10-Q 1 spre20221231_10q.htm FORM 10-Q spre20221231_10q.htm
0001126956 false --09-30 Q1 2023 false 0000057183 false --09-30 Q1 2023 false 0000003146 false --09-30 Q1 2023 false 55.6 50.7 36.7 25.00 25.00 25.00 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 1.00 1.00 1.00 70.0 70.0 70.0 52.5 52.5 52.5 52.5 51.7 51.7 0.72 0.36875 0.65 0.36875 1.00 1.00 1.00 50.0 50.0 50.0 25,325 25,325 25,325 25,325 24,577 24,577 0.01 0.01 0.01 3.0 3.0 3.0 2.0 2.0 2.0 2.0 2.0 2.0 8 8 8 8 0 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 Accumulated other comprehensive income (loss) 0001126956sr:SpireMissouriMember2023-01-27 0001126956sr:SpireAlabamaIncMember2023-01-27 00011269562022-10-012022-12-31 0001126956us-gaap:CommonStockMember2022-10-012022-12-31 0001126956sr:DepositarySharesMember2022-10-012022-12-31 xbrli:shares 00011269562023-01-27 thunderdome:item iso4217:USD 00011269562022-07-012022-09-30 00011269562021-07-012021-09-30 iso4217:USDxbrli:shares 00011269562021-10-012021-12-31 00011269562022-12-31 00011269562022-09-30 00011269562021-12-31 0001126956sr:DepositarySharesMember2022-12-31 0001126956sr:DepositarySharesMember2022-09-30 0001126956sr:DepositarySharesMember2021-12-31 0001126956us-gaap:CommonStockMember2022-09-30 0001126956us-gaap:PreferredStockMember2022-09-30 0001126956us-gaap:AdditionalPaidInCapitalMember2022-09-30 0001126956us-gaap:RetainedEarningsMember2022-09-30 0001126956us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-09-30 0001126956us-gaap:CommonStockMember2022-10-012022-12-31 0001126956us-gaap:AdditionalPaidInCapitalMember2022-10-012022-12-31 0001126956us-gaap:RetainedEarningsMember2022-10-012022-12-31 0001126956us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-10-012022-12-31 0001126956us-gaap:PreferredStockMember2022-10-012022-12-31 0001126956us-gaap:CommonStockMember2022-12-31 0001126956us-gaap:PreferredStockMember2022-12-31 0001126956us-gaap:AdditionalPaidInCapitalMember2022-12-31 0001126956us-gaap:RetainedEarningsMember2022-12-31 0001126956us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-31 0001126956us-gaap:CommonStockMember2021-09-30 0001126956us-gaap:PreferredStockMember2021-09-30 0001126956us-gaap:AdditionalPaidInCapitalMember2021-09-30 0001126956us-gaap:RetainedEarningsMember2021-09-30 0001126956us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-09-30 00011269562021-09-30 0001126956us-gaap:CommonStockMember2021-10-012021-12-31 0001126956us-gaap:PreferredStockMember2021-10-012021-12-31 0001126956us-gaap:AdditionalPaidInCapitalMember2021-10-012021-12-31 0001126956us-gaap:RetainedEarningsMember2021-10-012021-12-31 0001126956us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-10-012021-12-31 0001126956us-gaap:CommonStockMember2021-12-31 0001126956us-gaap:PreferredStockMember2021-12-31 0001126956us-gaap:AdditionalPaidInCapitalMember2021-12-31 0001126956us-gaap:RetainedEarningsMember2021-12-31 0001126956us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-31 0001126956sr:SpireMissouriMember2022-10-012022-12-31 0001126956sr:SpireMissouriMember2021-10-012021-12-31 0001126956sr:SpireMissouriMember2022-12-31 0001126956sr:SpireMissouriMember2022-09-30 0001126956sr:SpireMissouriMember2021-12-31 0001126956sr:SpireMissouriMemberus-gaap:CommonStockMember2022-09-30 0001126956sr:SpireMissouriMemberus-gaap:AdditionalPaidInCapitalMember2022-09-30 0001126956sr:SpireMissouriMemberus-gaap:RetainedEarningsMember2022-09-30 0001126956sr:SpireMissouriMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-09-30 0001126956sr:SpireMissouriMemberus-gaap:CommonStockMember2022-10-012022-12-31 0001126956sr:SpireMissouriMemberus-gaap:AdditionalPaidInCapitalMember2022-10-012022-12-31 0001126956sr:SpireMissouriMemberus-gaap:RetainedEarningsMember2022-10-012022-12-31 0001126956sr:SpireMissouriMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-10-012022-12-31 0001126956sr:SpireMissouriMemberus-gaap:CommonStockMember2022-12-31 0001126956sr:SpireMissouriMemberus-gaap:AdditionalPaidInCapitalMember2022-12-31 0001126956sr:SpireMissouriMemberus-gaap:RetainedEarningsMember2022-12-31 0001126956sr:SpireMissouriMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-31 0001126956sr:SpireMissouriMemberus-gaap:CommonStockMember2021-09-30 0001126956sr:SpireMissouriMemberus-gaap:AdditionalPaidInCapitalMember2021-09-30 0001126956sr:SpireMissouriMemberus-gaap:RetainedEarningsMember2021-09-30 0001126956sr:SpireMissouriMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2021-09-30 0001126956sr:SpireMissouriMember2021-09-30 0001126956sr:SpireMissouriMemberus-gaap:CommonStockMember2021-10-012021-12-31 0001126956sr:SpireMissouriMemberus-gaap:AdditionalPaidInCapitalMember2021-10-012021-12-31 0001126956sr:SpireMissouriMemberus-gaap:RetainedEarningsMember2021-10-012021-12-31 0001126956sr:SpireMissouriMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2021-10-012021-12-31 0001126956sr:SpireMissouriMemberus-gaap:CommonStockMember2021-12-31 0001126956sr:SpireMissouriMemberus-gaap:AdditionalPaidInCapitalMember2021-12-31 0001126956sr:SpireMissouriMemberus-gaap:RetainedEarningsMember2021-12-31 0001126956sr:SpireMissouriMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-31 0001126956sr:SpireAlabamaIncMember2022-10-012022-12-31 0001126956sr:SpireAlabamaIncMember2021-10-012021-12-31 0001126956sr:SpireAlabamaIncMember2022-12-31 0001126956sr:SpireAlabamaIncMember2022-09-30 0001126956sr:SpireAlabamaIncMember2021-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:CommonStockMember2022-09-30 0001126956sr:SpireAlabamaIncMemberus-gaap:AdditionalPaidInCapitalMember2022-09-30 0001126956sr:SpireAlabamaIncMemberus-gaap:RetainedEarningsMember2022-09-30 0001126956sr:SpireAlabamaIncMemberus-gaap:CommonStockMember2022-10-012022-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:AdditionalPaidInCapitalMember2022-10-012022-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:RetainedEarningsMember2022-10-012022-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:CommonStockMember2022-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:AdditionalPaidInCapitalMember2022-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:RetainedEarningsMember2022-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:CommonStockMember2021-09-30 0001126956sr:SpireAlabamaIncMemberus-gaap:AdditionalPaidInCapitalMember2021-09-30 0001126956sr:SpireAlabamaIncMemberus-gaap:RetainedEarningsMember2021-09-30 0001126956sr:SpireAlabamaIncMember2021-09-30 0001126956sr:SpireAlabamaIncMemberus-gaap:CommonStockMember2021-10-012021-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:AdditionalPaidInCapitalMember2021-10-012021-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:RetainedEarningsMember2021-10-012021-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:CommonStockMember2021-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:AdditionalPaidInCapitalMember2021-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:RetainedEarningsMember2021-12-31 0001126956sr:SpireMissouriMembersr:SpireMarketingIncorporationMember2022-10-012022-12-31 0001126956sr:SpireMissouriMembersr:SpireMarketingIncorporationMember2021-10-012021-12-31 0001126956sr:SpireMissouriMembersr:SpireSTLPipelineLLCMember2022-10-012022-12-31 0001126956sr:SpireMissouriMembersr:SpireSTLPipelineLLCMember2021-10-012021-12-31 0001126956sr:SpireAlabamaIncMembersr:SpireMarketingIncorporationMember2022-10-012022-12-31 0001126956sr:SpireAlabamaIncMembersr:SpireMarketingIncorporationMember2021-10-012021-12-31 00011269562021-10-012022-09-30 0001126956sr:SpireMissouriMember2021-10-012022-09-30 0001126956sr:SpireAlabamaIncMember2021-10-012022-09-30 0001126956us-gaap:OperatingSegmentsMembersr:SpireMembersr:ResidentialMembersr:GasUtilityMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMembersr:ResidentialMembersr:GasUtilityMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMembersr:CommercialAndIndustrialMembersr:GasUtilityMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMembersr:CommercialAndIndustrialMembersr:GasUtilityMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMembersr:TransportationMembersr:GasUtilityMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMembersr:TransportationMembersr:GasUtilityMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMembersr:OffsystemAndOtherInventiveMembersr:GasUtilityMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMembersr:OffsystemAndOtherInventiveMembersr:GasUtilityMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMembersr:OtherCustomerRevenueMembersr:GasUtilityMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMembersr:OtherCustomerRevenueMembersr:GasUtilityMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMembersr:GasUtilityMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMembersr:GasUtilityMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMembersr:GasMarketingMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMembersr:GasMarketingMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMembersr:MidstreamMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMembersr:MidstreamMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMemberus-gaap:AllOtherSegmentsMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMemberus-gaap:AllOtherSegmentsMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMember2021-10-012021-12-31 0001126956srt:ConsolidationEliminationsMembersr:SpireMember2022-10-012022-12-31 0001126956us-gaap:MaterialReconcilingItemsMembersr:SpireMember2021-10-012021-12-31 0001126956sr:SpireMember2022-10-012022-12-31 0001126956sr:SpireMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMissouriMembersr:ResidentialMembersr:GasUtilityMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMissouriMembersr:ResidentialMembersr:GasUtilityMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMissouriMembersr:CommercialAndIndustrialMembersr:GasUtilityMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMissouriMembersr:CommercialAndIndustrialMembersr:GasUtilityMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMissouriMembersr:TransportationMembersr:GasUtilityMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMissouriMembersr:TransportationMembersr:GasUtilityMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMissouriMembersr:OffsystemAndOtherInventiveMembersr:GasUtilityMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMissouriMembersr:OffsystemAndOtherInventiveMembersr:GasUtilityMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMissouriMembersr:OtherCustomerRevenueMembersr:GasUtilityMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMissouriMembersr:OtherCustomerRevenueMembersr:GasUtilityMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMissouriMembersr:GasUtilityMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireMissouriMembersr:GasUtilityMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireAlabamaIncMembersr:ResidentialMembersr:GasUtilityMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireAlabamaIncMembersr:ResidentialMembersr:GasUtilityMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireAlabamaIncMembersr:CommercialAndIndustrialMembersr:GasUtilityMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireAlabamaIncMembersr:CommercialAndIndustrialMembersr:GasUtilityMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireAlabamaIncMembersr:TransportationMembersr:GasUtilityMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireAlabamaIncMembersr:TransportationMembersr:GasUtilityMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireAlabamaIncMembersr:OffsystemAndOtherInventiveMembersr:GasUtilityMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireAlabamaIncMembersr:OffsystemAndOtherInventiveMembersr:GasUtilityMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireAlabamaIncMembersr:OtherCustomerRevenueMembersr:GasUtilityMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireAlabamaIncMembersr:OtherCustomerRevenueMembersr:GasUtilityMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireAlabamaIncMembersr:GasUtilityMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:SpireAlabamaIncMembersr:GasUtilityMember2021-10-012021-12-31 0001126956sr:UnamortizedPurchasedGasAdjustmentsAssetMember2022-12-31 0001126956sr:UnamortizedPurchasedGasAdjustmentsAssetMember2022-09-30 0001126956sr:UnamortizedPurchasedGasAdjustmentsAssetMember2021-12-31 0001126956us-gaap:OtherRegulatoryAssetsLiabilitiesMember2022-12-31 0001126956us-gaap:OtherRegulatoryAssetsLiabilitiesMember2022-09-30 0001126956us-gaap:OtherRegulatoryAssetsLiabilitiesMember2021-12-31 0001126956us-gaap:PensionAndOtherPostretirementPlansCostsMember2022-12-31 0001126956us-gaap:PensionAndOtherPostretirementPlansCostsMember2022-09-30 0001126956us-gaap:PensionAndOtherPostretirementPlansCostsMember2021-12-31 0001126956us-gaap:RemovalCostsMember2022-12-31 0001126956us-gaap:RemovalCostsMember2022-09-30 0001126956us-gaap:RemovalCostsMember2021-12-31 0001126956us-gaap:DeferredIncomeTaxChargesMember2022-12-31 0001126956us-gaap:DeferredIncomeTaxChargesMember2022-09-30 0001126956us-gaap:DeferredIncomeTaxChargesMember2021-12-31 0001126956us-gaap:RenewableEnergyProgramMember2022-12-31 0001126956us-gaap:RenewableEnergyProgramMember2022-09-30 0001126956us-gaap:RenewableEnergyProgramMember2021-12-31 0001126956sr:EstimatedDeferredTaxesDueToCustomersMember2022-12-31 0001126956sr:EstimatedDeferredTaxesDueToCustomersMember2022-09-30 0001126956sr:EstimatedDeferredTaxesDueToCustomersMember2021-12-31 0001126956sr:SpireMissouriMembersr:UnamortizedPurchasedGasAdjustmentsAssetMember2022-12-31 0001126956sr:SpireMissouriMembersr:UnamortizedPurchasedGasAdjustmentsAssetMember2022-09-30 0001126956sr:SpireMissouriMembersr:UnamortizedPurchasedGasAdjustmentsAssetMember2021-12-31 0001126956sr:SpireMissouriMemberus-gaap:OtherRegulatoryAssetsLiabilitiesMember2022-12-31 0001126956sr:SpireMissouriMemberus-gaap:OtherRegulatoryAssetsLiabilitiesMember2022-09-30 0001126956sr:SpireMissouriMemberus-gaap:OtherRegulatoryAssetsLiabilitiesMember2021-12-31 0001126956sr:SpireMissouriMemberus-gaap:DeferredIncomeTaxChargesMember2022-12-31 0001126956sr:SpireMissouriMemberus-gaap:DeferredIncomeTaxChargesMember2022-09-30 0001126956sr:SpireMissouriMemberus-gaap:DeferredIncomeTaxChargesMember2021-12-31 0001126956sr:SpireMissouriMemberus-gaap:PensionAndOtherPostretirementPlansCostsMember2022-12-31 0001126956sr:SpireMissouriMemberus-gaap:PensionAndOtherPostretirementPlansCostsMember2022-09-30 0001126956sr:SpireMissouriMemberus-gaap:PensionAndOtherPostretirementPlansCostsMember2021-12-31 0001126956sr:SpireMissouriMemberus-gaap:RenewableEnergyProgramMember2022-12-31 0001126956sr:SpireMissouriMemberus-gaap:RenewableEnergyProgramMember2022-09-30 0001126956sr:SpireMissouriMemberus-gaap:RenewableEnergyProgramMember2021-12-31 0001126956sr:SpireMissouriMemberus-gaap:RemovalCostsMember2022-12-31 0001126956sr:SpireMissouriMemberus-gaap:RemovalCostsMember2022-09-30 0001126956sr:SpireMissouriMemberus-gaap:RemovalCostsMember2021-12-31 0001126956sr:SpireMissouriMembersr:EstimatedDeferredTaxesDueToCustomersMember2022-12-31 0001126956sr:SpireMissouriMembersr:EstimatedDeferredTaxesDueToCustomersMember2022-09-30 0001126956sr:SpireMissouriMembersr:EstimatedDeferredTaxesDueToCustomersMember2021-12-31 0001126956sr:SpireAlabamaIncMembersr:UnamortizedPurchasedGasAdjustmentsAssetMember2022-12-31 0001126956sr:SpireAlabamaIncMembersr:UnamortizedPurchasedGasAdjustmentsAssetMember2022-09-30 0001126956sr:SpireAlabamaIncMembersr:UnamortizedPurchasedGasAdjustmentsAssetMember2021-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:OtherRegulatoryAssetsLiabilitiesMember2022-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:OtherRegulatoryAssetsLiabilitiesMember2022-09-30 0001126956sr:SpireAlabamaIncMemberus-gaap:OtherRegulatoryAssetsLiabilitiesMember2021-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:DeferredIncomeTaxChargesMember2022-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:DeferredIncomeTaxChargesMember2022-09-30 0001126956sr:SpireAlabamaIncMemberus-gaap:DeferredIncomeTaxChargesMember2021-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:PensionAndOtherPostretirementPlansCostsMember2022-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:PensionAndOtherPostretirementPlansCostsMember2022-09-30 0001126956sr:SpireAlabamaIncMemberus-gaap:PensionAndOtherPostretirementPlansCostsMember2021-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:RemovalCostsMember2022-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:RemovalCostsMember2022-09-30 0001126956sr:SpireAlabamaIncMemberus-gaap:RemovalCostsMember2021-12-31 utr:Y 0001126956sr:FutureIncomeTaxesDueFromCustomersAndPensionAndOtherPostretirementBenefitCostsMember2022-10-012022-12-31 0001126956sr:PgaAssetsNotEarningAReturnMember2022-10-012022-12-31 0001126956sr:SpireMissouriMember2021-02-012021-02-28 0001126956sr:SpireMissouriMember2022-01-012022-03-31 0001126956sr:SpireMissouriMember2022-03-31 0001126956sr:SpireMissouriMembersr:MissouriPublicServiceCommissionMember2021-12-232021-12-23 0001126956sr:InfrastructureSystemReplacementSurchargeMembersr:MissouriPublicServiceCommissionMember2021-12-232021-12-23 0001126956sr:SpireMissouriMembersr:MissouriPublicServiceCommissionMember2022-09-30 0001126956sr:SpireMissouriMembersr:MissouriPublicServiceCommissionMember2022-11-182022-11-18 0001126956sr:SpireMissouriMembersr:MissouriPublicServiceCommissionMember2022-12-272022-12-27 0001126956sr:SpireMissouriMembersr:MissouriPublicServiceCommissionMemberus-gaap:SubsequentEventMember2023-01-25 xbrli:pure 0001126956sr:SpireGulfMember2022-10-012022-10-31 0001126956sr:SpireMississippiMember2022-09-142022-09-14 0001126956sr:SpireMississippiMemberus-gaap:SubsequentEventMember2023-01-182023-01-18 0001126956us-gaap:RevolvingCreditFacilityMember2022-07-22 0001126956us-gaap:RevolvingCreditFacilityMembersr:SpireMember2022-07-22 0001126956us-gaap:RevolvingCreditFacilityMembersr:SpireMissouriMember2022-07-22 0001126956us-gaap:RevolvingCreditFacilityMembersr:SpireAlabamaIncMember2022-07-22 0001126956us-gaap:RevolvingCreditFacilityMembersrt:MaximumMember2022-12-31 0001126956sr:SpireMissouriMembersr:UnsecuredTermLoanMemberus-gaap:LondonInterbankOfferedRateLIBORMember2022-12-31 0001126956us-gaap:RevolvingCreditFacilityMember2022-12-31 0001126956us-gaap:CommercialPaperMember2022-07-22 0001126956sr:SpireMissouriMembersr:UnsecuredTermLoanMember2021-03-31 utr:D 0001126956sr:SpireMissouriMembersr:UnsecuredTermLoanMember2021-03-012021-03-31 0001126956sr:SpireMissouriMembersr:UnsecuredTermLoanMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-03-012021-03-31 0001126956sr:SpireMissouriMembersr:UnsecuredTermLoanMemberus-gaap:SubsequentEventMember2023-01-05 0001126956sr:SpireMissouriMembersr:UnsecuredTermLoanMemberus-gaap:SubsequentEventMemberus-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember2023-01-052023-01-05 0001126956srt:ParentCompanyMemberus-gaap:CommercialPaperMember2022-12-31 0001126956srt:ParentCompanyMemberus-gaap:CommercialPaperMember2022-10-012022-12-31 0001126956sr:TermLoanMembersr:SpireMissouriMember2022-10-012022-12-31 0001126956sr:SpireNoteMembersr:SpireMissouriMember2022-10-012022-12-31 0001126956sr:SpireNoteMembersr:SpireAlabamaIncMember2022-10-012022-12-31 0001126956sr:TermLoanMembersr:SpireMissouriMember2022-12-31 0001126956sr:SpireNoteMembersr:SpireMissouriMember2022-12-31 0001126956sr:SpireNoteMembersr:SpireAlabamaIncMember2022-12-31 0001126956srt:ParentCompanyMemberus-gaap:CommercialPaperMember2022-09-30 0001126956sr:TermLoanMembersr:SpireMissouriMember2022-09-30 0001126956sr:SpireNoteMembersr:SpireMissouriMember2022-09-30 0001126956sr:SpireNoteMembersr:SpireAlabamaIncMember2022-09-30 0001126956srt:ParentCompanyMemberus-gaap:CommercialPaperMember2021-12-31 0001126956sr:TermLoanMembersr:SpireMissouriMember2021-12-31 0001126956sr:SpireNoteMembersr:SpireMissouriMember2021-12-31 0001126956sr:SpireNoteMembersr:SpireAlabamaIncMember2021-12-31 0001126956sr:NotesDueOctober152029Membersr:SpireGulfMember2022-10-13 0001126956sr:NotesDueOctober152032Membersr:SpireGulfMember2022-10-13 0001126956sr:FirstMortgageBondsDueOctober152037Membersr:SpireGulfMember2022-10-13 0001126956us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-31 0001126956us-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-31 0001126956us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-31 0001126956us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-31 0001126956us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-09-30 0001126956us-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-30 0001126956us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-30 0001126956us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-09-30 0001126956us-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-31 0001126956us-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-31 0001126956us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-31 0001126956us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-31 0001126956us-gaap:CarryingReportedAmountFairValueDisclosureMembersr:SpireMissouriMember2022-12-31 0001126956us-gaap:EstimateOfFairValueFairValueDisclosureMembersr:SpireMissouriMember2022-12-31 0001126956us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMembersr:SpireMissouriMember2022-12-31 0001126956us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMembersr:SpireMissouriMember2022-12-31 0001126956us-gaap:CarryingReportedAmountFairValueDisclosureMembersr:SpireMissouriMember2022-09-30 0001126956us-gaap:EstimateOfFairValueFairValueDisclosureMembersr:SpireMissouriMember2022-09-30 0001126956us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMembersr:SpireMissouriMember2022-09-30 0001126956us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMembersr:SpireMissouriMember2022-09-30 0001126956us-gaap:CarryingReportedAmountFairValueDisclosureMembersr:SpireMissouriMember2021-12-31 0001126956us-gaap:EstimateOfFairValueFairValueDisclosureMembersr:SpireMissouriMember2021-12-31 0001126956us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMembersr:SpireMissouriMember2021-12-31 0001126956us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMembersr:SpireMissouriMember2021-12-31 0001126956us-gaap:CarryingReportedAmountFairValueDisclosureMembersr:SpireAlabamaIncMember2022-12-31 0001126956us-gaap:EstimateOfFairValueFairValueDisclosureMembersr:SpireAlabamaIncMember2022-12-31 0001126956us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMembersr:SpireAlabamaIncMember2022-12-31 0001126956us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMembersr:SpireAlabamaIncMember2022-12-31 0001126956us-gaap:CarryingReportedAmountFairValueDisclosureMembersr:SpireAlabamaIncMember2022-09-30 0001126956us-gaap:EstimateOfFairValueFairValueDisclosureMembersr:SpireAlabamaIncMember2022-09-30 0001126956us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMembersr:SpireAlabamaIncMember2022-09-30 0001126956us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMembersr:SpireAlabamaIncMember2022-09-30 0001126956us-gaap:CarryingReportedAmountFairValueDisclosureMembersr:SpireAlabamaIncMember2021-12-31 0001126956us-gaap:EstimateOfFairValueFairValueDisclosureMembersr:SpireAlabamaIncMember2021-12-31 0001126956us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMembersr:SpireAlabamaIncMember2021-12-31 0001126956us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMembersr:SpireAlabamaIncMember2021-12-31 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasUtilityMember2022-12-31 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasUtilityMember2022-12-31 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueMeasurementsRecurringMembersr:GasUtilityMember2022-12-31 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasUtilityMember2022-12-31 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasUtilityMember2022-12-31 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueMeasurementsRecurringMembersr:GasUtilityMember2022-12-31 0001126956srt:ParentCompanyMemberus-gaap:CommercialPaperMembersr:GasolineAndHeatingOilContractsMember2022-12-31 0001126956srt:ParentCompanyMembersr:TermLoanMembersr:GasolineAndHeatingOilContractsMember2022-12-31 0001126956sr:TermLoanMembersr:SpireMissouriMembersr:GasolineAndHeatingOilContractsMember2022-12-31 0001126956sr:SpireNoteMembersr:SpireMissouriMembersr:GasolineAndHeatingOilContractsMember2022-12-31 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasMarketingMember2022-12-31 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasMarketingMember2022-12-31 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueMeasurementsRecurringMembersr:GasMarketingMember2022-12-31 0001126956sr:NaturalGasCommodityContractsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasMarketingMember2022-12-31 0001126956sr:NaturalGasCommodityContractsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasMarketingMember2022-12-31 0001126956sr:NaturalGasCommodityContractsMemberus-gaap:FairValueMeasurementsRecurringMembersr:GasMarketingMember2022-12-31 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AllOtherSegmentsMember2022-12-31 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AllOtherSegmentsMember2022-12-31 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AllOtherSegmentsMember2022-12-31 0001126956us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AllOtherSegmentsMember2022-12-31 0001126956us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AllOtherSegmentsMember2022-12-31 0001126956us-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AllOtherSegmentsMember2022-12-31 0001126956us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-31 0001126956us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-31 0001126956us-gaap:FairValueMeasurementsRecurringMember2022-12-31 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasUtilityMember2022-09-30 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasUtilityMember2022-09-30 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueMeasurementsRecurringMembersr:GasUtilityMember2022-09-30 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasUtilityMember2022-09-30 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasUtilityMember2022-09-30 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueMeasurementsRecurringMembersr:GasUtilityMember2022-09-30 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasMarketingMember2022-09-30 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasMarketingMember2022-09-30 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueMeasurementsRecurringMembersr:GasMarketingMember2022-09-30 0001126956sr:NaturalGasCommodityContractsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasMarketingMember2022-09-30 0001126956sr:NaturalGasCommodityContractsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasMarketingMember2022-09-30 0001126956sr:NaturalGasCommodityContractsMemberus-gaap:FairValueMeasurementsRecurringMembersr:GasMarketingMember2022-09-30 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AllOtherSegmentsMember2022-09-30 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AllOtherSegmentsMember2022-09-30 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AllOtherSegmentsMember2022-09-30 0001126956us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AllOtherSegmentsMember2022-09-30 0001126956us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AllOtherSegmentsMember2022-09-30 0001126956us-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AllOtherSegmentsMember2022-09-30 0001126956us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-30 0001126956us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-30 0001126956us-gaap:FairValueMeasurementsRecurringMember2022-09-30 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasUtilityMember2021-12-31 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasUtilityMember2021-12-31 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueMeasurementsRecurringMembersr:GasUtilityMember2021-12-31 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasUtilityMember2021-12-31 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasUtilityMember2021-12-31 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueMeasurementsRecurringMembersr:GasUtilityMember2021-12-31 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasMarketingMember2021-12-31 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasMarketingMember2021-12-31 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueMeasurementsRecurringMembersr:GasMarketingMember2021-12-31 0001126956sr:NaturalGasCommodityContractsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasMarketingMember2021-12-31 0001126956sr:NaturalGasCommodityContractsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersr:GasMarketingMember2021-12-31 0001126956sr:NaturalGasCommodityContractsMemberus-gaap:FairValueMeasurementsRecurringMembersr:GasMarketingMember2021-12-31 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AllOtherSegmentsMember2021-12-31 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AllOtherSegmentsMember2021-12-31 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AllOtherSegmentsMember2021-12-31 0001126956us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-31 0001126956us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-31 0001126956us-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-31 0001126956us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-31 0001126956us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-31 0001126956us-gaap:FairValueMeasurementsRecurringMember2021-12-31 0001126956us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AllOtherSegmentsMember2021-12-31 0001126956us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AllOtherSegmentsMember2021-12-31 0001126956us-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AllOtherSegmentsMember2021-12-31 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2022-12-31 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2022-12-31 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2022-12-31 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2022-12-31 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2022-12-31 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2022-12-31 0001126956sr:GasolineAndHeatingOilContractsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2022-12-31 0001126956sr:GasolineAndHeatingOilContractsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2022-12-31 0001126956sr:GasolineAndHeatingOilContractsMemberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2022-12-31 0001126956us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2022-12-31 0001126956us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2022-12-31 0001126956us-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2022-12-31 0001126956sr:GasolineAndHeatingOilContractsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:CarryingReportedAmountFairValueDisclosureMembersr:SpireMissouriMember2022-12-31 0001126956sr:GasolineAndHeatingOilContractsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMembersr:SpireMissouriMember2022-12-31 0001126956sr:GasolineAndHeatingOilContractsMemberus-gaap:EstimateOfFairValueFairValueDisclosureMembersr:SpireMissouriMember2022-12-31 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2022-09-30 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2022-09-30 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2022-09-30 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2022-09-30 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2022-09-30 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2022-09-30 0001126956us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2022-09-30 0001126956us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2022-09-30 0001126956us-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2022-09-30 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2021-12-31 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2021-12-31 0001126956sr:USStockAndBondMutualFundsMemberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2021-12-31 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2021-12-31 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2021-12-31 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2021-12-31 0001126956us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2021-12-31 0001126956us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2021-12-31 0001126956us-gaap:FairValueMeasurementsRecurringMembersr:SpireMissouriMember2021-12-31 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-31 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-31 0001126956sr:NYMEXICENaturalGasContractsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-31 0001126956us-gaap:PensionPlansDefinedBenefitMember2022-10-012022-12-31 0001126956us-gaap:PensionPlansDefinedBenefitMember2021-10-012021-12-31 0001126956sr:SpireMissouriMemberus-gaap:PensionPlansDefinedBenefitMember2022-10-012022-12-31 0001126956sr:SpireMissouriMemberus-gaap:PensionPlansDefinedBenefitMember2021-10-012021-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:PensionPlansDefinedBenefitMember2022-10-012022-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:PensionPlansDefinedBenefitMember2021-10-012021-12-31 0001126956sr:SpireMissouriMembersr:PensionPlanOneMember2022-12-31 0001126956sr:SpireMissouriMembersr:PensionPlanOneMember2022-09-30 0001126956sr:SpireAlabamaIncMembersr:PensionPlanTwoMember2022-09-30 0001126956sr:SpireAlabamaIncMembersr:PensionPlanOneMember2022-10-012022-12-31 0001126956sr:SpireAlabamaIncMembersr:PensionPlanTwoMember2022-10-012022-12-31 0001126956sr:SpireMissouriMemberus-gaap:PensionCostsMembersr:MissouriWestMember2021-12-22 0001126956sr:SpireMissouriMemberus-gaap:PensionCostsMembersr:MissouriWestMember2021-12-23 0001126956sr:SpireMissouriMemberus-gaap:PensionCostsMembersr:MissouriEastMember2021-12-22 0001126956sr:SpireMissouriMemberus-gaap:PensionCostsMembersr:MissouriEastMember2021-12-23 0001126956sr:SpireMissouriMemberus-gaap:PensionAndOtherPostretirementPlansCostsMembersr:MissouriEastMember2021-12-222021-12-22 0001126956sr:SpireMissouriMemberus-gaap:PensionAndOtherPostretirementPlansCostsMembersr:MissouriEastMember2021-12-232021-12-23 0001126956sr:SpireMissouriMemberus-gaap:PensionAndOtherPostretirementPlansCostsMembersr:MissouriWestMember2021-12-222021-12-22 0001126956sr:SpireMissouriMemberus-gaap:PensionAndOtherPostretirementPlansCostsMembersr:MissouriWestMember2021-12-232021-12-23 0001126956sr:SpireMissouriMemberus-gaap:QualifiedPlanMemberus-gaap:PensionPlansDefinedBenefitMember2022-10-012022-12-31 0001126956sr:SpireMissouriMemberus-gaap:NonqualifiedPlanMemberus-gaap:PensionPlansDefinedBenefitMember2022-10-012022-12-31 0001126956us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-10-012022-12-31 0001126956us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-10-012021-12-31 0001126956sr:SpireMissouriMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-10-012022-12-31 0001126956sr:SpireMissouriMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-10-012021-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-10-012022-12-31 0001126956sr:SpireAlabamaIncMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-10-012021-12-31 0001126956sr:SpireMissouriMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-12-23 0001126956sr:SpireAlabamaIncMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-10-012022-06-30 0001126956sr:SpireMissouriMemberus-gaap:OtherPostretirementBenefitPlansDefinedBenefitMembersrt:ScenarioForecastMember2022-10-012023-09-30 0001126956us-gaap:OperatingSegmentsMembersr:GasUtilityMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:GasMarketingMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:MidstreamMember2022-10-012022-12-31 0001126956us-gaap:AllOtherSegmentsMember2022-10-012022-12-31 0001126956srt:ConsolidationEliminationsMember2022-10-012022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:GasUtilityMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:GasMarketingMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:MidstreamMember2021-10-012021-12-31 0001126956us-gaap:AllOtherSegmentsMember2021-10-012021-12-31 0001126956srt:ConsolidationEliminationsMember2021-10-012021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:GasUtilityMember2022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:GasUtilityMember2022-09-30 0001126956us-gaap:OperatingSegmentsMembersr:GasUtilityMember2021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:GasMarketingMember2022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:GasMarketingMember2022-09-30 0001126956us-gaap:OperatingSegmentsMembersr:GasMarketingMember2021-12-31 0001126956us-gaap:OperatingSegmentsMembersr:MidstreamMember2022-12-31 0001126956us-gaap:OperatingSegmentsMembersr:MidstreamMember2022-09-30 0001126956us-gaap:OperatingSegmentsMembersr:MidstreamMember2021-12-31 0001126956us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2022-12-31 0001126956us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2022-09-30 0001126956us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2021-12-31 0001126956srt:ConsolidationEliminationsMember2022-12-31 0001126956srt:ConsolidationEliminationsMember2022-09-30 0001126956srt:ConsolidationEliminationsMember2021-12-31
 

 

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

 

FORM 10-Q

(Mark One)

 

 

☒

QUARTERLY REPORT PURSUANT TO SECTION 13 or 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended December 31, 2022

  

or

 

☐

TRANSITION REPORT PURSUANT TO SECTION 13 or 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                           to

 

Commission

File Number

 

Name of Registrant, Address of Principal

Executive Offices and Telephone Number

 

State of Incorporation

 

I.R.S. Employer Identification Number

       

1-16681

 

Spire Inc.

700 Market Street

St. Louis, MO 63101

314-342-0500

 

Missouri

 

74-2976504

       

1-1822

 

Spire Missouri Inc.

700 Market Street

St. Louis, MO 63101

314-342-0500

 

Missouri

 

43-0368139

       

2-38960

 

Spire Alabama Inc.

605 Richard Arrington Blvd N

Birmingham, AL 35203

205-326-8100

 

Alabama

 

63-0022000

 

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (only applicable for Spire Inc.):

 

Title of each class

 

Trading Symbol(s)

 

Name of each exchange on which registered

     

Common Stock $1.00 par value

 

SR

 

New York Stock Exchange LLC

     

Depositary Shares, each representing a 1/1,000th interest in a share of 5.90% Series A Cumulative Redeemable Perpetual Preferred Stock, par value $25.00 per share

 

SR.PRA

 

New York Stock Exchange LLC

 

Indicate by check mark whether each registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the registrant was required to file such report) and (2) has been subject to such filing requirements for the past 90 days.

Spire Inc.

 

Yes ☒

 

No ☐

Spire Missouri Inc.

 

Yes ☒

 

No ☐

Spire Alabama Inc.

 

Yes ☒

 

No ☐

 

Indicate by check mark whether each registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Spire Inc.

 

Yes ☒

 

No ☐

Spire Missouri Inc.

 

Yes ☒

 

No ☐

Spire Alabama Inc.

 

Yes ☒

 

No ☐

 

 
Table of Contents

 

Indicate by check mark whether each registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

  

Large
accelerated filer

 

Accelerated
filer

 

Non-
accelerated filer

 

Smaller
reporting company

 

Emerging growth company

Spire Inc.

 

X

        

Spire Missouri Inc.

     

X

    

Spire Alabama Inc.

     

X

    

 

If an emerging growth company, indicate by check mark if each registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Spire Inc.

 

       ☐

  

Spire Missouri Inc.

 

       ☐

  

Spire Alabama Inc.

 

       ☐

  

 

Indicate by check mark whether each registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Spire Inc.

 

Yes ☐

 

No ☒

Spire Missouri Inc.

 

Yes ☐

 

No ☒

Spire Alabama Inc.

 

Yes ☐

 

No ☒

 

The number of shares outstanding of each registrant’s common stock as of January 27, 2023, was as follows:

Spire Inc.

 

Common Stock, par value $1.00 per share

 

52,546,143

 

Spire Missouri Inc.

 

Common Stock, par value $1.00 per share (all owned by Spire Inc.)

 

25,325

 

Spire Alabama Inc.

 

Common Stock, par value $0.01 per share (all owned by Spire Inc.)

 

1,972,052

 

 

Spire Missouri Inc. and Spire Alabama Inc. meet the conditions set forth in General Instructions H(1)(a) and (b) to Form 10-Q and are therefore filing this Form 10-Q with the reduced disclosure format specified in General Instructions H(2) to Form 10-Q.

 

This combined Form 10-Q represents separate filings by Spire Inc., Spire Missouri Inc., and Spire Alabama Inc. Information contained herein relating to an individual registrant is filed by that registrant on its own behalf. Each registrant makes no representation as to information relating to the other registrants, except that information relating to Spire Missouri Inc. and Spire Alabama Inc. are also attributed to Spire Inc.

 
Table of Contents

 

 

TABLE OF CONTENTS
     
   

Page No.
     

GLOSSARY

 2
       

PART I. FINANCIAL INFORMATION

  

Item 1

Financial Statements (Unaudited)

  
 

Spire Inc.

  
 

Condensed Consolidated Statements of Income

4
 

Condensed Consolidated Statements of Comprehensive Income

5
 

Condensed Consolidated Balance Sheets

6
 

Condensed Consolidated Statements of Shareholders’ Equity

8
 

Condensed Consolidated Statements of Cash Flows

10
 

Spire Missouri Inc.

  
 

Condensed Statements of Comprehensive Income

11
 

Condensed Balance Sheets

12
 

Condensed Statements of Shareholder’s Equity

14
 

Condensed Statements of Cash Flows

15
 

Spire Alabama Inc.

  
 

Condensed Statements of Income

16
 

Condensed Balance Sheets

17
 

Condensed Statements of Shareholder’s Equity

19
 

Condensed Statements of Cash Flows

20
 

Notes to Financial Statements

  
 

Note 1. Summary of Significant Accounting Policies

21
 

Note 2. Revenue

24
 

Note 3. Earnings Per Common Share

25
 

Note 4. Regulatory Matters

26
 

Note 5. Financing

32
 

Note 6. Fair Value of Financial Instruments

33
 

Note 7. Fair Value Measurements

35
 

Note 8. Pension Plans and Other Postretirement Benefits

38
 

Note 9. Information by Operating Segment

41
 

Note 10. Commitments and Contingencies

43

Item 2

Management’s Discussion and Analysis of Financial Condition and Results of Operations

46

Item 3

Quantitative and Qualitative Disclosures About Market Risk

59

Item 4

Controls and Procedures

59
       

PART II. OTHER INFORMATION

  

Item 1

Legal Proceedings

60

Item 1A

Risk Factors

60

Item 2

Unregistered Sales of Equity Securities and Use of Proceeds

60

Item 3

Defaults upon Senior Securities

60

Item 4

Mine Safety Disclosures

60

Item 5

Other Information

61

Item 6

Exhibits

62
       

SIGNATURES

63
 

 

1
Table of Contents

 

 

GLOSSARY OF KEY TERMS AND ABBREVIATIONS

 

APSC

Alabama Public Service Commission

  

PGA

Purchased Gas Adjustment
         

ASC

Accounting Standards Codification

  

RSE

Rate Stabilization and Equalization
         

Company

Spire and its subsidiaries unless the context suggests otherwise

  

SEC

U.S. Securities and Exchange Commission
         

Degree days

The average of a day’s high and low temperature below 65, subtracted from 65, multiplied by the number of days impacted

  

Spire

Spire Inc.
         

FASB

Financial Accounting Standards Board

  

Spire Alabama

Spire Alabama Inc.
         

FERC

Federal Energy Regulatory Commission

  

Spire EnergySouth

Spire EnergySouth Inc., the parent of Spire Gulf and Spire Mississippi
         

GAAP

Accounting principles generally accepted in the United States of America

  

Spire Gulf

Spire Gulf Inc.
         

Gas Marketing

Segment including Spire Marketing, which provides natural gas marketing services

  

Spire Marketing

Spire Marketing Inc.
         

Gas Utility

Segment including the operations of the Utilities

  

Spire Mississippi

Spire Mississippi Inc.
         

GSA

Gas Supply Adjustment

  

Spire Missouri

Spire Missouri Inc.
         

ISRS

Infrastructure System Replacement Surcharge

  

Spire STL Pipeline

Spire STL Pipeline LLC, or the 65-mile FERC-regulated pipeline it constructed and operates to deliver natural gas into eastern Missouri
         

Midstream

Segment including Spire Storage and Spire STL Pipeline

  

Spire Storage

The physical natural gas storage operations of Spire Storage West LLC
         

MoPSC

Missouri Public Service Commission

  

U.S.

United States
         

MSPSC

Mississippi Public Service Commission

  

Utilities

Spire Missouri, Spire Alabama and the subsidiaries of Spire EnergySouth
         
O&M Operation and maintenance expense      

 

2
Table of Contents

 

PART I. FINANCIAL INFORMATION

 

The interim financial statements included herein have been prepared by three separate registrants — Spire Inc. (“Spire” or the “Company”), Spire Missouri Inc. (“Spire Missouri”) and Spire Alabama Inc. (“Spire Alabama”) — without audit, pursuant to the rules and regulations of the United States Securities and Exchange Commission (SEC). These financial statements should be read in conjunction with the financial statements and the notes thereto included in the registrants’ combined Form 10-K for the fiscal year ended September 30, 2022.

 

The Financial Information in this Part I includes separate financial statements (i.e., statements of income and comprehensive income, balance sheets, statements of shareholders’ equity and statements of cash flows) for Spire, Spire Missouri and Spire Alabama. The Notes to Financial Statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations are also included and presented herein on a combined basis for Spire, Spire Missouri and Spire Alabama.

 

3
Table of Contents
 

 

Item 1. Financial Statements

 

SPIRE INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(UNAUDITED)

 

   

Three Months Ended December 31,

  

(In millions, except per share amounts)

  

2022

    

2021

  

Operating Revenues

   $ 814.0     $ 555.4  

Operating Expenses:

                

Natural gas

     419.2       249.2  

Operation and maintenance

     132.1       116.4  

Depreciation and amortization

     62.1       56.9  

Taxes, other than income taxes

     50.4       37.6  

Total Operating Expenses

     663.8       460.1  

Operating Income

     150.2       95.3  

Interest Expense, Net

     43.6       28.6  

Other Income, Net

     6.0       7.4  

Income Before Income Taxes

     112.6       74.1  

Income Tax Expense

     21.6       18.4  

Net Income

     91.0       55.7  

Provision for preferred dividends

     3.7       3.7  

Income allocated to participating securities

     0.1       0.1  

Net Income Available to Common Shareholders

   $ 87.2     $ 51.9  
                 

Weighted Average Number of Common Shares Outstanding:

                

Basic

     52.4       51.6  

Diluted

     52.6       51.7  

Basic Earnings Per Common Share

   $ 1.66     $ 1.01  

Diluted Earnings Per Common Share

   $ 1.66     $ 1.01  

See the accompanying Notes to Financial Statements.

 

4
Table of Contents

 

 

SPIRE INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(UNAUDITED)

 

   

Three Months Ended December 31,

  

(In millions)

  

2022

    

2021

  

Net Income

   $ 91.0     $ 55.7  

Other Comprehensive Loss, Before Tax:

                

Cash flow hedging derivative instruments:

                

Net hedging loss arising during the period

     (3.0 )     (4.8 )

Amounts reclassified into net income

     (0.3 )     (0.3 )

Net loss on cash flow hedging derivative instruments

     (3.3 )     (5.1 )

Net gain on defined benefit pension and other postretirement plans

     0.1       0.1  

Net unrealized loss on available for sale securities

     —       (0.1 )

Other Comprehensive Loss, Before Tax

     (3.2 )     (5.1 )

Income Tax Benefit Related to Items of Other Comprehensive Loss

     (0.8 )     (1.2 )

Other Comprehensive Loss, Net of Tax

     (2.4 )     (3.9 )

Comprehensive Income

   $ 88.6     $ 51.8  

 

See the accompanying Notes to Financial Statements.

 

5
Table of Contents

 

 

SPIRE INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

 

  

December 31,

  

September 30,

  

December 31,

 

(Dollars in millions, except per share amounts)

 

2022

  

2022

  

2021

 

ASSETS

            

Utility Plant

 $7,769.4  $7,664.9  $7,329.2 

Less: Accumulated depreciation and amortization

  2,326.5   2,294.5   2,204.4 

Net Utility Plant

  5,442.9   5,370.4   5,124.8 

Non-utility Property (net of accumulated depreciation and amortization of $55.6, $50.7 and $36.7 at December 31, 2022, September 30, 2022, and December 31, 2021, respectively)

  508.9   491.4   474.2 

Other Investments

  93.5   87.8   90.4 

Total Other Property and Investments

  602.4   579.2   564.6 

Current Assets:

            

Cash and cash equivalents

  4.8   6.5   8.2 

Accounts receivable:

            

Utility

  479.4   210.8   476.2 

Other

  334.7   443.8   304.2 

Allowance for credit losses

  (34.5)  (31.9)  (31.4)

Delayed customer billings

  26.7   21.3   11.4 

Inventories:

            

Natural gas

  320.0   371.8   284.8 

Propane gas

  8.6   8.6   8.7 

Materials and supplies

  44.1   41.9   32.1 

Regulatory assets

  269.1   355.4   265.7 

Prepayments

  31.6   41.1   25.5 

Other

  145.2   122.7   49.9 

Total Current Assets

  1,629.7   1,592.0   1,435.3 

Deferred Charges and Other Assets:

            

Goodwill

  1,171.6   1,171.6   1,171.6 

Regulatory assets

  1,220.7   1,112.4   1,089.9 

Other

  260.4   258.1   264.3 

Total Deferred Charges and Other Assets

  2,652.7   2,542.1   2,525.8 

Total Assets

 $10,327.7  $10,083.7  $9,650.5 

 

 

6
Table of Contents

 

 

SPIRE INC.

CONDENSED CONSOLIDATED BALANCE SHEETS (Continued)

(UNAUDITED)

 

  

December 31,

  

September 30,

  

December 31,

 
  

2022

  

2022

  

2021

 

CAPITALIZATION AND LIABILITIES

            

Capitalization:

            

Preferred stock ($25.00 par value per share; 10.0 million depositary shares authorized, issued and outstanding at December 31, 2022, September 30, 2022, and December 31, 2021)

 $242.0  $242.0  $242.0 

Common stock (par value $1.00 per share; 70.0 million shares authorized; 52.5 million, 52.5 million, and 51.7 million shares issued and outstanding at December 31, 2022, September 30, 2022, and December 31, 2021, respectively)

  52.5   52.5   51.7 

Paid-in capital

  1,571.8   1,571.3   1,516.9 

Retained earnings

  953.0   905.5   859.5 

Accumulated other comprehensive income (loss)

  44.8   47.2   (0.3)

Total Shareholders' Equity

  2,864.1   2,818.5   2,669.8 

Temporary equity

  16.2   13.1   9.8 

Long-term debt (less current portion)

  3,156.3   2,958.5   3,206.8 

Total Capitalization

  6,036.6   5,790.1   5,886.4 

Current Liabilities:

            

Current portion of long-term debt

  256.6   281.2   31.2 

Notes payable

  1,227.0   1,037.5   846.0 

Accounts payable

  506.8   617.4   427.5 

Advance customer billings

  16.9   18.7   31.3 

Wages and compensation accrued

  30.6   50.2   29.9 

Customer deposits

  28.8   28.2   29.4 

Taxes accrued

  57.6   90.1   47.2 

Regulatory liabilities

  3.7   3.7   4.1 

Other

  276.7   226.6   274.1 

Total Current Liabilities

  2,404.7   2,353.6   1,720.7 

Deferred Credits and Other Liabilities:

            

Deferred income taxes

  699.4   675.1   615.6 

Pension and postretirement benefit costs

  159.3   163.0   222.5 

Asset retirement obligations

  526.2   520.9   524.8 

Regulatory liabilities

  344.9   418.2   531.8 

Other

  156.6   162.8   148.7 

Total Deferred Credits and Other Liabilities

  1,886.4   1,940.0   2,043.4 

Commitments and Contingencies (Note 10)

               

Total Capitalization and Liabilities

 $10,327.7  $10,083.7  $9,650.5 

 

See the accompanying Notes to Financial Statements.

 

7
Table of Contents

 

 

SPIRE INC.

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY

(UNAUDITED)

 

  

Common Stock

  

Preferred

  

Paid-in

  

Retained

         

(Dollars in millions)

 

Shares

  

Par

  

Stock

  

Capital

  

Earnings

  

AOCI*

  

Total

 

Three Months Ended December 31, 2022:

                            

Balance at September 30, 2022

  52,494,543  $52.5  $242.0  $1,571.3  $905.5  $47.2  $2,818.5 

Net income

  —   —   —   —   91.0   —   91.0 

Dividend reinvestment plan

  5,700   —   —   0.4   —   —   0.4 

Stock-based compensation costs

  —   —   —   1.4   —   —   1.4 

Stock issued under stock-based compensation plans

  58,678   —   —   —   —   —   — 

Employees’ tax withholding for stock-based compensation

  (17,225)  —   —   (1.3)  —   —   (1.3)

Temporary equity adjustment to redemption value

  —   —   —   —   (1.7)  —   (1.7)

Dividends declared:

                            

Common stock ($0.72 per share)

  —   —   —   —   (38.1)  —   (38.1)

Preferred stock ($0.36875 per depositary share)

  —   —   —   —   (3.7)  —   (3.7)

Other comprehensive loss, net of tax

  —   —   —   —   —   (2.4)  (2.4)

Balance at December 31, 2022

  52,541,696  $52.5  $242.0  $1,571.8  $953.0  $44.8  $2,864.1 

 

 

8
Table of Contents

 

 

SPIRE INC.

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Continued)

(UNAUDITED)

 

 

  

Common Stock

  

Preferred

  

Paid-in

  

Retained

         
  

Shares

  

Par

  

Stock

  

Capital

  

Earnings

  

AOCI*

  

Total

 

Three Months Ended December 31, 2021:

                            

Balance at September 30, 2021

  51,684,883   51.7   242.0   1,517.9   843.0   3.6   2,658.2 

Net income

  —   —   —   —   55.7   —   55.7 

Dividend reinvestment plan

  6,233   —   —   0.4   —   —   0.4 

Stock-based compensation costs

  —   —   —   0.3   —   —   0.3 

Stock issued under stock-based compensation plans

  77,976   —   —   —   —   —   — 

Employees’ tax withholding for stock-based compensation

  (26,611)  —   —   (1.7)  —   —   (1.7)

Temporary equity adjustment to redemption value

  —   —   —   —   0.1   —   0.1 

Dividends declared:

                            

Common stock ($0.685 per share)

  —   —   —   —   (35.6)  —   (35.6)

Preferred stock ($0.36875 per depositary share)

  —   —   —   —   (3.7)  —   (3.7)

Other comprehensive loss, net of tax

  —   —   —   —   —   (3.9)  (3.9)

Balance at December 31, 2021

  51,742,481  $51.7  $242.0  $1,516.9  $859.5  $(0.3) $2,669.8 

 

* Accumulated other comprehensive income (loss)

 

See the accompanying Notes to Financial Statements.

 

9
Table of Contents

 

 

SPIRE INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

 

   

Three Months Ended December 31,

  

(In millions)

  

2022

    

2021

  

Operating Activities:

                

Net Income

   $ 91.0     $ 55.7  

Adjustments to reconcile net income to net cash used in operating activities:

                

Depreciation and amortization

     62.1       56.9  

Deferred income taxes and investment tax credits

     21.6       18.4  

Changes in assets and liabilities:

                

Accounts receivable

     (156.9 )     (152.8 )

Inventories

     49.7       (20.5 )

Regulatory assets and liabilities

     (90.1 )     (187.3 )

Accounts payable

     (96.7 )     42.9  

Delayed/advance customer billings, net

     (7.2 )     (2.9 )

Taxes accrued

     (32.1 )     (31.4 )

Other assets and liabilities

     (15.6 )     (9.6 )

Other

     3.4       0.7  

Net cash used in operating activities

     (170.8 )     (229.9 )

Investing Activities:

                

Capital expenditures

     (154.8 )     (145.7 )

Other

     3.1       2.6  

Net cash used in investing activities

     (151.7 )     (143.1 )

Financing Activities:

                

Issuance of long-term debt

     205.0       300.0  

Repayment of long-term debt

     (31.2 )     (55.8 )

Issuance of short-term debt, net

     189.5       174.0  

Issuance of common stock

     0.4       0.4  

Dividends paid on common stock

     (36.3 )     (34.6 )

Dividends paid on preferred stock

     (3.7 )     (3.7 )

Other

     (2.7 )     (3.4 )

Net cash provided by financing activities

     321.0       376.9  

Net (Decrease) Increase in Cash, Cash Equivalents, and Restricted Cash

     (1.5 )     3.9  

Cash, Cash Equivalents, and Restricted Cash at Beginning of Period

     20.5       11.3  

Cash, Cash Equivalents, and Restricted Cash at End of Period

   $ 19.0     $ 15.2  
                 

Supplemental disclosure of cash paid for:

                

Interest, net of amounts capitalized

   $ (36.9 )   $ (23.3 )

Income taxes

     (0.3 )     (0.2 )

 

See the accompanying Notes to Financial Statements.

 

10
Table of Contents

 

 

SPIRE MISSOURI INC.

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

(UNAUDITED)

 

   

Three Months Ended December 31,

  

(In millions)

  

2022

    

2021

  

Operating Revenues

   $ 541.2     $ 347.9  

Operating Expenses:

                

Natural gas

     316.7       156.3  

Operation and maintenance

     77.1       66.3  

Depreciation and amortization

     38.6       34.2  

Taxes, other than income taxes

     36.4       25.7  

Total Operating Expenses

     468.8       282.5  

Operating Income

     72.4       65.4  

Interest Expense, Net

     22.0       14.5  

Other Income, Net

     5.0       5.9  

Income Before Income Taxes

     55.4       56.8  

Income Tax Expense

     8.1       11.5  

Net Income

     47.3       45.3  

Other Comprehensive Income, Net of Tax

     0.1       0.1  

Comprehensive Income

   $ 47.4     $ 45.4  

 

See the accompanying Notes to Financial Statements.

 

11
Table of Contents

 

 

SPIRE MISSOURI INC.

CONDENSED BALANCE SHEETS

(UNAUDITED)

 

  

December 31,

  

September 30,

  

December 31,

 

(Dollars in millions, except per share amounts)

 

2022

  

2022

  

2021

 

ASSETS

            

Utility Plant

 $4,632.6  $4,550.4  $4,347.8 

Less: Accumulated depreciation and amortization

  1,003.4   982.1   927.4 

Net Utility Plant

  3,629.2   3,568.3   3,420.4 

Other Property and Investments

  66.5   58.9   68.9 

Current Assets:

            

Accounts receivable:

            

Utility

  357.2   131.5   377.4 

Associated companies

  5.8   3.7   3.7 

Other

  28.6   44.5   36.3 

Allowance for credit losses

  (28.2)  (24.9)  (23.8)

Delayed customer billings

  21.5   16.1   4.7 

Inventories:

            

Natural gas

  189.9   215.3   186.6 

Propane gas

  8.6   8.6   8.7 

Materials and supplies

  23.0   22.0   16.2 

Regulatory assets

  191.2   288.1   236.9 

Prepayments

  15.8   23.3   18.4 

Total Current Assets

  813.4   728.2   865.1 

Deferred Charges and Other Assets:

            

Goodwill

  210.2   210.2   210.2 

Regulatory assets

  634.7   547.6   560.5 

Other

  106.0   105.0   126.2 

Total Deferred Charges and Other Assets

  950.9   862.8   896.9 

Total Assets

 $5,460.0  $5,218.2  $5,251.3 

 

 

12
Table of Contents

 

 

SPIRE MISSOURI INC.

CONDENSED BALANCE SHEETS (Continued)

(UNAUDITED)

 

  

December 31,

  

September 30,

  

December 31,

 
  

2022

  

2022

  

2021

 

CAPITALIZATION AND LIABILITIES

            

Capitalization:

            

Paid-in capital and common stock (par value $1.00 per share; 50.0 million shares authorized; 25,325, 25,325, and 24,577 shares issued and outstanding at December 31, 2022, September 30, 2022, and December 31, 2021, respectively)

 $816.2  $816.2  $765.1 

Retained earnings

  979.2   931.9   862.3 

Accumulated other comprehensive loss

  (2.6)  (2.7)  (4.1)

Total Shareholder's Equity

  1,792.8   1,745.4   1,623.3 

Long-term debt (less current portion)

  1,388.1   1,387.7   1,637.0 

Total Capitalization

  3,180.9   3,133.1   3,260.3 

Current Liabilities:

            

Current portion of long-term debt

  250.0   250.0   — 

Notes payable

  —   —   250.0 

Notes payable – associated companies

  651.2   445.3   180.4 

Accounts payable

  166.6   119.0   117.0 

Accounts payable – associated companies

  20.1   13.3   11.6 

Advance customer billings

  5.3   7.0   20.0 

Wages and compensation accrued

  21.5   33.8   21.0 

Customer deposits

  6.3   6.5   8.0 

Taxes accrued

  24.3   50.4   15.4 

Regulatory liabilities

  —   —   0.2 

Other

  92.9   45.6   89.2 

Total Current Liabilities

  1,238.2   970.9   712.8 

Deferred Credits and Other Liabilities:

            

Deferred income taxes

  512.4   500.1   477.5 

Pension and postretirement benefit costs

  101.9   115.5   147.9 

Asset retirement obligations

  111.7   110.6   144.8 

Regulatory liabilities