulatory Assets [Line Items] | |||
Total Regulatory Assets Not Earning a Return | 257.9 | 257.9 | 304.3 |
Spire Missouri | Pension and Postretirement Benefit Costs | |||
Regulatory Assets [Line Items] | |||
Total Regulatory Assets Not Earning a Return | 142.1 | 148.4 | 160.5 |
Spire Missouri | Future Income Taxes Due from Customers | |||
Regulatory Assets [Line Items] | |||
Total Regulatory Assets Not Earning a Return | 101.3 | 94.4 | 128.4 |
Spire Missouri | Other | |||
Regulatory Assets [Line Items] | |||
Total Regulatory Assets Not Earning a Return | $ 14.5 | $ 15.1 | $ 15.4 |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Details) $ in Millions | Jul. 15, 2019USD ($) | May 03, 2019USD ($) | Jan. 14, 2019USD ($) | Nov. 30, 2018USD ($) | Sep. 28, 2018USD ($) | Apr. 25, 2018USD ($) | Dec. 31, 2018USD ($) | Jan. 31, 2019USD ($) | Jun. 30, 2019USD ($)mi$ / MMBTU | Jul. 09, 2019USD ($) |
Public Utilities, General Disclosures [Line Items] | ||||||||||
Remaining recovery period for certain regulatory assets for which no return on investment during recovery period is provided (in years) | 20 years | |||||||||
Remaining recovery period for regulatory assets for which no return on investment during recovery period is provided (in years) | 15 years | |||||||||
Length of dual 20-inch diameter pipeline | mi | 10.1 | |||||||||
Spire Missouri | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Increase in negotiated rate per day | $ / MMBTU | 2 | |||||||||
Spire Alabama | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Approved rate increase (decrease) amount | $ 0 | |||||||||
Public utilities, requested rate increase (decrease), amount | $ 8.7 | |||||||||
Subsequent Event | Spire Alabama | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Regulatory preferred stock and debt securities issuance, amount authorized | $ 100 | |||||||||
Infrastructure System Replacement Surcharge | Spire Missouri East | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Approved rate increase (decrease) amount | $ 6.4 | $ 2.6 | ||||||||
Applications requests for the approval of revenue related to commission amount | $ 7.4 | |||||||||
Infrastructure System Replacement Surcharge | Spire Missouri West | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Approved rate increase (decrease) amount | $ 6.8 | $ 5.4 | ||||||||
Applications requests for the approval of revenue related to commission amount | $ 7.4 | |||||||||
Infrastructure System Replacement Surcharge | Spire Missouri | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Applications requests for the approval of revenue related to commission amount | $ 3 | |||||||||
Public utilities, requested rate increase (decrease), amount | $ 3.2 | |||||||||
Infrastructure System Replacement Surcharge | Subsequent Event | Spire Missouri | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Applications requests for the approval of revenue related to commission amount | $ 14.4 | |||||||||
Estimate of possible loss in the event does not get a favorable outcome in appeal | $ 11 | |||||||||
Infrastructure System Replacement Surcharge | MoPSC | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Approved rate increase (decrease), costs from buildings sold in 2014 excluded from rate base | $ 1.8 | |||||||||
Rate case expenses | 0.9 | |||||||||
Pension Cost | Infrastructure System Replacement Surcharge | MoPSC | ||||||||||
Public Utilities, General Disclosures [Line Items] | ||||||||||
Regulatory assets recovery | $ 28.8 |
Shareholder's Equity - Addition
Shareholder's Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions | May 21, 2019 | Feb. 06, 2019 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 |
Class Of Stock [Line Items] | ||||||
Preferred stock shares | 10,000,000 | 10,000,000 | ||||
Percentage of preferred stock | 5.90% | |||||
Preferred stock, par value | $ 25 | $ 25 | ||||
Preferred stock, liquidation preference per share | $ 25,000 | |||||
Net proceeds, after deducting commissions and sale expenses | $ 242 | $ 0 | ||||
Preferred stock, redemption date | Aug. 15, 2024 | |||||
Preferred stock voting rights | Shareholders of the Preferred Stock generally have no voting rights with respect to matters that generally require the approval of voting stockholders. The limited voting rights of holders of the Preferred Stock include the right to vote on certain matters that may affect the preference or special rights of the Preferred Stock. In addition, if and whenever dividends on any shares of Preferred Stock have not been declared and paid for at least six dividend periods, whether or not consecutive, the number of directors then constituting Spire’s Board of Directors shall automatically be increased by two (to be elected by the holders of the Preferred Stock) until all accumulated and unpaid dividends on the Preferred Stock have been paid in full. | |||||
Sale of common stock | $ 4.5 | $ 153 | $ 4.5 | 153 | ||
Issuance of common stock | $ 5.7 | $ 154.2 | ||||
ATM Program | ||||||
Class Of Stock [Line Items] | ||||||
Sale of common stock | $ 150 | |||||
Number of shares issued | 59,630 | |||||
Issuance of common stock | $ 4.9 | |||||
Redemption prior to August 15, 2024 | ||||||
Class Of Stock [Line Items] | ||||||
Preferred stock redemption price per share | $ 25,500 | $ 25,500 | ||||
Redemption on or after August 15, 2024 | ||||||
Class Of Stock [Line Items] | ||||||
Preferred stock redemption price per share | $ 25,000 | $ 25,000 | ||||
Depositary Shares | ||||||
Class Of Stock [Line Items] | ||||||
Preferred stock shares | 10,000,000 | |||||
Preferred stock share interest rate | 0.10% | |||||
Preferred stock, par value | $ 25 | |||||
Net proceeds, after deducting commissions and sale expenses | $ 242 |
Financing Arrangements and Lo_3
Financing Arrangements and Long-term Debt - Additional Information (Details) | 1 Months Ended | 9 Months Ended | |||
Dec. 31, 2018USD ($) | Oct. 31, 2018USD ($) | Jun. 30, 2019USD ($) | Jan. 15, 2019USD ($) | Dec. 14, 2016bank | |
Line of Credit Facility [Line Items] | |||||
Line of credit facility borrowing capacity | $ 975,000,000 | ||||
Credit facility borrowings | 0 | ||||
Non-interest-bearing Note | |||||
Line of Credit Facility [Line Items] | |||||
Settlement of debt | $ 10,000,000 | ||||
Term Loan | |||||
Line of Credit Facility [Line Items] | |||||
Long-term Debt | $ 100,000,000 | ||||
Debt instrument, maturity date | Dec. 1, 2021 | ||||
Liabilities | Lender Concentration Risk | |||||
Line of Credit Facility [Line Items] | |||||
Line of credit facility, number of banks in agreement | bank | 11 | ||||
Spire | |||||
Line of Credit Facility [Line Items] | |||||
Line of credit facility borrowing capacity | 300,000,000 | ||||
Short-term borrowings used to support lending to Utilities | 398,000,000 | ||||
Spire Missouri | |||||
Line of Credit Facility [Line Items] | |||||
Line of credit facility borrowing capacity | 475,000,000 | ||||
Spire Alabama | |||||
Line of Credit Facility [Line Items] | |||||
Line of credit facility borrowing capacity | $ 200,000,000 | ||||
Spire Alabama | Senior Notes | Private Placement | Series 2019 A senior notes due 2049 | |||||
Line of Credit Facility [Line Items] | |||||
Long-term debt | $ 90,000,000 | ||||
Stated interest rate | 4.64% | ||||
Line of Credit | |||||
Line of Credit Facility [Line Items] | |||||
Minimum required ratio of earnings before interest, taxes, depreciation, and amortization (EBITDA) times interest expense as required by the line of credit covenant | 70.00% | ||||
Debt to total capitalization ratio | 0.50 | ||||
Line of Credit | Spire Missouri | |||||
Line of Credit Facility [Line Items] | |||||
Debt to total capitalization ratio | 0.47 | ||||
Line of Credit | Spire Alabama | |||||
Line of Credit Facility [Line Items] | |||||
Debt to total capitalization ratio | 0.37 | ||||
Commercial Paper Notes | |||||
Line of Credit Facility [Line Items] | |||||
Long-term debt | $ 975,000,000 | ||||
Debt term | 365 days |
Financing Arrangements and Lo_4
Financing Arrangements and Long-term Debt - Schedule of Spire Missouri and Alabama Short-term Borrowings (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Jun. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2018 | |
Spire Missouri | Borrowings | |||
Short-term Debt [Line Items] | |||
Weighted average borrowings outstanding | $ 288.4 | ||
Weighted average interest rate | 2.80% | ||
Minimum borrowing outstanding | $ 178.4 | ||
Maximum borrowing outstanding | 404.9 | ||
Borrowings outstanding | $ 281.5 | $ 345.3 | $ 128.6 |
Weighted average interest rate | 2.70% | 2.30% | 2.50% |
Spire Alabama | Borrowings | |||
Short-term Debt [Line Items] | |||
Weighted average borrowings outstanding | $ 100 | ||
Weighted average interest rate | 2.80% | ||
Minimum borrowing outstanding | $ 43.8 | ||
Maximum borrowing outstanding | 169.2 | ||
Borrowings outstanding | $ 79.6 | $ 142.5 | $ 69.6 |
Weighted average interest rate | 2.70% | 2.30% | 2.50% |
Spire | Commercial Paper Notes | |||
Short-term Debt [Line Items] | |||
Weighted average borrowings outstanding | $ 557.6 | ||
Weighted average interest rate | 2.80% | ||
Minimum borrowing outstanding | $ 363 | ||
Maximum borrowing outstanding | 689.3 | ||
Borrowings outstanding | $ 434 | $ 553.6 | $ 191 |
Weighted average interest rate | 2.70% | 2.40% | 2.50% |
Financing Arrangements and Lo_5
Financing Arrangements and Long-term Debt - Summary of Net of Capitalized Interest (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Spire | ||||
Line of Credit Facility [Line Items] | ||||
Interest expense, net | $ 2 | $ 0.7 | $ 4.6 | $ 1.7 |
Spire Missouri | ||||
Line of Credit Facility [Line Items] | ||||
Interest expense, net | $ 0.5 | $ 0.3 | $ 1.4 | $ 0.7 |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments - Summary of Financial Instruments Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2018 |
Quoted Prices in Active Markets (Level 1) | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cash and cash equivalents | $ 5.8 | $ 4.4 | $ 6.9 |
Quoted Prices in Active Markets (Level 1) | Spire Missouri | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cash and cash equivalents | 3.7 | 2 | 3.5 |
Significant Observable Inputs (Level 2) | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Notes payable | 434 | 553.6 | 191 |
Long-term debt, including current portion | 2,363.1 | 2,074 | 2,173.7 |
Significant Observable Inputs (Level 2) | Spire Missouri | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Long-term debt, including current portion | 1,027.6 | 906.6 | 1,005 |
Significant Observable Inputs (Level 2) | Spire Missouri | Affiliated Entity | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Notes payable | 281.5 | 345.3 | 128.6 |
Significant Observable Inputs (Level 2) | Spire Alabama | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Long-term debt, including current portion | 450.2 | 321.7 | 317 |
Significant Observable Inputs (Level 2) | Spire Alabama | Affiliated Entity | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Notes payable | 79.6 | 142.5 | 69.6 |
Carrying Amount | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cash and cash equivalents | 5.8 | 4.4 | 6.9 |
Notes payable | 434 | 553.6 | 191 |
Long-term debt, including current portion | 2,207.3 | 2,075.6 | 2,180 |
Carrying Amount | Spire Missouri | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cash and cash equivalents | 3.7 | 2 | 3.5 |
Long-term debt, including current portion | 924.8 | 874.4 | 974.2 |
Carrying Amount | Spire Missouri | Affiliated Entity | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Notes payable | 281.5 | 345.3 | 128.6 |
Carrying Amount | Spire Alabama | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Long-term debt, including current portion | 412.1 | 322.6 | 322.5 |
Carrying Amount | Spire Alabama | Affiliated Entity | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Notes payable | 79.6 | 142.5 | 69.6 |
Fair Value | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cash and cash equivalents | 5.8 | 4.4 | 6.9 |
Notes payable | 434 | 553.6 | 191 |
Long-term debt, including current portion | 2,363.1 | 2,074 | 2,173.7 |
Fair Value | Spire Missouri | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cash and cash equivalents | 3.7 | 2 | 3.5 |
Long-term debt, including current portion | 1,027.6 | 906.6 | 1,005 |
Fair Value | Spire Missouri | Affiliated Entity | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Notes payable | 281.5 | 345.3 | 128.6 |
Fair Value | Spire Alabama | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Long-term debt, including current portion | 450.2 | 321.7 | 317 |
Fair Value | Spire Alabama | Affiliated Entity | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Notes payable | $ 79.6 | $ 142.5 | $ 69.6 |
Fair Value Measurements - Sched
Fair Value Measurements - Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions | Jun. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2018 |
ASSETS | |||
Effects of netting and cash margin receivables/payables | $ (7.9) | $ (8.4) | $ (6.3) |
Derivative asset after the effects of netting | 56.9 | 48.2 | 36.7 |
LIABILITIES | |||
Effects of netting and cash margin receivables/payables | (19.6) | (14.8) | (10.1) |
Derivative liability after the effects of netting | 40.4 | 6.2 | 4.7 |
Spire Missouri | |||
ASSETS | |||
Effects of netting and cash margin receivables/payables | (2.7) | (1.7) | |
Derivative asset after the effects of netting | 20.3 | 23 | |
U.S. stock/bond mutual funds | Spire Missouri | |||
ASSETS | |||
Effects of netting and cash margin receivables/payables | 0 | 0 | 0 |
Derivative asset after the effects of netting | 20.4 | 20.3 | 23 |
NYMEX/ICE natural gas contracts | Spire Missouri | |||
ASSETS | |||
Effects of netting and cash margin receivables/payables | (2.7) | (1.7) | |
Derivative asset after the effects of netting | 0 | 0 | |
LIABILITIES | |||
Effects of netting and cash margin receivables/payables | (11.1) | (1.9) | (0.2) |
Derivative liability after the effects of netting | 0 | 0 | 0 |
Quoted Prices in Active Markets (Level 1) | |||
ASSETS | |||
Derivative asset before effects of netting | 37.8 | 32.1 | 20.8 |
LIABILITIES | |||
Derivative liability before effects of netting | 11.8 | 2.8 | 1.1 |
Quoted Prices in Active Markets (Level 1) | Spire Missouri | |||
ASSETS | |||
Derivative asset before effects of netting | 23 | 20.6 | |
Quoted Prices in Active Markets (Level 1) | U.S. stock/bond mutual funds | Spire Missouri | |||
ASSETS | |||
Derivative asset before effects of netting | 20.4 | 20.3 | 18.9 |
Quoted Prices in Active Markets (Level 1) | NYMEX/ICE natural gas contracts | Spire Missouri | |||
ASSETS | |||
Derivative asset before effects of netting | 2.7 | 1.7 | |
LIABILITIES | |||
Derivative liability before effects of netting | 11.1 | 1.9 | 0.2 |
Significant Observable Inputs (Level 2) | |||
ASSETS | |||
Derivative asset before effects of netting | 27 | 24.5 | 22.2 |
LIABILITIES | |||
Derivative liability before effects of netting | 48 | 18 | 13.7 |
Significant Observable Inputs (Level 2) | Spire Missouri | |||
ASSETS | |||
Derivative asset before effects of netting | 0 | 4.1 | |
Significant Observable Inputs (Level 2) | U.S. stock/bond mutual funds | Spire Missouri | |||
ASSETS | |||
Derivative asset before effects of netting | 0 | 0 | 4.1 |
Significant Observable Inputs (Level 2) | NYMEX/ICE natural gas contracts | Spire Missouri | |||
ASSETS | |||
Derivative asset before effects of netting | 0 | 0 | |
LIABILITIES | |||
Derivative liability before effects of netting | 0 | 0 | 0 |
Significant Unobservable Inputs (Level 3) | |||
ASSETS | |||
Derivative asset before effects of netting | 0 | 0 | 0 |
LIABILITIES | |||
Derivative liability before effects of netting | 0.2 | 0.2 | 0 |
Significant Unobservable Inputs (Level 3) | Spire Missouri | |||
ASSETS | |||
Derivative asset before effects of netting | 0 | 0 | |
Significant Unobservable Inputs (Level 3) | U.S. stock/bond mutual funds | Spire Missouri | |||
ASSETS | |||
Derivative asset before effects of netting | 0 | 0 | 0 |
Significant Unobservable Inputs (Level 3) | NYMEX/ICE natural gas contracts | Spire Missouri | |||
ASSETS | |||
Derivative asset before effects of netting | 0 | 0 | |
LIABILITIES | |||
Derivative liability before effects of netting | 0 | 0 | 0 |
Corporate, Non-Segment | U.S. stock/bond mutual funds | |||
ASSETS | |||
Effects of netting and cash margin receivables/payables | 0 | 0 | |
Derivative asset after the effects of netting | 16.6 | 8.9 | |
Corporate, Non-Segment | Interest rate swaps | |||
ASSETS | |||
Effects of netting and cash margin receivables/payables | 0 | 0 | |
Derivative asset after the effects of netting | 3 | 1.6 | |
LIABILITIES | |||
Effects of netting and cash margin receivables/payables | 0 | ||
Derivative liability after the effects of netting | 27.4 | ||
Corporate, Non-Segment | Quoted Prices in Active Markets (Level 1) | U.S. stock/bond mutual funds | |||
ASSETS | |||
Derivative asset before effects of netting | 16.6 | 8.9 | |
Corporate, Non-Segment | Quoted Prices in Active Markets (Level 1) | Interest rate swaps | |||
ASSETS | |||
Derivative asset before effects of netting | 0 | 0 | |
LIABILITIES | |||
Derivative liability before effects of netting | 0 | ||
Corporate, Non-Segment | Significant Observable Inputs (Level 2) | U.S. stock/bond mutual funds | |||
ASSETS | |||
Derivative asset before effects of netting | 0 | 0 | |
Corporate, Non-Segment | Significant Observable Inputs (Level 2) | Interest rate swaps | |||
ASSETS | |||
Derivative asset before effects of netting | 3 | 1.6 | |
LIABILITIES | |||
Derivative liability before effects of netting | 27.4 | ||
Corporate, Non-Segment | Significant Unobservable Inputs (Level 3) | U.S. stock/bond mutual funds | |||
ASSETS | |||
Derivative asset before effects of netting | 0 | 0 | |
Corporate, Non-Segment | Significant Unobservable Inputs (Level 3) | Interest rate swaps | |||
ASSETS | |||
Derivative asset before effects of netting | 0 | 0 | |
LIABILITIES | |||
Derivative liability before effects of netting | 0 | ||
Gas Utility | Operating Segments | U.S. stock/bond mutual funds | |||
ASSETS | |||
Effects of netting and cash margin receivables/payables | 0 | 0 | 0 |
Derivative asset after the effects of netting | 20.4 | 20.3 | 23 |
Gas Utility | Operating Segments | NYMEX/ICE natural gas contracts | |||
ASSETS | |||
Effects of netting and cash margin receivables/payables | (2.7) | (1.7) | |
Derivative asset after the effects of netting | 0 | 0 | |
LIABILITIES | |||
Effects of netting and cash margin receivables/payables | (11.1) | (1.9) | (0.2) |
Derivative liability after the effects of netting | 0 | 0 | 0 |
Gas Utility | Operating Segments | Quoted Prices in Active Markets (Level 1) | U.S. stock/bond mutual funds | |||
ASSETS | |||
Derivative asset before effects of netting | 20.4 | 20.3 | 18.9 |
Gas Utility | Operating Segments | Quoted Prices in Active Markets (Level 1) | NYMEX/ICE natural gas contracts | |||
ASSETS | |||
Derivative asset before effects of netting | 2.7 | 1.7 | |
LIABILITIES | |||
Derivative liability before effects of netting | 11.1 | 1.9 | 0.2 |
Gas Utility | Operating Segments | Significant Observable Inputs (Level 2) | U.S. stock/bond mutual funds | |||
ASSETS | |||
Derivative asset before effects of netting | 0 | 0 | 4.1 |
Gas Utility | Operating Segments | Significant Observable Inputs (Level 2) | NYMEX/ICE natural gas contracts | |||
ASSETS | |||
Derivative asset before effects of netting | 0 | 0 | |
LIABILITIES | |||
Derivative liability before effects of netting | 0 | 0 | 0 |
Gas Utility | Operating Segments | Significant Unobservable Inputs (Level 3) | U.S. stock/bond mutual funds | |||
ASSETS | |||
Derivative asset before effects of netting | 0 | 0 | 0 |
Gas Utility | Operating Segments | Significant Unobservable Inputs (Level 3) | NYMEX/ICE natural gas contracts | |||
ASSETS | |||
Derivative asset before effects of netting | 0 | 0 | |
LIABILITIES | |||
Derivative liability before effects of netting | 0 | 0 | 0 |
Gas Marketing | Operating Segments | NYMEX/ICE natural gas contracts | |||
ASSETS | |||
Effects of netting and cash margin receivables/payables | (5.5) | (4.2) | (2.6) |
Derivative asset after the effects of netting | 0.3 | 0 | 0 |
LIABILITIES | |||
Effects of netting and cash margin receivables/payables | (6.1) | (11.4) | (7.9) |
Derivative liability after the effects of netting | 0 | 0 | 0 |
Gas Marketing | Operating Segments | Natural gas commodity contracts | |||
ASSETS | |||
Effects of netting and cash margin receivables/payables | (2.4) | (1.5) | (2) |
Derivative asset after the effects of netting | 19.6 | 16 | 12.1 |
LIABILITIES | |||
Effects of netting and cash margin receivables/payables | (2.4) | (1.5) | (2) |
Derivative liability after the effects of netting | 13 | 6.2 | 4.7 |
Gas Marketing | Operating Segments | Quoted Prices in Active Markets (Level 1) | NYMEX/ICE natural gas contracts | |||
ASSETS | |||
Derivative asset before effects of netting | 0.8 | 0.2 | 0.2 |
LIABILITIES | |||
Derivative liability before effects of netting | 0.7 | 0.9 | 0.9 |
Gas Marketing | Operating Segments | Quoted Prices in Active Markets (Level 1) | Natural gas commodity contracts | |||
ASSETS | |||
Derivative asset before effects of netting | 0 | 0 | 0 |
LIABILITIES | |||
Derivative liability before effects of netting | 0 | 0 | 0 |
Gas Marketing | Operating Segments | Significant Observable Inputs (Level 2) | NYMEX/ICE natural gas contracts | |||
ASSETS | |||
Derivative asset before effects of netting | 5 | 4 | 2.4 |
LIABILITIES | |||
Derivative liability before effects of netting | 5.4 | 10.5 | 7 |
Gas Marketing | Operating Segments | Significant Observable Inputs (Level 2) | Natural gas commodity contracts | |||
ASSETS | |||
Derivative asset before effects of netting | 22 | 17.5 | 14.1 |
LIABILITIES | |||
Derivative liability before effects of netting | 15.2 | 7.5 | 6.7 |
Gas Marketing | Operating Segments | Significant Unobservable Inputs (Level 3) | NYMEX/ICE natural gas contracts | |||
ASSETS | |||
Derivative asset before effects of netting | 0 | 0 | 0 |
LIABILITIES | |||
Derivative liability before effects of netting | 0 | 0 | 0 |
Gas Marketing | Operating Segments | Significant Unobservable Inputs (Level 3) | Natural gas commodity contracts | |||
ASSETS | |||
Derivative asset before effects of netting | 0 | 0 | 0 |
LIABILITIES | |||
Derivative liability before effects of netting | $ 0.2 | $ 0.2 | $ 0 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Details) - USD ($) | Jun. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2018 |
Spire Alabama | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Outstanding derivative contracts | $ 0 | $ 0 | $ 0 |
Concentration of Credit Risk -
Concentration of Credit Risk - Additional Information (Details) $ in Millions | 9 Months Ended |
Jun. 30, 2019USD ($)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 |
Number of counterparties with investment-grade rating | counterparty | 4 |
Energy Producers And Their Affiliates | |
Concentration Risk [Line Items] | |
Accounts receivable | $ 12.5 |
Net receivable amount | 5.8 |
Utility Companies And Their Affiliates | |
Concentration Risk [Line Items] | |
Accounts receivable | 99 |
Net receivable amount | 89.3 |
Five Largest Counterparties | |
Concentration Risk [Line Items] | |
Accounts receivable | 48.3 |
Net receivable amount | $ 44.9 |
Pension Plans and Other Postr_3
Pension Plans and Other Postretirement Benefits - Schedule of Net Periodic Cost (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Pension Plans | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Service cost – benefits earned during the period | $ 4.8 | $ 4.8 | $ 14.5 | $ 15.2 |
Interest cost on projected benefit obligation | 7.1 | 6.5 | 21.2 | 20.3 |
Expected return on plan assets | (9.2) | (8.6) | (27.2) | (27.8) |
Amortization of prior service cost (credit) | (0.3) | (0.2) | (0.9) | (0.7) |
Amortization of actuarial (gain) loss | 2.3 | 2.4 | 6.9 | 8.4 |
Loss on lump-sum settlements* | 7.5 | 16.9 | ||
Subtotal | 4.7 | 12.4 | 14.5 | 32.3 |
Regulatory adjustment | 10.1 | 2.1 | 29.8 | 30.4 |
Net pension cost | 14.8 | 14.5 | 44.3 | 62.7 |
Postretirement Plans | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Service cost – benefits earned during the period | 1.8 | 2.3 | 5.5 | 7 |
Interest cost on projected benefit obligation | 2.3 | 2.2 | 6.7 | 6.6 |
Expected return on plan assets | (4.1) | (3.5) | (12.1) | (10.5) |
Amortization of prior service cost (credit) | (0.1) | (0.1) | ||
Amortization of actuarial (gain) loss | (0.1) | 0.2 | (0.4) | 0.6 |
Subtotal | (0.1) | 1.2 | (0.4) | 3.6 |
Regulatory adjustment | 2.5 | 0.7 | 7.5 | 0.8 |
Net pension cost | 2.4 | 1.9 | 7.1 | 4.4 |
Spire Missouri | Pension Plans | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Service cost – benefits earned during the period | 3.2 | 2.9 | 9.4 | 9.4 |
Interest cost on projected benefit obligation | 5 | 4.6 | 14.9 | 14.4 |
Expected return on plan assets | (6.5) | (6.1) | (19.2) | (20.3) |
Amortization of prior service cost (credit) | 0.2 | 0.3 | 0.6 | 0.7 |
Amortization of actuarial (gain) loss | 2.2 | 2 | 6.5 | 7.1 |
Loss on lump-sum settlements* | 5.2 | 14.6 | ||
Subtotal | 4.1 | 8.9 | 12.2 | 25.9 |
Regulatory adjustment | 8 | 2.4 | 23.9 | 26.7 |
Net pension cost | 12.1 | 11.3 | 36.1 | 52.6 |
Spire Missouri | Postretirement Plans | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Service cost – benefits earned during the period | 1.7 | 2.2 | 5.1 | 6.7 |
Interest cost on projected benefit obligation | 1.8 | 1.7 | 5.2 | 5.3 |
Expected return on plan assets | (2.8) | (2.4) | (8.3) | (7.3) |
Amortization of prior service cost (credit) | 0.1 | 0.1 | 0.2 | 0.2 |
Amortization of actuarial (gain) loss | (0.1) | 0.3 | (0.4) | 0.7 |
Subtotal | 0.7 | 1.9 | 1.8 | 5.6 |
Regulatory adjustment | 2.9 | 1.1 | 8.8 | 2.1 |
Net pension cost | 3.6 | 3 | 10.6 | 7.7 |
Spire Alabama | Pension Plans | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Service cost – benefits earned during the period | 1.5 | 1.6 | 4.6 | 4.9 |
Interest cost on projected benefit obligation | 1.5 | 1.3 | 4.5 | 4.1 |
Expected return on plan assets | (1.8) | (1.6) | (5.4) | (5) |
Amortization of prior service cost (credit) | (0.5) | (0.5) | (1.4) | (1.4) |
Amortization of actuarial (gain) loss | 0.2 | 0.4 | 0.6 | 1.3 |
Loss on lump-sum settlements* | 2.3 | 2.3 | ||
Subtotal | 0.9 | 3.5 | 2.9 | 6.2 |
Regulatory adjustment | 1.8 | (0.6) | 5.2 | 3 |
Net pension cost | 2.7 | 2.9 | 8.1 | 9.2 |
Spire Alabama | Postretirement Plans | ||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Service cost – benefits earned during the period | 0.1 | 0.1 | 0.3 | 0.2 |
Interest cost on projected benefit obligation | 0.4 | 0.4 | 1.3 | 1.1 |
Expected return on plan assets | (1.2) | (1.1) | (3.6) | (3.1) |
Amortization of prior service cost (credit) | (0.1) | (0.1) | (0.3) | (0.3) |
Amortization of actuarial (gain) loss | (0.1) | (0.1) | ||
Subtotal | (0.8) | (0.8) | (2.3) | (2.2) |
Regulatory adjustment | (0.4) | (0.5) | (1.3) | (1.4) |
Net pension cost | $ (1.2) | $ (1.3) | $ (3.6) | $ (3.6) |
Pension Plans and Other Postr_4
Pension Plans and Other Postretirement Benefits - Additional Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2019 | Sep. 30, 2017 | |
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Medical insurance available until age is reached after early retirement | 65 years | |||
Pension Plans | ||||
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Settlement benefits paid | $ 34,500,000 | $ 39,500,000 | ||
Settlement loss | 7,500,000 | $ 9,400,000 | ||
Pension Plans | Spire Missouri | ||||
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Settlement benefits paid | 19,600,000 | |||
Settlement loss | $ 5,200,000 | |||
Discount rates | 4.20% | 3.70% | ||
Employer contributions | $ 18,300,000 | |||
Anticipated contributions to pension plans for qualified trust | 8,400,000 | |||
Pension Plans | Spire Alabama | ||||
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Settlement benefits paid | $ 14,900,000 | |||
Settlement loss | $ 2,300,000 | |||
Discount rates | 4.20% | 3.65% | ||
Other Pension Plan | Spire Missouri | ||||
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Discount rates | 4.15% | 3.75% | ||
Postretirement Plans | ||||
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Employer contributions | 0 | |||
Postretirement Plans | Spire Missouri | ||||
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Employer contributions | 0 | |||
Postretirement Plans | Spire Alabama | ||||
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Anticipated contributions to pension plans for qualified trust | $ 0 |
Information by Operating Segm_3
Information by Operating Segment - Additional Information (Details) - 9 months ended Jun. 30, 2019 | reporting_unit | operating-segment |
Segment Reporting [Abstract] | ||
Number of reportable segments | 2 | 2 |
Information by Operating Segm_4
Information by Operating Segment - Schedule of Operating Segment Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Sep. 30, 2018 | |
Operating Segment Information [Abstract] | |||||
Total Operating Revenues | $ 321.3 | $ 350.6 | $ 1,726.8 | $ 1,725.8 | |
Gas Utility | |||||
Natural and propane gas | 75.5 | 107.2 | 664.6 | 731.7 | |
Other operation and maintenance expenses | 111.2 | 99.1 | 323.2 | 333.4 | |
Depreciation and amortization | 45.1 | 40.5 | 133.2 | 121.9 | |
Taxes, other than income taxes | 29.7 | 33.5 | 126.3 | 128.2 | |
Total Gas Utility Operating Expenses | 261.5 | 280.3 | 1,247.3 | 1,315.2 | |
Gas Marketing and other | 46.5 | 11.4 | 151.6 | 97.6 | |
Total Operating Expenses | 308 | 291.7 | 1,398.9 | 1,412.8 | |
Operating Income | 13.3 | 58.9 | 327.9 | 313 | |
Net Economic Earnings (Loss) | 5 | 15.2 | 218.8 | 210.3 | |
Total Assets | 7,332 | 6,584.9 | 7,332 | 6,584.9 | $ 6,843.6 |
Eliminations | |||||
Operating Segment Information [Abstract] | |||||
Total Operating Revenues | (3.2) | (2.9) | (10.7) | (8.6) | |
Gas Utility | |||||
Natural and propane gas | (12.6) | (10.7) | (82) | (52.8) | |
Other operation and maintenance expenses | (2.2) | (2.3) | (7.1) | (6.4) | |
Depreciation and amortization | 0 | 0 | |||
Taxes, other than income taxes | 0 | 0 | |||
Total Gas Utility Operating Expenses | (14.8) | (13) | (89.1) | (59.2) | |
Gas Marketing and other | 11.6 | 10.1 | 78.4 | 50.6 | |
Total Operating Expenses | (3.2) | (2.9) | (10.7) | (8.6) | |
Operating Income | 0 | 0 | |||
Net Economic Earnings (Loss) | 0 | 0 | |||
Total Assets | (1,267.8) | (1,231) | (1,267.8) | (1,231) | (1,566.4) |
Gas Utility | |||||
Operating Segment Information [Abstract] | |||||
Total Operating Revenues | 301.4 | 334.8 | 1,651.9 | 1,667.3 | |
Gas Utility | Eliminations | |||||
Operating Segment Information [Abstract] | |||||
Total Operating Revenues | 0.2 | 0 | 1.7 | 0.3 | |
Gas Utility | Operating Segments | |||||
Operating Segment Information [Abstract] | |||||
Total Operating Revenues | 301.6 | 334.8 | 1,653.6 | 1,667.6 | |
Gas Utility | |||||
Natural and propane gas | 88.1 | 117.9 | 746.6 | 784.5 | |
Other operation and maintenance expenses | 113.4 | 101.4 | 330.3 | 339.8 | |
Depreciation and amortization | 45.1 | 40.5 | 133.2 | 121.9 | |
Taxes, other than income taxes | 29.7 | 33.5 | 126.3 | 128.2 | |
Total Gas Utility Operating Expenses | 276.3 | 293.3 | 1,336.4 | 1,374.4 | |
Gas Marketing and other | 0 | 0 | |||
Total Operating Expenses | 276.3 | 293.3 | 1,336.4 | 1,374.4 | |
Operating Income | 25.3 | 41.5 | 317.2 | 293.2 | |
Net Economic Earnings (Loss) | 7.6 | 16.9 | 220.7 | 208.1 | |
Total Assets | 5,830.1 | 5,445.5 | 5,830.1 | 5,445.5 | 5,606.7 |
Gas Marketing | |||||
Operating Segment Information [Abstract] | |||||
Total Operating Revenues | 18.4 | 14.4 | 69.6 | 55.3 | |
Gas Marketing | Eliminations | |||||
Operating Segment Information [Abstract] | |||||
Total Operating Revenues | (0.1) | 0 | |||
Gas Marketing | Operating Segments | |||||
Operating Segment Information [Abstract] | |||||
Total Operating Revenues | 18.3 | 14.4 | 69.6 | 55.3 | |
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 | 25.3 | (7.2) | 47.3 | 27.6 | |
Total Operating Expenses | 25.3 | (7.2) | 47.3 | 27.6 | |
Operating Income | (7) | 21.6 | 22.3 | 27.7 | |
Net Economic Earnings (Loss) | 3.3 | 4.4 | 17.8 | 18.2 | |
Total Assets | 232.3 | 234.5 | 232.3 | 234.5 | 295.3 |
Corporate, Non-Segment | |||||
Operating Segment Information [Abstract] | |||||
Total Operating Revenues | 1.5 | 1.4 | 5.3 | 3.2 | |
Corporate, Non-Segment | Eliminations | |||||
Operating Segment Information [Abstract] | |||||
Total Operating Revenues | 3.1 | 2.9 | 9 | 8.3 | |
Corporate, Non-Segment | Operating Segments | |||||
Operating Segment Information [Abstract] | |||||
Total Operating Revenues | 4.6 | 4.3 | 14.3 | 11.5 | |
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 | 9.6 | 8.5 | 25.9 | 19.4 | |
Total Operating Expenses | 9.6 | 8.5 | 25.9 | 19.4 | |
Operating Income | (5) | (4.2) | (11.6) | (7.9) | |
Net Economic Earnings (Loss) | (5.9) | (6.1) | (19.7) | (16) | |
Total Assets | $ 2,537.4 | $ 2,135.9 | $ 2,537.4 | $ 2,135.9 | $ 2,508 |
Information by Operating Segm_5
Information by Operating Segment - Reconciliation of Consolidated Net Economic Earnings to Consolidated Net Income (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Segment Reporting [Abstract] | ||||
Net (Loss) Income | $ (3) | $ 25.9 | $ 218.9 | $ 240.1 |
Missouri regulatory adjustments | 0 | 0 | 0 | 30.6 |
Unrealized loss (gain) on energy-related derivatives | 8 | (16) | (3.3) | (3.4) |
Realized gain on economic hedges prior to the sale of the physical commodity | 0 | 0 | 0 | (0.3) |
Lower of cost or market inventory adjustments | 2.7 | 0 | 2.7 | 0 |
Acquisition, divestiture and restructuring activities | 0 | 3.3 | 0.4 | 7 |
Income tax effect of adjustments | (2.7) | 2 | 0.1 | (9.7) |
Effect of the Tax Cuts and Jobs Act | 0 | 0 | 0 | (54) |
Net Economic Earnings | $ 5 | $ 15.2 | $ 218.8 | $ 210.3 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information - Commitments (Details) $ in Millions | 9 Months Ended |
Jun. 30, 2019USD ($) | |
Long-term Purchase Commitment [Line Items] | |
Minimum total payments required for natural gas contracts | $ 1,541.9 |
Spire Missouri | |
Long-term Purchase Commitment [Line Items] | |
Minimum total payments required for natural gas contracts | 611.8 |
Spire Alabama | |
Long-term Purchase Commitment [Line Items] | |
Minimum total payments required for natural gas contracts | $ 342.9 |
Commitments and Contingencies_2
Commitments and Contingencies - Additional Information - Contingencies (Details) | Dec. 17, 2013fatality | Jun. 30, 2019sitelawsuitplaintiff | Sep. 30, 2013site |
Site Contingency [Line Items] | |||
Number of lawsuits | lawsuit | 14 | ||
Number of plaintiffs | plaintiff | 1,600 | ||
Pending Litigation | |||
Site Contingency [Line Items] | |||
Number of lawsuits pending | plaintiff | 13 | ||
Spire Missouri East | |||
Site Contingency [Line Items] | |||
Number of former manufactured gas plant (MGP) sites in Missouri | 3 | ||
Number of sites enrolled in Brownfields/Voluntary clean up program | 2 | ||
Spire Missouri East | Previous Ownership | |||
Site Contingency [Line Items] | |||
Number of former manufactured gas plant (MGP) | 19 | ||
Spire Missouri West | Previous Ownership | |||
Site Contingency [Line Items] | |||
Number of former manufactured gas plant (MGP) | 7 | ||
Spire Alabama | |||
Site Contingency [Line Items] | |||
Number of former manufactured gas plant (MGP) | 9 | ||
Number of former manufactured gas distribution | 5 | ||
Number of incident fatalities | fatality | 1 | ||
Spire Alabama | Current Ownership | |||
Site Contingency [Line Items] | |||
Number of former manufactured gas plant (MGP) | 4 | ||
Number of former manufactured gas distribution | 1 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended |
Jun. 30, 2019 | Jun. 30, 2019 | |
Spire Missouri | ||
Income Taxes [Line Items] | ||
Excess accumulated deferred taxes returned | $ 2.1 | $ 6.3 |